Unfortunately, many companies fail to see the value of investing in employee education, or see it as something that they can’t afford to do, or it’s just an afterthought. It’s little wonder then that around 24 per cent of millennials said in the Deloitte Millennial Survey that they are “very satisfied” with professional development opportunities being offered by their employers.
There are different types of education and training that employers can offer their workers, from formal courses to work-based training sessions to seminars to online learning modules.
Employee education boosts the skills of your employees, which translates into better work quality, more productivity and profitability.
Improved employee performance: Education and training tends to lead to an improvement in employee performance as those who have received adequate training are more likely to perform their roles better.
Solving issues: If there are any weaknesses that you need to address within your company and the performance of your staff, education and training might be the best way to go about this. Weaknesses can include missing experience and skills. When you up-skill your workforce you bolster it.
More satisfied employees: Employees who receive education opportunities from their employer generally feel more satisfaction with their work, have better morale, are more engaged and motivated, and are less likely to look for another job.
Consistent work processes in your company: When employees are subject to the same training and education as one another they will be shown processes and methods that are best practice. This will be replicated by anyone who does the same training.
Keeping abreast of industry trends: Most industries are constantly evolving thanks to technology, societal and regulatory changes. Ensuring your staff have up-do-date skills to handle this level of change will ensure your company keeps pace.
Maintain skills and knowledge: Don’t make the mistake of thinking that if you train an employee when they are a new recruit you can tick a box and say they are well-versed in your systems and processes. Implementing training schemes that are ongoing will help your employees to develop their skills.
Custom skill-sets: There is a skills gap that exists for many companies and candidates don’t always have the exact skills you need in order to do the job. This is a great opportunity for you to build up the right people for your organization - think of them as being like a blank canvas. When you train them in your systems and processes they will have the skills required to work for you.
Advantage over your competitors: If you train your staff to go above and beyond in, say, customer service you will have an edge over your competition.