The importance and value of providing regular training and development for your employees should never be underestimated. Training can have many company-wide benefits, including increased staff motivation, better efficiency and productivity, and more accurate work. But the benefits aren’t self-contained: high-quality customised training can also shape your business’s reputation and success by securing loyal customers who think of your brand first.
In this article, we’ll explore these benefits in more detail.
1. A More Affordable Solution
Hiring new staff isn’t a cheap option. According to Oxford Economics, the average cost of taking on a new employee is £30,614. While this figure may be surprisingly high even on its own, it’s important to remember that not all costs are visible: for example, while a new team member learns the ropes, your business’s productivity will decline, and existing colleagues will have to take on additional responsibilities. A new employee may not reach their full productive potential until two years in post for many specialist roles. Improving staff retention is, therefore, critical: with up to 30 per cent of staff leaving within just six months of their appointment because of poor professional development or insufficient onboarding, it is more cost-effective to implement a programme of training than to constantly replace disgruntled staff.
2. A More Efficient Workplace
Profitable businesses depend on a high level of workplace efficiency. A programme of training, designed to specifically address the needs of your workforce, can significantly improve your team’s performance, and empower them to work in a more efficient way. For example, they can be trained to complete tasks in a shorter time, so that more work is completed without the need to increase salaries, extend the working day, or recruit additional staff. And, because training can be delivered collectively for individuals’ benefit, you’ll achieve a quicker return on investment (ROI).
3. A More Productive Workforce
Regular workplace training can help to hone your team’s knowledge and skills, so they learn to work more accurately and productively. Because your staff are more likely to complete tasks correctly first time, there will be less need to spend time and resources on reworks and customers are more likely to be satisfied with product or service delivery. This will improve your business’s reputation, cement positive relationships with customers, and increase sales.
4. A Loyal Customer Base
While customer loyalty varies between businesses, statistics strongly suggest that losing customers can be damaging for your company’s profitability. The 80/20 rule – 80 per cent of business comes from 20 per cent of customers – proves that retaining regular visitors is critical. This is relevant because employee training can strengthen and grow your customer base by improving customer satisfaction levels. Experienced staff will continue to get better at providing responsive customer service – and customers appreciate consistency in the people they deal with at your organisation, too. Many customers are uncomfortable with high staff turnover. Long term staff who have excellent product knowledge, complete orders quickly and accurately, or possess superior customer management skills can enhance your business’s reputation.
5. A Tailored Solution
Finally, training should always be customised to the needs of your employees and business. A wide range of training is available, including in-person and online, and can be adjusted to ensure your staff enjoy maximum benefit from new knowledge or skills. By investing in tailored training, you’ll achieve a quicker ROI and keep within your business’s budget.
Contact Kingdom To Find Out More
For more information on our tailored training solutions, please call Kingdom today on 0330 022 9422 or click here and our team will be delighted to assist.
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