Employee Training and Development Programs: The Benefits and Why it’s Important

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Employee Training and Development Programs The
Benefits and Why its Important
Employee Training and Development Programs
Employees are a companys biggest asset, and
investing in talent is vital to sustainable
business growth and success. Businesses go
through lengthy processes to recruit and hire
qualified and suitable staff, but often the
emphasis on caring about employees stops there.
According to a Gallup study, workgroups that
engaged in employee development saw a sales
increase and profits double compared to
workgroups that didnt engage at all. Dedicated
Employee Training and Development Programs
fosters employee engagement, and engagement is
critical to your companys financial performance.
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Workgroups that engaged in employee development
saw a sales increase and profits double compared
to workgroups that didnt engage at
all. Investing in your staffs professional
development is vital for team retention to the
point that 94 of employees would stay at a
company longer if it invested in their career
development. Replacing talent can cost more than
retaining the employees you originally had. A
report from Gallup revealed that 38 of the US
workforce is powered by millennials, and in 2025
it is estimated to grow to 75. However the rate
of turnover amongst millennials is high only
50 plan to be with the company one year from
now. Gallup estimated that employee replacement
costs can be 150 of the workers annual salary,
or more. Caused by a lack of workplace
engagement, turnover costs the US economy 30.5
billion a year. The internal economic detriment
could be brutal, for both small and large
organisations. Its a costly mistake, and one
that can be easily mitigated. As the business
landscape becomes increasingly competitive,
improving your teams performance is imperative
within evolving markets. Employee development and
training is no longer an additional perk
reserved for the C-suite, its essential for the
growth of your business and the workforce that
propels it. What is employee development? Employ
ee Training and Development Programs is a term
often used interchangeably, across sectors, and
encompasses various employee learning practices.
More specifically, training involves programs
which enable employees to learn precise skills or
knowledge to improve performance. Employee
Training and Development Programs involve a more
expansive employee growth plan, for future
performance rather than immediate career role
improvement. Now, more than ever, learning and
development are taking top priority, with 27 of
organisations preparing for budget increases
within development initiatives. As new markets
emerge, so will new technologies both having a
profound impact on education and development.
Recognising new skills and ways of learning will
help a company evolve and innovate for the
future. Merging contemporary technological
platforms with creative learning methods will
ensure that teams learn dynamically, through a
future-oriented approach.
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• 94 of employees would stay at a company longer
  if it invested in their career development.
• The benefits of Employee Training and Development
  Programs in the workplace
• The top benefit for driving Employee Training and
  Development Programs is to shape a more
  efficient, competitive, and engaged workforce.
  Companies that have actively interested and
  dedicated employees see 41 lower absenteeism
  rates, and 17 higher productivity.
• Here are reasons why Employee Training and
  Development Programs is important
• Positive employee retention
• Hiring and retention can become a major challenge
  to employers, however, this can be avoided
  through career development. Training programs
  have become so centralised within businesses
  that it is often used as a competitive advantage
  when hiring. Offering programs within employment
  contracts establish an employees sense of value
  within the company, and fosters loyalty and
  ultimately staff retention. Whats more is that a
  business with an engaged workforce will achieve
  a 59 lower staff turnover rate.11
• Training future leaders
• Targeting skills and employees for future
  leadership will help establish a business for
  growth and change. Acquiring leadership talent
  can start from the initial acquisition, or Human
  Resource professionals can select current
  employees as managerial candidates. Having
  established leadership development programs
  ensures that an organisation is always
  considering the future organisational goals by
  preparing promotable talent.
• Employee empowerment
• Leaders who feel empowered within the workplace
  will be more effective at influencing employees
  and gaining their trust. Consequently, those
  employees will feel a greater sense

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of autonomy, value, and confidence within their
work. Forbes measured empowerment along with
employee engagement in data from over 7,000
employees and found that employees who felt a
low level of empowerment were rated with
engagement in the low rankings of the 24
percentile, compared to those who felt a high
level of empowerment and were in the 79th
percentile. 4) Increase workplace
engagement Boredom in the workplace can create
feelings of dissatisfaction and negative working
habits. Regular development initiatives can
prevent workplace idleness. Having frequent
Employee Training and Development Programs will
also establish regular re- evaluation of
employees, skills, and processes. Employee
Training and Development Programs will also
influence company culture by instilling an
emphasis on planning. Training and development
can prompt company analysis and planning it
requires employers to review existing talent and
evaluate growth and development opportunities
internally, rather than via recruitment.
Assessing the current skills and abilities within
the team will enable managers to strategically
plan targeted development programs that consider
any potential skills gap. Organisations also need
to consider the rise of digital and online
learning in talent development. From the Linkedin
Learning survey, 58 of employees prefer
opportunities that allow learning at their own
pace. The same report revealed that 49 prefer
to learn when the point of need occurs making
accessible, independent online learning the most
suitable for an increasingly diverse,
multi-generational workforce.
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