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Employee investment is essential for business success. Here are 5 reasons why you should invest in employee training and continual development:

Attract and retain employees

Training can be seen as a benefit in itself when looking to recruit new talent. Through investing in your new recruits can set you aside from competition. This can also help attract candidates who are ambitious and have a drive to develop their skills set. With this in mind, if you are willing to invest in your staffs long term career they are likely to be more loyal and therefore in turn reduce your need to be rehire in the long term.

It is a good idea to include a repayment provision within employee contracts. This ensures training costs incurred by the company can be remade by an employee should they leave within a specific time period after completing the training.

Promotable employees

Do not overlook your long term workforce. These employees are likely to know your business inside out, offering training opportunities to existing staff can encourage promotable employees. This will make the transition period easier as opposed to a new recruit, due to your existing staff having a sound understanding of the business. This eliminates the additional costs and time associated with training new recruits.

Employee morale

Offering training to your employees can help boost their morale. Furthermore, your staff will feel that their contribution to the company is recognised and shows you support them as an employer. This can only have a positive effect on morale. Therefore, boosting employee retention which will reduce hiring and long term training costs. Alongside the above, happy staff will increase productivity and output, this is discussed further below…

Enhances operational efficiency

If your staff has received training it is likely to boost their confidence in performing the role. With their morale increased, employees will work hard, faster and increase the quality of products/services. Regularly reviewing individual employee training needs, you can identify areas where your staff may feel they are lacking confidence or not as efficient. Rather than ignoring these needs, and addressing them through specific training can only enhance the operational efficiency throughout the business.

Exceeds industry standards

Employees who are well trained in industry-standard best practices will help build on your reputation and can make your business stand out from competitors. Therefore, knowing your staff understand and work towards the recognised best practice within your industry will increase employee confidence, alongside your clients. This can be an extremely important factor your clients may look for prior to working with a business. Presenting your company to really invest in the importance of your staff knowing industry-standards will only work in your favour.

Continue reading, check out our blog post ‘How to put the “human” into human resources..’