Hiring the right profile to occupy the vacancy in your office is an important step. However, finding the right candidate is only one part of the equation that needs to be balanced. The expectation of great results from employees implies that they have been provided the right training. An employee who, on paper, possesses the accurate credentials, may fall short of the level of success expected from them if they are not equipped with the right tools. Outlining the policies and practices of the company, in a manner that improves the skill set of the employees, results in an improved bottom line for the company.
Steep Incline in Productivity
A new job opportunity, with a different company or even within the same one, is a great learning curve for any individual. However, at the other end of the spectrum, any employer, while onboarding staff or helping employees to transition into new roles, witnesses a period of reduced productivity. Our studies show that a gap of eight-month is expected for employees to reach maximum productivity in new roles. Yet, employers have to pay the full agreed-upon salary even during this period. Investing in a quality training program will help to bridge any gaps in knowledge that the employee has and help them to hit the ground running.
Working on Employee Engagement Levels
Effective training is also impacted by the level of engagement that employees have with the company. The initial phase of the recruitment means that the hire works harder to prove their worth. However, if the training does not provide empowering tools to the employees, then their engagement will decrease. Our studies indicate that 66% of employees in the job force are not engaged or actively disengaged, which is a significant problem within the modern workplace. Countering this disinterest with quality training can be the difference between a lagging business and a successful one.
Investing in Employee Retention
Retention is not simply concerned with preventing employees from jumping to the side where the grass is greener. Employees should feel that their contributions are valuable to the company too. This validity results in retention and the foundation are developed during the training period itself. A well-designed training program is crucial to nurturing the psyche of the employees. They wish to feel that their work contributes to the success of the company and in return, time and resources are being invested to facilitate their professional growth too. This is the secret to retaining employees for longer time periods. Of course, the initial success of the training has to be converted into incentivized retention strategies.
Profits for the Long-Term
Studies have shown that losing one employee can cost twice of that individual’s annual salary, in losses. Thus, a quality training program is the only means to side-step this loss in the bottom line. Working on retention rates, by means of meaningful training, is also another method to save losses, especially in a startup that has limited funding.
Employees who are engaged and productive lead to an overall increase in profits. Improving customer service or reduced frequency of errors are areas that take time to be perfected; however, providing a strong base through initial training can provide the employees a boost in these departments.
The Bottom Line
Engaged employees bump up productivity by a staggering 21%, as per our study than companies with disengaged workforces. Thus, benefits through better training do not only improve the company’s workflow, but it also leads to an increase in productivity. As a consequence, the chances of professional success for employees also increases. It becomes a win-win situation for both parties involved.<< back to Blog