Smart managers and HR departments understand the benefits of tailored staff training.

An investment in tailored training can create a strong workplace culture where team members feel valued and appreciated, resulting in loyal, long-lasting and high performing employees. Tailored training improves staff performance and retention, leading to increased profitability.  
See below for our 7 stand-out stats on staff training.

1.Training = Retention = Cost Savings
Did you know that the cost of losing a staff member within the first year of their employment can be up to three times their salary? Three times!!! It’s therefore critical to foster a workplace culture that encourages employment longevity.
The time and effort needed to get a new employee settled in their job is huge – and it’s something that impacts on many other employees also. Investing in thorough, tailored training from the beginning means you can help new employees understand their roles, the company and their potential to grow within the business from the get go.  With strong training you can boost job satisfaction and show that a viable employment future is possible with your company. [1]

2.Employees want more training
In a survey of 4300 employees, a whopping 74 % felt that they were not able to achieve their full potential in the workplace. Without the skills and confidence to do their job properly, many employees are struggling to fulfill their roles.  This has a dramatic and negative impact on business productivity.
Provide your employees with the skills and knowledge to excel in your workplace through tailored training. [2]

3.Training increases Productivity

Want a more productive workforce?  Training’s your answer. According to European workplace studies, increasing the number of workers trained by a mere 5% can increase productivity by 31%.

4.Training is Better Than New Equipment at Increasing Productivity

Training is even better than new equipment at increasing workplace productivity. According to an Exenatide Once Weekly (EQW) study of 3100 workplaces, investment in training delivers greater gains in productivity than equivalent investment in equipment. [3]

5.Workplace Training Boosts Profits

Companies that have a strong learning and development culture achieve significant financial returns. Tailored training can give a ROI (return on Investment) of over 30%! [4]

6.Trained Managers = Productive Managers

Training intervention with managers has shown to increase manager productivity by 22%.  
Yet, most businesses aren’t leveraging this easy win to increase their productivity and profitability.
In the United States, a recent study showed that companies with less than 100 employees only delivered around 12 minutes of manager training every 6 months. In larger companies, with between 100-500 employees, the statistic was even worse, with just 6 minutes of training time delivered every 6 months.  Win quick productivity gains by training your managers.

7.Training increase capacity

Businesses that invest in training will see a significant increase in capacity. The Gartner Group (an American research and advisory firm) found that for everyone one hour of training businesses gain 5 hours of increased capacity. [5]

References:

1. Huffington Post, Employee Training Is Risky Business, http://www.huffingtonpost.com/emad-rizkalla/not-investing-in-employee_b_5545222.html
2. The Learning Wave, Survey Shows Employees Want More Workplace Training,http://www.thelearningwave.com/survey-shows-employees-want-more-workplace-training/
3. Training and Development Leads to Higher Productivity and Retention, Gregory P. Smith, https://www.businessknowhow.com/manage/higherprod.html
4. SAFC, Benefits of Training, www.the-linc.com.au/files/405_benefits_of_training.pdf
5. The Economics of a Training/Learning Culture, Gary Boomer, https://www.firmofthefuture.com/content/the-economics-of-a-training-learning-culture/

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