Being a good employer is a very important aspect of owning a business nowadays.
With job hunting online taking the difficulty out of finding an alternative, offering your employees more than a basic wage – offering them prospects -has become an essential way to retain staff and keep your business growing.
This workplace evolution has led large brands to offer some pretty elaborate training plans, but you don’t need to break the bank, you just need to be clever about how you approach it.
Here are the top reasons you should invest in your staff’s knowledge…
Save On Hiring
You may have already noticed how expensive it is to find a new employee. Recruiters fees can mount up, especially if you’re having trouble filling the position. Taking the approach of training, if it’s possible, will save you more than a recruiter’s worth of money.
By training and then promoting within the business you’ll more than likely be able to have a member of staff doing a more skilled job, but will likely be able to offer a wage on the lower end of the salary scale.
This might sound like a disadvantage, having a worker learn the skills, but imagine the recruitment cost and then the cost of hiring someone who knows you’re desperate for them.
Eventually, when it comes to hiring to fill the spot of your newly trained staff member, you can advertise for a lower position, which will likely be easier to fill, saving you on recruitment again.
Improve Staff Loyalty And Retention
By offering employees the opportunity to grow within the business you remove their need to look elsewhere for advancement, and trust me, they do want to stay.
Remaining in a familiar environment, with people and a business they know, is a main aim for most people – why go anywhere if you’re getting everything you want?
You might think that every single person you employ is brilliantly happy with their current role, and some are, but will they be in two years? Ten? Twenty? Unlikely. Overlooking this at any point of someone’s time with your company is a little shortsighted.
For financial reasons, and often for the fulfilment, people want advancement, by building this in via training from the start you make employees feel valued and indebted to your business – a loyal staff can do wonders for any business.
Help Your Business Grow
Even in a business with good, steady growth, employee education can benefit you. By sending your managers on a course you could improve your productivity, by training your purchaser you could save on materials and improve logistics.
Investing in areas other than technology, product and delivery can reveal industry opportunities you were unaware of and lead to great things. Growing with the trend, in the case of employee education, is probably the best business move you can make this year.
There’s a number of ways to use skill building to save, innovate and develop. If you’re not sure where to start, GP Strategies learning consultants can help you find the right learning tools for your company.
Join them in celebrating the #evolutionoflearning and see what it can do for your business.