Employees’ Training: The Formula to Train and Retain

Training Formula for Employees

Employees and organization always complement each other. One is incomplete without the other. This relation has been continuing ad infinitum.
On the one hand, employees devote their entire time, meticulously for the growth of the company, and on the other hand, a company takes care of its employees, their future, and their safety.
Sporadically it is seen that companies conduct employees' training session to upgrade them and build strong their efficiency and skills.
Sometimes training strengthens the bond between employees and company that runs long, and sometime after completing the training, employees left companies for a better opportunity.
There is no doubt that proper training helps employees obviate any disaster that could happen in the absence of any skills.
But irresponsible behavior of employees often forces companies to not to train them and instead work with their old school skills.

Why Employee Training is Important?

Henry Ford once said, “The only thing worse than training your employees and having them leave is not training them and having them stay.”
The statement is still relevant. No matter how big an organization is, it always requires skilled employees to work for it.
The modern market is all about cut-throat competition, and to survive it, companies require such employees who can give contenders a competitive edge with their skills and knowledge.

Here are some major reasons why employee training is important:

Progress in performance
With the help of training, employees enhance their performance level, which helps companies save cost and time.

Improve productivity
Another importance of employee training is the enhancement in productivity. It helps employees to run operation seamlessly.

Overcome shortcomings
Training help employees get acquainted with the state of the technology, so in this way, employees face their shortcomings and cover them effectively.

Less employee turnover
Training boosts the morale of employees. The enhanced skills & performance lead to utmost job satisfaction, thus results in less employee turnover.

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Why should a company invest in employee training?

This is the question, most of the learning and development managers ask themselves before conducting an employee training session.
One of the most suitable answers to this question is that training makes an employee more valuable.
According to a survey by FORTUNE 100 Best Companies to work for:

• Many best companies in the world offer 66.5 hours of training to their salaried employees.
• Provide 53 hours of training for hourly employees.
• Reserve 31% of position for internal candidates.

When the world's leading companies such as Google, SAS, and Salesforce, to name a few, are investing a huge chunk of money and time in their employee training, it becomes imperative to learn something from them and start working towards building a robust workforce.

How to retain the trained employees?

Many studies have shown that the primary reason behind an employee leaving an organization is the lack of job satisfaction. Employees are hungry for growth and retain with the company that provides them the opportunity to grow comprehensively.
On an average, if a company trains 20 employees, there's a 20% chance that employees leave the company, but such employees are the ones who would leave irrespective of whether they are offered training or not.
Still, employee training is an expensive proposition for a company. It requires ample time and cost. Training Benchmarking Study found that big organizations keep $13 million budget for employee training, medium-size organizations keep a budget of $3 million and small companies spend $2, 90,000 including all hidden costs.
Thus, it is desideratum to retain an employee after an expensive and time investing training session. Here’s how you can retain the trained employee:

Training agreement
It is the most basic element which every company generally adopt. It is advisable not to include anything in the contract that diminishes employees’ morale.

Proper value to employees
Employees do not leave jobs; they leave bad managers. You surely do not want to be the one. So, never avoid your employees’ requirements, their problems, and other factors that bother them.

Strong company values
Always make your employees feel that they are indeed a vital part of an organization. Ensure them job security, take their opinions in major or small decisions. In this way, you can help employees keep all their nefarious thoughts away

Continuous training and development
Employees always seek for a company where they continuously grow. Provide them an environment where they grow personally and professionally because when it stops, people leave or look to leave a company.

Payment and benefits
No employee wants to fritter at the place where they do not get the desired payroll. If a company can afford, then it should provide its employees with a competitive salary & perks to employees. Sporicidal perks lessen employees’ turnover

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How investing in employees' training is beneficial for companies?

Following are the major benefits of employee training in an organization:

Trifling supervision
Training builds the self-confidence in an employee. With proper training, an employee gets accustomed to his or her work and thus requires minimal supervision.

Employee loyalty
Employees feel valuable when a company takes care of their skill development. Training session creates a sense of loyalty among employees & lessen employee turnover.

Promotion opportunity
Employee training paves the path of promotion for employees. It helps them to retain in a company for longer-term, and that’s how an employee becomes a valuable asset for a company.

Increased efficiency
With proper training, employees quickly become smarter and faster. They can easily evade drudgery while maintaining their work quality and efficiency simultaneously.

Updated with cutting-edge technology
Training means to keep oneself updated. Employees with proper training can keep themselves up-to-date with state of the art technological advancements that enhance their efficiency.

The Verdict

Employee training is imperative for every company. One simply cannot deny its importance. In the end, it’s the need of the hour to hone employees’ skills and talent from time to time, so that companies can survive a cut-throat competitive environment.
L& D managers need to understand that not all employees are the same. More than 90% of employees are grateful for learning something new every day that adds quality in their resume. The remaining 10% are the ones who will leave the organization anyway.
Therefore, think about that 90% of employees who matters and who sustain in an organization after the training to contribute to the growth and development of a company.

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