For many organizations, a major consideration in the decision to invest in employee training is the benefit that the training would bring. We at Illinois BIS see first-hand the varied and measurable benefits that employee training can bring, not only to employees, but to their organizations as well.
This post outlines some very important, and sometimes unrecognized, benefits that can be achieved by investing in employee training.
- Increases efficiencies in processes and performance
One of the primary reasons organizations choose to invest in employee training is to teach employees new skills or improve their existing skills and processes. A relevant and well-executed training program will provide employees with skills, tips, techniques, and other tools to increase performance and productivity. Employee training often results in improved process efficiencies and cost savings for the organization due to reduced errors and time spent on corrections and re-work.
- Closes skills gaps
One of the challenges we often hear is that it is difficult to find and hire qualified people. Upskilling or reskilling your current workforce is a great way to address this issue! Most people want to learn and do a good job. And most people want opportunities for growth within their organizations. Training existing employees allows you to create the team with the specific skillset your organization needs, while also showing your current employees that you are willing to invest in them. Who better to have (and keep) at your side than your existing employees who already know your business?
- Increases employee morale, job satisfaction, and retention
Once you have found good employees, you do not want to lose them. Providing learning opportunities to employees makes them feel valued and engaged. When people feel valued and important to their organization, job satisfaction increases. When employees are satisfied and engaged with their job, they are less likely to leave for new opportunities. According to the LinkedIn “2019 Workplace Learning Report,” a notable “94% of employees say they would stay at a company longer if it invested in their learning and development.”
- Helps to boost customer satisfaction and retention
Can employee training help to boost customer satisfaction and retention? Yes! Well-trained employees often make productive employees. Productive, skilled employees help meet customer needs efficiently and competently. When customers’ needs are being met or exceeded, they are likely to remain customers. As the members of your workforce become increasingly skilled, so does their ability to adapt and innovate processes to accommodate changing needs. A team that can adapt to and grow with customer and industry changes can have a powerful and positive impact on your organization’s reputation and ability to maintain critical customer relationships.
Discover how Illinois BIS can help develop a training plan for your employees.
Illinois BIS can work with you to develop a customized training plan for your employees based on the needs that are specific to your organization.
The Chicagoland Chamber of Commerce and Illinois BIS have a partnership to help companies with workforce training. With funding from the State of Illinois Department of Commerce & Economic Opportunity (DCEO), the Chicagoland Chamber is providing grants to Illinois-based companies to improve or upgrade the skills of their current employees. Grant-eligible companies may be reimbursed for up to 50% of training costs.
Source: LinkedIn: 2019 Workplace Learning Report