Why Workplace Training and Education is Crucial for Business Growth

Advanced Benefits - Employee Training and Development

Overall, there are a variety of sources about workplace training and development. In this article, we will uncover the top key reasons and results of employee training.

When it comes to educating staff, employers should know the ultimate return on investment for the business and its overall performance. However, most employers misinterpret the power of knowledge and forget how important staff training really is.

You will notice that some of the world’s largest companies undertake regular corporate training and development as part of their employment which they must complete a certain amount of course units to either stay within the company or industry (Registered training & non-registered training organisations).

What are the 4 key influences on employee training and education?

1. Higher Job Fulfillment and Confidence Among Staff

The development and competence in the workplace will dramatically increase both the employees and employer’s fulfillment and confidence. If a person does not understand a topic or system, they may find it difficult to hold workplace fulfillment and confidence among their peers and employer. Giving staff the right guidance will give them the right confidence to drive the business to new heights without being held back by the lack of knowledge and understanding.

So, what gives an individual confidence in the workplace?

• Sense of entitlement
• Industry preparation and organisation
• Removal of negative thoughts and setbacks
• Understanding strengths and weaknesses
• Accepting criticism

2. Less Staff Turnover

There is nothing more tiring, time and cost consuming than having to find and recruit new employees, especially on a monthly basis. Going back to key point 1, proving the right training will not only give your staff a sense of entitlement and competence in the workplace but gives them a reason to keep moving forward within the existing business as opposed to moving on to another field or organisation due to a complacent and repetitiveness atmosphere.

There are countless reasons as to why staff leave the workplace, however, we can pinpoint a couple of solid reasons which relate to workplace knowledge and training.

1. Boredom and unchallenged by the work provided. When staff feel unchallenged they will tend to lose motivation and consequently have a sense of worthlessness which leads to resourceful actions.
2. Discrepancies with other staff members on how things should be done according to unknown sources. Employees will always try and outdo others with their witty remarks and acclaimed skills. This sort of behavior leads to a disconnection with peers and a hate-like nature. By having an equal learning ground, staff may reduce these ‘witty remarks’.

3. Productivity and Financial Uplift

One of the key motives for employers to train their staff is productivity (efficiency). The efficiency of employees and teams reflect an abundance of advantages which follow a sequence of financial growth and brand recognition. The more productive and efficient your employees become, the more revenue your business produces. Sounds simple, right? And although this may seem like a simple equation, the overall setback ultimately lies with the question of "what happens if I have recurring staff turnover"? "will I just be wasting my time and money on someone who will leave the company in a month’s time?

This all comes down to trust and confidence within your organisation and should be determined with strategy and rationality.

4. Legislative Risk Management

This is without a doubt one of the most underestimated topics in the workplace and consequently, is never fully understood. Laws change on a regular basis which can be quite difficult to stay on top of and unless you undertake recurring training for your staff, then your employees may find it rather difficult to comply with workplace guidelines and standards (Legislation).

From a legal perspective, workplace errors can be costly to employers and the company’s brand. Therefore, holding regular training will not only improve the quality of appreciation but help employees make the right decision whichever the case may be.

Overall, employee workplace training and education can be highly advantageous for business performance and financial growth. Knowledge is power and with great power comes great results.

Whether you are running a small or large business, training can be profitable.

Northwestern Institute is an Australian owned and operated company created specifically to provide solid and proven education and training services including: Corporate Training, Rpl, Skills Assessment, E-Learning and Face to face upskilling.