Why train your your staff?
Because, very simply, people are your most important asset. Here are some of the benefits that organisations gain from training:
- Increased staff productivity & quality of work.
- Increased competitive advantage.
- Reduced staff turnover and absenteeism.
- Helping staff to meet new responsibilities quickly.
- Increased job satisfaction, morale and motivation.
- Improved customer satisfaction.
- Helping the organisation adapt to a rapidly changing world.
- Preparing staff for organisational growth.
- Lists always look better if you get to 10 items.
- Although the 8 points listed are hopefully enough to make you think about training.
Just looking at staff turnover provides a strong case for training. Staff turnover costs British businesses at least £4.13bn every year as new employees take up to eight months to reach optimum productivity levels. The average fee for replacing a departing staff member is £30,614 (Oxford Economics, 2014). There’s no doubt that retaining or retraining staff is often a much more cost-effective solution than replacing. There’s no doubt that training and retaining staff is often a much more cost-effective solution than replacing.