In a time of great upheaval for working practices around the world, employee learning and development can be overlooked. However, HR News recently reported on the importance for businesses of keeping their staff learning and development opportunities up to date and accessible. Here are some of the major benefits.
1. Greater job satisfaction
Employees who are offered regular training and development opportunities report much higher job satisfaction levels. When equipped with the best knowledge and skills to carry out their job, staff feel more confident and fulfilled in their roles, which in turn boosts productivity and morale.
2. Improved retention rates
It costs on average five times more to hire a new employee than it does to keep an existing staff member, so it makes sense to make employees feel valued and keep them challenged and interested in their work. Studies show that staff are far more likely to stay in their jobs if they feel the company is investing in their career development.
3. Increased productivity
Well trained employees are more confident and efficient at carrying out their job roles, saving time and boosting productivity. Staff who are kept up to date with best practices in the industry mean the business will be operating at maximum efficiency.
4. Lower risk of accidents
When staff are regularly trained and updated in the correct use of equipment and conduct, it lowers the risk of workplace accidents.
5. Higher quality of job candidates
HR News reports on a Gallup survey which found that 87% of millennials cite learning and development opportunities as a very influential factor on deciding whether to accept a new job. It is now seen as standard practice, and millennials, who will soon make up 50% of the workforce, would avoid any company which is not prepared to invest in their future.
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