The 10 Key Benefits of Training and Development
1. Performance – An organisation’s performance is only as good as its weakest performer and L & D enables employees to be more capable performers. It instils confidence to enhance their overall performance and this is reflected in improvement of overall organisational performance. Employees who are competent and adaptable through training flourish in the constantly changing environment to ensure that your organisation is ahead of the competition and a formidable player in the marketplace.
2. Employee engagement, satisfaction and morale – the investment in training demonstrates that the organisation values its human capital. When people feel valued and recognised for their contribution they will not only make that extra effort but enjoy augmented job satisfaction.
3. Risk Management – an area often overlooked and covers not only legal compliance but minimises risk in issues of bullying, harassment and discrimination, health and safety and employee mental and physical well-being.
4. Self-efficacy and Self-esteem – L & D when tailored to the individual’s needs improves both self-efficacy and self-esteem enabling them to become better and more efficient learners. This in turn, adds to employee resilience in dealing with change and innovation.
5. Addressing gaps and weaknesses – all employees have some weaknesses in their workplace skills and teams often are missing a critical competence or aptitude. L & D not only addresses weakness but enables cross training to support teamwork and facilitates the interdependence required in the modern organisation.
6. Consistency – A robust learning and development programme ensures that employees have a consistent experience and understanding relevant not only for maintaining efficiency but also to ensure that policies and procedures are carried out to the expected levels. All employees should be aware of the organisation’s expectations of them in terms of behaviour and performance.
7. Increased productivity and quality – an obvious benefit of course is increased productivity when an organisation offers learning and development for individual, team and function.
8. Innovation in strategies, services and products – giving employees mastery and autonomy unleashes innovation and creativity. An inclusive and diverse workforce creates new ideas and alternative ways of working to the benefit of organisational effectiveness and personal job saitisfaction.
9. Reduced turnover – because employees are more likely to feel valued if they are invested in they are more likely to be loyal and committed to their role and the organisation. In turn this means recruitment costs go down and profits go up.
10. Enhanced Employer of Choice reputation and profile – having a successful and innovative L & D strategy helps to develop the employer brand and make your organisation a prime consideration for graduates and mid-career changes. Training can be of any kind relevant to the work or responsibilities of the individual, and can be delivered by a range of interventions and activities designed to stimulate learning and motivation.