4 Business Benefits of Employee Training and Development

Employee training and development programs are the nerve center of your business. Not only do they provide your staff with career development opportunities, but also attract new candidates and reduce employee turnover.

Here are four benefits of employee training for your business.

1. Minimizing the Risk of Injuries in the Workplace

A health and safety policy sets out the procedures and plans your company needs to implement to reduce the risk of injury and illness in the workplace. Unsurprisingly, employee training is its essential part.

For starters, provide new team members with introduction training. It should include several standard health and safety procedures, such as CPR training, accident reporting, using personal protective equipment, and safe use of workplace tools and machinery. As health & safety policies change over time, offer refresher training, too.

Apart from keeping your staff members healthy, employee safety programs also boost their satisfaction and morale. When they are worried about their health, they cannot perform at their best.

2. Attracting New Candidates

In a hypercompetitive small business landscape, attracting top talent can be challenging. Creating unique job posts and ads is not enough to get yourself noticed.

To put yourself in front of the right candidates, you need to build a memorable employer brand and strengthen the company culture. The goal is to build trust with candidates with the highest potential and encourage them to apply for your job positions.

Apart from the salary, savvy candidates consider multiple factors before applying for a job or accepting it. They expect your business to provide employee training programs and help them advance their careers.

Studies back me up on that. Gallup found that 76% of workers expect employers to provide career advancement opportunities.

Once you build an employee training and development policy, start promoting it via your website, social networks, and email newsletters. Highlight it in your job postings. Most importantly, create employee success stories to build trust with prospects. Let them explain what career advancement opportunities they have had at your company.

3. Helping You Retain Top Performers

The costs of hiring new employees are high. According to a research study by Glassdoor, the average U.S. company spends approximately 52 days and $4,000 to hire a new employee.

The costs of replacing an employee instead of filling a new position are even higher. According to statistics, it can cost you up to 60% of their annual salary.

While attracting new candidates is vital to your company’s growth, retaining top performers should remain your priority. That is where employee training and development programs can help you.

Employee training gives your staff the feeling of value and acceptance. By investing in their career development, you show that you understand their value and importance to your organization.

Knowing that they are appreciated, your employees will stay engaged and perform better. Most importantly, they will stick around with you longer. According to recent research, 40% of workers who receive poor training leave jobs within the first year. On the other hand, their peers who are satisfied with their career development are 59% less likely to search for new jobs.

4. Building Trust with your Target Audience

In today’s era of digital marketing and online businesses, customers have more choices than ever. They can now compare brands and pick ones that seem trustworthy.

They are more likely to purchase from brands that align with their values and attitudes. According to statistics, 81% of consumers need to trust a business before making a purchase. That is where employee training and development steps in. Knowing that your sales and customer service agents are certified and knowledgeable, customers will make purchasing decisions faster.

Also, employee training improves their overall competence and performance. They will be more likely to answer customer questions and solve their issues efficiently. Above all, by investing in employee training, you will reduce the risk of error.

That increases customers’ satisfaction with your brand, accelerates purchases, and drives positive word of mouth. By providing exceptional customer experiences, you will inspire their loyalty in the long run.

Ready to Invest More in Employee Training?

Employee training and development policies benefit your company on multiple levels. It helps you attract new candidates, retain top performers, and increase workplace engagement. Above all, you will keep your employees safe and increase their productivity. That way, you will meet customer needs faster and boost their satisfaction.

Do you have a workplace training and development policy? How does it benefit your business?