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5 ways training your employees can boost your profits

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Delivering training can be an expensive process for any company. 

Depending on the size of your business, this can either mean that time has to be dedicated by yourself or other member(s) of staff - taking them away from their own roles, detrimentally affecting productivity.  If specialist trainers are brought in, courses out-sourced, or even day-release at college or a training provider, then this is added cost to the business.

So why train your employees?  Think about what it would cost to not train them and consider these positive outcomes:

Attracting and retaining the best talent
In today’s candidate-led job climate, attracting talent is increasingly challenging.  Offering continuous development is often seen by job seekers as a benefit in addition to their salary and leading to career progression.  It shows that the company cares about its workers - and reputation is all important when attracting the most skilled applicants. It can give a company the edge over competitors when candidates have the choice of which job to take.

As well as improving the employee’s performance, which is in turn beneficial to the company, it’s more likely to build a sense of loyalty, leading to reduced staff turnover, and in turn improving your company brand.

Get ahead of the rest
A workforce that is up to date on the latest techniques and procedures can steal a march on competitors and put them ahead of the rest.  With constant technological changes, companies can’t afford to become complacent or fall behind.  Well-trained and knowledgeable employees require less supervision, make fewer mistakes and are ultimately more profitable – meaning a greater return on your investment.

Bridge the skills gap
Regular training means that any skills gap can be readily identified and remedied.  Refreshing workplace knowledge means staff are implementing good working procedures, which whilst learnt on first starting a role, may have seemingly become less important due to complacency.  Reminders mean good practice becomes second nature.

Providing promotion opportunities
If training is costly, then so is recruiting new employees.  Should a vacancy occur, then a well-trained member of staff may be more suited to fill the role – they are already well-versed in the company’s way of working and a ready-made culture fit.  Ultimately you will also feel they can be trusted having been a part of the company, and no on-boarding is required.  Identifying the best person for promotion will be easier when you have a pool of talent to choose from.

Increased job satisfaction
Once they feel confident that they are a valued, well-trained and fully contributing part of the workforce, then confidence will grow, as will job satisfaction. This in turn leads to less time off sick, better mental-health and an all-round better attitude to work.  Improved morale means improved productivity – everyone wins!

Making regular training and staff development part of your organisation is advantageous to both employer and employee alike.  Should you like some advice on delivering training, or a referral to a good training provider, then speak to Sarah at Recruit Recruit, who can point you in the right direction.  Call 01902 763006 or email sarah@recruitrecruit.co.uk.

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