“40% of employees who receive poor job training leave their positions within the first year,” according to Go2HR.
As I am sure most of you will agree, investing in your employees leads to a better workplace environment overall. While this may seem like a challenge financially, this investment will save you more money that you spend. “Business objectives cannot be realized until the new applications are in place and users have embraced and are proficient with the new applications and processes.” – Michael Guay, Analyst at Gartner.
Work From the Bottom Up — through Employee Training
Keeping employees happy and better trained is crucial to a business’ success. In an interview with Forbes a few years ago, Diana O’Brien, principal at Deloitte Consulting LLP and managing principal of Deloitte University stated “If we didn’t invest in the development of our professionals, it would be akin to a manufacturer not upgrading equipment, yet still expecting improved productivity.”
In this sense, Deloitte is working from the ‘bottom up’. By improving employee training and enhancing their knowledge, employees have more motivation and knowledge to engage with customers and ensure that their needs are met. This indirectly enhances customer experience.
As O’Brien points out, improving employee training works to enhance their skills with customers. When employees know more about the tasks required and company policies, they are better able to engage and address customer needs. Moreover, it is crucial to foster and appreciate employee morale. Happy employees make a positive difference when interacting with customers – an unhappy employee will not be motivated to work to their full potential.
Reduce Employee Turnover — Through Investing in People
High turnover takes a toll on a company’s bottom line. Joanne Galimi, managing partner at Gartner Consulting notes the importance of positive company morale: “Low staff morale and high turnover not only impedes successful system implementations but could cause delays and raise costs as a result.”
Better trained employees reduce turnover. Training employees and declining turnover result in a reduction in costs. Indirect costs include lost sales due to training employees, when it could have been prevented by retaining the current employees that a business does have. These costs add up – as asserted by the 2011 Training Industry Report from Training, the amount on training increased by approximately 13% from 2010. This includes a rise in “overall training budgets and payroll” and investing in “outside products and services”.
Ultimately, while it may not seem advantageous to invest in better employee training right now, the long term benefits outweigh the short term costs. Employee training results in increased engagement levels and it is proven that trained employees are more productive. WalkMe’s Employee Training program will help substantially with employee training and aid employees in retaining what they have learned. In
When all is said and done, you’ve got to spend money to make money. Improving employee training is well worth it.