Importance of Employee Training: Reasons Why It Saves You Money

“If you take care of your employees they will take care of your customers and your business will take care of itself.” J. W. Marriott

Importance of Employee Training: Reasons Why It Saves You Money

The two biggest resources used for job training are time and money. Those are also the main excuses not to train: “we are too busy to learn something new right now” and “we just don’t have the budget to pay for training.”

Most business managers wouldn’t hire unqualified employees, but so many of them do employ underqualified workers. Often, the reason that employees become underqualified is due to the changing technology or the development of new methods.

Having a trained workforce means your workers are learning new skills that can improve production, cut time spent in creation of your product (or service), reduce production costs, reduce mistakes, build confidence in your workforce, and create a better working environment.

Buy-in from the top – the training must be supported by the management in order for the team to understand that is a process and not a singular learning event.

Alignment with corporate goals – training should be correlated with the company’s goals plan. In order to meet the new objectives, the upgrade skill set of company’s workforce is required.

Needs analysis – accurate assessment of what is done well and what needs to be improved.

Follow up – after the completion of training the opportunity to apply the new skills should be a priority. Discussions with the employees after the training is needed in order to ensure that the training was valuable and provided them with new skills. 

An investment in your employees’ skill sets is an investment in your company.