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Why It's Critical to Invest in Employee Training and Development

Why It's Critical to Invest in Employee Training and Development
From Recruiter - February 22, 2017

Henry Ford allegedly once said, The only thing worse than training your employees and having them leave is not training them and having them stay. This statement, regardless of who its true author may be, will never lose its relevance. There is no manager who doesnt want highly skilled specialists on their team.

Unfortunately, a lot of these very same managers consider professional development to be the employees concern, not the companys.

If you believethat hiring an experienced employee trained by someone else is less expensive than training employees yourself, you are mistaken. Such an employee will never feel loyal and devoted to your company. They will be much more likely to leave than employees in whom youve invested time and money. When they leave, youll have to go looking for a replacementhoping the next one doesnt leave as well.

Employees are your companys most important assets. Their training and professional development issomething you should invest heavily in.

The Benefits of Investing in Employee Training and Devleopment

1. A Competitive Advantage Over Other Companies

Competition for talent is growing. Offering an employee development program as part of your perks and benefits is a good way to attract candidates to your organization rather than your competitors.

2. Increased Employee Loyalty

When a company invests in employee training and development, employees feel valued and appreciated. This makes them more loyal, and the more loyal your employees are, the more likely they are to both stay and to refer skilled friends and colleagues to work at the company. Plus, loyal employees are more engaged and motivated and require less supervision.

3. Decreased Turnover

According to research from SHRM, employee replacement can cost a company between six andnine months of the departed employees salary. Aside fromthe direct financial losses, a high turnover rate also affects the companys market position, profitability, and revenue. By training employees and investing in their career development, you can makethem feel valued by your organization. This will lead to longer employee tenures and less turnover.



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