Leading organizations make time to invest in training. At the end of the day, these organizations that use their resources on employee training want to understand their ROI and know that their investment is working. So, why should leading organizations invest in training?
These organizations will also invest in training to accomplish, fix, or avoid something happening within their business. Training isn’t a one-size-fits-all solution for each online business. Learn about the common reasons that top organizations invest in training for team productivity, mitigating risk, and retaining top talent.
Many employees across a variety of organizations have the tools to do their job but don’t have the know-how to do it productively. According to a Staples poll from 2016, 75% of employees don’t believe they have access to the latest efficiency-boosting technology tools. One of the top reasons to invest in training is to give your staff the know-how to be a top-producing team.
For example, one of the leading products for corporate, education, and nonprofit organizations is the Microsoft Suite. A recent poll from Business Management Daily reports that many MS Office users are self- or peer-taught and use approximately 10% of the available software features. Although this is one of the most commonly used software products, many users are self-taught. Imagine the increase in productivity if your organization invested time into training your staff how to properly use the Microsoft Suite. The impact could be incredible and immediate.
Training employees helps them grow their interpersonal skills as much as their business skills. Employees often opt for training that increases their communication skills, better relationship management, and increased teamwork to meet company-wide goals. When you invest in your employees’ personal growth, you’re investing in greater productivity for your entire team.
Understanding that training creates a productive environment in the workplace is very important, but how do you create a staff that is loyal to the organization? Forbes reported that employees who believe that management takes a genuine interest in them and supports their career development are often happier and more loyal to the organization. They credit the phenomenon to composing better development plans organization-wide.
This emphasizes the importance of creating an environment that invests and involves their team in training – everybody wins.
No matter what type of industry your organization falls into, it’s important to stay up-to-date digitally with your staff. The Economist reported that employees who believe their workplace effectively uses mobile tech are more creative, satisfied, and productive at work (2016).
Consider getting creative with your training. Can your staff view videos on mobile devices? Is training something they can do from a remote location? Your LMS solution should offer a suite of products that are created with the flexibility needed for your organization, that work on a variety of devices and can be used no matter the physical location of your team. Invest in an LMS that will work for your team.
A toxic workplace is a huge risk in any organization. Problems such as bullying, harassment, and substance abuse can create a negative, unsafe environment. It can lead to high-risk situations that put the organization at risk for a combination of negative results – including lawsuits.
There are also high costs associated with a toxic workplace, whether from discrimination, bullying, harassment, unsafe conditions, substance abuse or any combination of these.
Harassment is something that can be commonly found in toxic environments. It creates unsafe working conditions for employees and can really affect staff morale if employees don’t feel safe.
When harassment does happen in the workplace, many victims or witnesses don’t know how to react in that environment. In a recent study, as much as 70% of harassment goes unreported. When harassment is reported, the victim faces retaliation of some form in 75% of cases (EEOC 2016). This means that many employees will endure some time of harassment in a variety of organizations.
If you have employees currently being harassed, and you don’t have a plan for addressing harassment, you’ll probably endure turnover in your staff. The Workplace Bullying Institute reports 48% of employees who are the target of bullying at work end up quitting their job (2014). Losing talent is a real risk when you have workplace bullying affecting team members and their sense of safety.
Looking at harassment and bullying through a fiscal lens, it is a costly risk to allow your business to take. In a study from Forbes in 2012, workplace bullying cost U.S. businesses up to $360 billion annually in lost productivity, absenteeism, and turnover, as well as increased medical costs. With financial risk in the billions, it’s important to take harassment and workplace bullying seriously.
In addition to harassment in a toxic workplace, substance abuse can create risk. Employees that abuse substances are more likely to be late to work or miss work, use 3x more health and medical benefits, and are overall less productive in their positions. Workers that are dealing with substance abuse create an environment that isn’t safe for your other employees.
An LMS solution should provide quality training on workplace harassment, bullying, and any other workplace safety concerns relevant to your business. Providing training to help employees know how to behave appropriately and safely at work is a critical component of maintaining a safe workplace.
Retaining top talent is critical to the continued growth and success of any business. Leaders use talent development training to show top employees that their personal growth has value and that they can grow with the company.
High performing employees are incredibly valuable to the company for their productivity delivering 40% more than the average employee according to the Harvard Business Review. This means that losing a few key high performers can dramatically impact the organization.
Although high-performers cost more to replace, studies show that less than half of them are satisfied with their jobs, and 1 in 5 say they’re likely to leave in the next six months. In fact, CBS reports that 94% of employees say they would stay at a company longer if that company would invest in their career.
By utilizing an LMS solution that can train a wide variety of staff members, including hard-to-replace, high performing employees, you’ll be investing in staff that will stay loyal to your organization. The opportunity for training will give them motivation and inspiration to work harder and be better at their jobs. As such, trust between both parties is instilled and you’re in a better position to keep the top talent at your organization for the long run.
No matter what industry your business is in, it’s essential to create a healthy workplace for your employees. This includes creating a safe environment for learning, increased productivity or investing in top talent. Keep your staff trained in safety requirements for workplace harassment and substance abuse, and make them feel empowered to report any situation that makes the workplace toxic.