The Importance of Employee Training & Development

Figure 01: Training & Development

It’s a crucial fact to invest in employee training and development in order to have a continuous success for an organization. According to the LinkedIn ‘s 2019 Workforce Learning Report, 94% of employees are willing to stay longer with the company which provide support to their career growth (Hess, 2019). These training programs helps the organization in boosting sales and profits and also enhance employee engagement.

In the competitive workspace organizations need to adapt these ongoing training and development programs in order for future endeavor of the company. Training and development programs should be given to all the employees to maintain the well being of the employees and to the success of the organization.

Why training and development is crucial?

What is Employee Training and Development?

Training and development refer to the process of gaining the knowledge, abilities, and mindset that enhances workers' job performance and permits future career advancement (Tannenbaum, et al., 1992).

Importance of Training & Development

Figure 02: Training & Development

Boost Performance and Productivity

The employees feel more certain in their skills when they receive these training and development programs. Organizations may enhance employee performance, productivity, and job satisfaction by providing employees with the required training and development. It also has a good effect on the work environment of the company and helps employees stay motivated and engaged (Herrity, 2024).

Talent Management and Retention

Employees actively seek for prospects for growth and development in the modern competitive workspace. Therefore, it is easier for organizations to attract and retain top talent when they invest in staff training and development programs (Herrity, 2024). Furthermore, prioritizing the personal growth and development of employees increases their loyalty and commitment to the company. As a result, there is less employee turnover and a more stable workforce.

Overcome Market Competition

Organizations may ensure that they will maintain their competitive advantage in the future by investing in the training and development of their workforce. This is crucial in areas where customer demands are always shifting and technology is advancing quickly. This will result in overcoming market competition.

Effective Risk Management

Employees with proper training and developments are less likely to make mistakes that could result in expensive mistakes or legal problems (Ekwere & Nsikan, 2016). Compliance training, for example, can help businesses stay out of trouble with the law by making sure staff members are aware of the rules that affect the work they do on a daily basis.

Fostering a Culture of Training & Development

Investing in employee training and development demonstrates the organization's commitment to continuous learning. As a result, an environment of learning and development is fostered, encouraging staff members to experience new things, take challenges, and look for growth possibilities. The success of a business can be fueled by a workforce that is more inventive and creative as a result of fostering a culture of training and development (Frost, 2019).

Conclusion

In the cutthroat business world of today, investing in the training and development of staff members fosters a more inventive, engaged, and productive workforce which is a critical element of any company's success. Businesses may achieve corporate goals with employee competencies through focused training programs, which will enhance output, boost performance, and eventually lead to long-term success of the organization. 

References

Ekwere & Nsikan, 2016. Framework of effective risk management in small and medium enterprises (SMESs): a literature review. Bina Ekonomi, 20(1), pp. 23-46.

Frost, S., 2019. Chron. [Online]
Available at: https://smallbusiness.chron.com/importance-training-development-workplace-10321.html
[Accessed 01 April 2024].

Herrity, J., 2024. Indeed. [Online]
Available at: https://www.indeed.com/career-advice/career-development/importance-of-training
[Accessed 01 April 2024].

Hess, A. J., 2019. Make it. [Online]
Available at: https://www.cnbc.com/2019/02/27/94percent-of-employees-would-stay-at-a-company-for-this-one-reason.html
[Accessed 01 April 2024].

Tannenbaum, Scott I and Yukl & Gary, 1992. Training and development in work organizations. Annual review of psychology, 43(1), pp. 399-441.