A recent survey by Payscale showed that of all the organisations that took part, 66% of them part agreed or strongly agreed that retention is a growing concern within their business. Ensuring employees have a long and for fulfilling career within your company can often be hard to maintain, however many businesses are taking the approach to offer more training and development opportunities to their work force. Providing frequent training programmes and expanding your current employees’ qualifications can be beneficial for your company in many respects, such as higher employee satisfaction, but will also majorly increase staff retention within your work place. This all leads to a more profitable business and a more productive working environment.
This article will look at why providing regular training for your team will encourage them to develop their career within your company, along with the benefits of this, and how at the In-house Training Company we can provide you with excellent training opportunities for your team.
The importance of employee retention in a business
Within any organisation there will be an average level of staff turnover, however one of the most cost-effective ways to prevent that rising is to provide new learning experiences for your team and by having a focus on developing your current employee’s skill sets. As an employer, your team already possess the essential skills for the roles you hired them for and are most likely to be the best candidates for progression within your company.
A higher staff turnover within any employer can also lead to poor morale in your work force, so one of the best ways to retain and motivate your employees is to expand their career opportunities within your business. This is one of the best ways for you to maintain high job productivity and also retain career longevity from your team.
Naturally recruitment is essential for any business, however in many cases it isn’t always the right answer and can end up being extremely costly. Within any work place hiring new talent does need to occur now and then, however if you can nurture the talent you already have where possible, your organisation will see the benefits of this taking effect immediately. The best way to do this is to get a better understanding your employees’ needs and how you can draw on their talents to develop them within your organisation to ensure they want to progress a career within your environment.
Is regular staff training a necessity to my business?
A report recently conducted by Tinypulse shows that according to 44% of employees, they do not feel they have sufficient opportunities for professional growth in their current positions. Providing appropriate training and refresher programmes for your current employees would dispel these feelings and allow you to get the best from your team. Many employees can start to lose enthusiasm and interest in their job roles, and this can lead to much bigger issues for your company if it is not quickly addressed. Offering job related refresher training courses or providing a whole new qualification for your staff to get their teeth in to would remove any such negativity from your team within a short period of time.
The benefits of offering training and development programmes on a regular basis will create a fresh positivity and sense of morale within the team, as well as improving on or giving them a whole new skill set. It not only provides opportunity for them but also for you as a business, as it enables you to maintain employees and have loyalty from them throughout their career within your company.
What types of training can I offer to my employees?
Training doesn’t necessarily have to involve time consuming courses undertaken outside of the workplace. Of course, if you see the potential in your team then offering higher level qualifications may be of an advantage to your organisation’s needs, however it doesn’t need to be. Refresher courses, regular on-site training and offering development and feedback meetings are all excellent ways to provide training to your team. Open conversations with your employees will allow them to express where they want to go with their development in your business and will give you with the essential information necessary to curate training and retention programmes that fulfil your employees requirements as well as your own.
The long term benefits of training employees in your company
The Balance Careers states that on average an employee stays within a company for 4.6 years. This may seem like a respectable figure but to ensure they have a positive career during this time, new learning and development opportunities are essential to ensure you get optimal performance from your employees. On Trainingmag.com they say that “By investing the appropriate training in an employee, they will develop a greater sense of self-worth as they become more valuable to the company”. Regularly training and updating your current employees’ qualifications will help them grow within your company, thus encouraging them to stay within your setting for a longer period. Viewed from a different perspective, it will provide a more positive image for your business, showing that employees want to work for you and want to stay within you.
It is not just beneficial in a practical sense either. Work ethics and employee satisfaction will also rise, allowing for a more productive and efficient working environment. All of these factors will lead to you having higher employee retention rates and a more qualified and enthusiastic work force in your company. In the long term this should result in a stronger performance from your company within the market place.
Develop your team with The In-House Training Company
At The In-house Training Company we offer an extensive range of courses that can be tailored to your company and employee requirements. To find out more about any of our popular courses, please click here. Alternatively, to speak to our team directly about how we can create a training package for you, please call us on 01582 714 285 or email email@example.com.