6 Reasons Why Training is Worth Every Penny
Building a solid team takes more than just good hiring practices, it also involves investing in professional development or something many of us simply call “pro-d”. And of all the things that contribute to the business bottom line, nothing fits the bill like pro-d.
Here are the top 6 reasons why your organization should promote professional development:
- Improved retention: retaining and building your team should always be at the forefront of your HR decisions. Offering pro-d to your team shows them that you care about their career development within your organization and provides them with the opportunity to grow their knowledge. It costs an estimated $15,000 (on-average) and many months to onboard new employees to vacant positions. If you can prevent that expense by investing a fraction of that today, why wouldn’t you?
- Competitive attraction strategy: think of pro-d as an integral part of your overall attraction strategy. Providing pro-d can attract highly driven and career focused candidates when you are actively recruiting. Consider highlighting pro-d during job postings and interviews to highlight your company’s culture of continuous learning.
- Enhanced confidence, credibility, and efficiency: when your team is better informed, they can better serve your clients, customers, and even other staff. Building confidence in your team leads to better outcomes, faster. In turn, the entire organization benefits from improved reputation, and everyone benefits by receiving better service. This is a win all-around.
- Build your succession planning from the ground up: A well conceived pro-d plan can be a huge contributor to training future leaders in your organization. By offering your team a pro-d plan that allows them to master new skills, you are making it possible for them to progress. Combine that with the existing knowledge that internal team members bring with them to their new role, and you could realize tens of thousands of dollars in savings between recruitment and onboarding costs.
- Mitigate risks: an educated workforce is far less likely to engage in behaviour that creates risk to employers. Whether it’s bullying and harassment, or adherence to legislation, pro-d can make a big difference to your legal exposure as an employer. A small investment today can save countless dollars in the future. Think of it as preventative measures, it will not eliminate risk, but it does mitigate risk, which can be priceless.
- It’s fun! Pro-d done right isn’t just informative and valuable, it also provides your team with a break from the day-to-day grind. It refreshes your team as they get back to their tasks with increased energy levels and a few new skills that allows them to approach their jobs with a different perspective, often leading to better outcomes.
Your Engaged Assignment: When was the last time you discussed a pro-d plan with an employee or a team? Start asking some questions and find the learning that people are hungry for, and then make it happen. You won’t regret it!