Why Invest in Staff Development and Training?
Whilst Learning and Development finally has a seat at the head of the table when it comes to business decisions, many organisations overlook it. Particularly after the events of the last year. So, why is this? Here we're going to look at the main benefits of investing in your employee's development.
Many, many studies and research has been undertaken over the years, and all conclude one thing. Investing in your employee's development results in them being happier, more productive and creates ambassadors for your brand. One of the best forms of marketing a business should use is the voice of its employees. If your staff are happy and feel valued, they will talk about the company, make recommendations to friends and family, share updates on social media, the list goes on. However, on the flip side. If employees are unhappy, they will do the complete opposite. Talking badly about your business, recommending competitors to friends and family and will certainly not promote that they work for you on social media.
Another factor to take into account is the rate of staff turnover. A recent report by Microsoft determined that approximately 41% of people are considering leaving their jobs this year. That's a scary number, and whilst there will be many factors that make up this number, a lack of opportunities for training and development will undoubtedly make up a percentage of this. It's no surprise that the cost to replace skilled staff far outweighs the cost of providing development opportunities.
Employees who receive training and development are better able and more motivated to perform their job. They become more aware of proper procedures, safer ways of working and become more confident. This confidence will encourage employees to perform even better, be more innovative and ready to put forward new ideas.
Ongoing development also keeps your employees on the cutting edge of industry developments. Resulting in your business becoming a leader above your competitors.
Address Performance Issues
Not all employees will perform at the same level, and training and development should be the first point considered when addressing individual performance issues. Rather than going through the lengthy process of performance management, transitioning someone from the business, and then the complete recruitment cycle again, could further training address the issue the employee is displaying? The first question to ask an employee with performance issues - Do you feel you need any further training to help improve your performance?
Improving Employee Wellbeing
Another finding from Microsoft was that "One in five global survey respondents say their employer doesn’t care about their work-life balance. 54% feel overworked. 39% feel exhausted. And trillions of productivity signals from Microsoft 365 quantify the precise digital exhaustion workers are feeling."
Many employees face more exposure to digital ways of working. Time spent in Microsoft Teams meetings has more than doubled (2.5X) globally and continues to climb. The average meeting is longer, 42% more chats are being sent outside of working hours, and the number of emails delivered to commercial customers was up by 40.6 billion on the previous year.
Employees also stated that working from home has resulted in them working longer hours or taking fewer breaks as they feel they have to "prove" to their employer that they are working whilst at home.
With all that said, it's no surprise that employee wellbeing is something businesses should prioritise as we advance. Having leaders within the company trained to support employees mental health and correctly signpost them for further support is invaluable in this new world of work. Whilst it's not expected for managers to be trained therapists or even have one on hand, courses such as Psychological First Aid can be hugely beneficial.
In the new world of work we are entering, employees are looking for more than a salary. Flexible working becoming the norm means candidates are no longer restricted to positions within a geographical location; this opens up a world of options for new employment opportunities. Candidates are now looking at company culture, the company values and ethics, employee wellbeing programmes, opportunities for training and development and how a company values its employees.
Having robust programmes in place will not only ensure you have a happy, productive and innovative team but will also position you as an employer of choice in a candidate-driven market.
If you are looking for support with your own staff development, we have a number of online, accredited courses running throughout June and July. Check them out here or please contact us directly to discuss your requirements.