Training is a vital way to keep up to date with new technology, trends, and skills, as well as improving staff motivation and overall business functions. Through training you ensure that you are being resourceful, running the business effectively, and creating staff who are assets to the organisation.
If you are considering implementing training within your business/organisation or wondering why it is necessary, here are some valuable benefits as to why training is worthwhile:
Business Benefits
Despite the size or type of a business, training can impact its effectiveness. Research shows that in a business where training is valued and implemented, productivity increases. Staff who receive training can be up to 230% more productive than those who do not experience training. (Source: Smith A., 2001, Return on Investment in Training: Research Readings, NCVER, pdf – 359K)
Higher productivity can affect the entire business, allowing it to expand and increase market share.
Staff Benefits
Staff who receive training are more likely to continue working for the business. Where staff feel that they are being developed and experiencing growth, they will appreciate and stay. Some companies have experience a reduction of staff turnover by 70% after implementing training.
Quality and Productivity Benefits
Ongoing training within a business can increase the quality of a business services by developing skills in accuracy and efficiency, safety practices and customer service.
Flow-On Benefits
Training influences the entire business, and as a business implements continual training, it will result in a boost from the bottom line and reduce costs by decreasing wasted time, wasted material, maintenance costs, accidents, absenteeism, recruitment costs etc.
Competitive Benefits
Training staff in your business ensures that you are at the top of your game in terms of technology, processes and systems. It helps the business stay competitive and innovative.
