Knowledge and skills are crucial to every company. Firms are evaluated based on their physical structure and intellectual capital. The easiest way to develop and improve a firm’s intellectual capital is to conduct regular
training and development programs.
Employee training and development refers to the continued efforts of a company to boost the performance of its employees. Companies aim to train and develop employees by using an array of educational methods and programs. The purpose of training and development in organizations is: Improve knowledge and skills to perform their roles effectively. Increasing employee productivity and efficiency. Support employee development and growth. If employees are working toward a goal, they are more likely to work harder and more efficiently.
There are benefits involved in the allover model of training and staff development.
There are sets backs that this might but the benefits outweigh the setbacks. The benefits include:
Improved employee performance the employee who receives the necessary training is more able to perform in their job. The training will give the employee a greater understanding of their responsibilities within their role, and in turn, build their confidence. This confidence will enhance their overall performance and this can only benefit the company. Employees who are competent and on top of changing industry standards help your company hold a position as a leader and strong competitor within the industry.
Reduced employee turnover
Staff is more likely to feel valued if they are invested in and therefore, less likely to change employers. Training and development are seen as additional company benefits. Recruitment costs, therefore, go down due to staff retention.
Addressing weaknesses
Productivity usually increases when a company implements training courses. Increased efficiency in processes will ensure project success which in turn will improve the company turnover and potential market share. A training program presents an opportunity to instill the needed skills in the employees. A development program helps to expand the knowledge base of all employees. In doing so, companies are able to bridge any gaps and weak links within their organizations. In such a way, every employee will be in a position to fill in for his colleague and handle any task with efficiency. Increased productivity and adherence to quality standards.
Boosts company profile and reputation
Employee training is not just good for the employees but also for the firm. Conducting frequent training and development programs is one way of developing the organization’s employer brand, thus making it a prime consideration for the top employees working for competitor firms, as well as graduates. A company that trains its employees will be more attractive to potential new employees, particularly those looking to advance their skills.
Innovation
When employees receive consistent training and upskilling, it fosters their creativity. The training programs help employees to be more independent and creative when they encounter challenges in their work.
