Attracting, developing, and retaining high-performing employees is at the core of successful companies. High-quality training programs result in irrefutable paybacks including higher productivity, lower turnover, fewer safety accidents, and job satisfaction. It’s also important to understand the cost of not training employees. Neglecting to implement training essentially means neglecting all areas of your organization. An effective training program is imperative for running a successful organization.
Today, more than ever, having a strong training and development plan is essential for recruiting. Millennials consider learning and development to be one of the most compelling reasons to join a new organization. Generation X and beyond also need opportunities to upskill and reskill as technology and markets shift. Without proper training opportunities, you could see challenges with employee turnover, retaining employees, and missing out on top recruits.
To truly understand the value that training adds to your organization, it helps to look at the consequences of the lack of training.
Here are a few of the ways ineffective training can affect your entire organization:
Untrained Employees Show Weaker Performance and Lower Retention Rates
Low performance is one of the most obvious outcomes of having a weak training program or none at all. Employees who have not been trained properly will produce less work and at a lower quality. Less knowledge and training lead to a lower level of performance, resulting in less profit. This type of work often leads to errors, quality issues, and time lost repeating activities. It also has enormous implications for customers, suppliers, and other stakeholders who are all negatively impacted.
Performance failures resulting from a lack of training can then spiral into low employee morale and retention rates. Employees place a lot of value on the importance of having the skills needed to perform at work. When the tools to learn and succeed are not in place, and performance suffers, attrition occurs. Workplace morale suffers when mistakes are made and the company doesn’t perform as expected, leading to even lower retention rates.
Employees who are well-trained with the skills necessary to perform their job will deliver high-quality work and have a positive impact on the organization. Working effectively leads to a boost in confidence. This leads to greater job satisfaction and improved employee retention. Higher quality work often translates to customer satisfaction and improved relationships with suppliers and other stakeholders.
Unsafe Work Environments
Often people think that health and safety training is only for hospital staff, construction workers, and law enforcement. Safety training should not be reserved for any industry and should be enforced in all organizations. By training your employees on best practices for maintaining a safe workplace, you will significantly reduce the number of incidents that may occur. It is an organization’s responsibility to do everything in its power to keep its employees safe and healthy. Training is a key preventative measure to be taken. Having a reputation as an unsafe employer can further weaken retention rates.
Physical safety is not the only safety-oriented training to consider in your organization. Creating an environment of psychological safety will help employees feel confident when asking questions and providing feedback. Encouraging employees to take risks, make mistakes, and be transparent are ways to create psychological safety in your organization.
Lack of Knowledge of Industry Trends and Policies
In our rapidly changing society, staying at the forefront of your industry in terms of knowledge is no longer just a nice to have. An organization that is a leader in its industry can drop in its rankings simply due to a lack of training. By neglecting to educate your employees on trends, policies, and advancements within the industry, your entire organization will miss out on key innovations within the industry. Companies bridging the gap to upskill and reskill their staff is more nimble and competitive, allowing them to pivot and stay ahead of trends.
Additionally, by not training your employees on new policies, mandates, requirements, and practices as they arise, you can even run into legal issues with your organization, which, in turn, can be extremely costly.
Training Reduces Risk and Improves Productivity & Retention
Not only does training have a positive impact on nearly every aspect of your organization, but it also helps prevent disastrous mistakes from occurring within your organization. Organizations can see improved productivity and job satisfaction, as well as lower turnover when the right training programs are put in place. Developing a robust training program can keep your company competitive, healthy, and productive.
Learn how to select the right training partner to help you develop effective training programs for your organization.