Most firms realize the importance of investing in their business. They are more than happy to buy new equipment for the shop floor and to pay for marketing and branding.
Despite this when it comes to their biggest asset, their staff, many firms are reluctant to invest. Many simply do not realise the benefits creating an environment in which people are encouraged to learn continually and update their skill set can bring to a company.
There are many reasons to invest in your people. Here we look at just some of them, and explain the best way to go about investing in your personnel and training them to a high standard.
Improves staff retention
The first reason to train your staff is that it improves staff retention. This fact surprises many company owners.
There is a tendency to believe that training a member of staff to a high standard could increase the likelihood that they will leave and go to a better-paid role in another firm. Now, this seems logical, but studies show that the opposite is true.
Staff want to progress, they want to do well at work and improve their skills. If you give them the chance to do so they appreciate it and it fosters loyalty as well as helping them to do their job better.
People see the fact that you are willing to invest in them as a sign that you appreciate and value them. In the modern world, this is a rare thing and people know this, so want to stay with a firm where they feel comfortable and appreciated.
Makes recruitment easy
Well-trained staff also makes it easier for you to recruit from within. That means that your HR team does not have to waste hours and hours going through CVs and carrying out interviews.
Because people who are recruited from within a firm already understand the culture and processes of a company, they become effective employees from the very start. If you recruit someone from outside the firm, inevitably, there is a learning curve for them and it takes time before they can work efficiently within your firm. Of course, you will still have to recruit some people from outside your firm, but the well trained staff you already have will make sure that those new recruits settle in fast.
Equipping your HR department for the task
If you are serious about changing the culture of your business and ensuring that your personnel are properly trained, you will need the support of your HR department. Your HR staffs have the training and knowledge to make sure that effective training courses are put together and ensure that the necessary people are taken through each course in an orderly fashion.
Taking control of your training in house keeps you in control and ensures that each course is exactly what your company needs. It is also far cheaper than buying training from outside providers.