Have you ever wondered why employees leave companies so soon? Or why employees don’t seem to be satisfied in their role? Or why companies seem to be wasting time and money in areas that don’t truly grow the business?
The reality today is that organizations are investing more in training and development than ever. The overall spending on employee training in the United States is around $165 billion (Eades, 2014). Yet, even with all this time and investment towards training, organization are still searching to effectively transfer practical knowledge into performance results. The truth is that when employers realize the power that training and learning development can have on their organization, they will be willing to make the investment because it will pay dividends.
This investment in training can reap results in:
Less Employee Turnover: Keeping well trained employees pays off significantly because the cost of employee turnover can be high. The reality is that 40% of employees who receive poor job training leave their positions within the first year (Woolf, 2014).
More Employee Satisfaction: According to statistics 76% of employees want to do their job well, but feel they lack the tools to grow (Woolf, 2014).
The end result is that when training and learning development is weaved together with a business strategy it results in more money and time for the whole business (Noe, 2014) I would say it’s worth the investment, wouldn’t you?
Eades, J. (2014). Three ways to measure training effectiveness. Retrieved from: http://elearningindustry.com/3-ways-measure-training-effectiveness
Noe, R. A. (2013). Employee training and development (6th ed.). New York, NY: McGraw Hill.
Woolf, S. (2014). 5 Surprising Employee Development Statistics you Don’t Know. Retreived from: http://blog.clearcompany.com/5-surprising-employee-development-statistics-you-dont-know