Look around at any successful modern business today, and you’ll notice they all have something in common. They all invest a lot in their employees. As most entrepreneurs know, a great product will only get you so far – but it’s the people that work for you that will drive your idea over the line. So, think about implementing learning programs for your staff if you want to see more success.
Today, we’re going to take a quick look at the reasons why so many modern businesses are looking into employee learning in great detail. There are some enormous benefits – not just for your employees, but your company overall, as well. Read on to find out all you need to know if you want to get ahead in the modern business world.
The pros and cons of modern technology
First of all, let’s look at something that is fantastic for modern businesses, but can also cause many issues: technology. When you think about modern tech, it has brought some fantastic opportunities for companies all over the world. Social media, open source software, and cloud computing has all contributed to a different playing field in modern times. Small companies have an opportunity to box in the same ring as the big boys. And, there have been plenty of successes that have only got where they are because of modern tech.
But, at the same time, it can cause several issues. For one thing, the rapid pace of change in technology can often mean companies are always chasing their tails. With every sweeping change in one piece of software, another one becomes redundant. So, it’s vital for all businesses to give their employees the opportunity to learn about those changes.
More productive employees
Want to increase productivity in your business? Then make sure you give your staff the chance to learn and educate themselves. The more people feel they are making progress in life, the more productive they tend to be. It’s natural to want to make the most of yourself, and if any of your staff members feels they aren’t, it can cause tensions.
Ask yourself how you would feel if your career was going nowhere. The chances are, it would make you miserable, and there’s even a chance that your attitude would catch on a little with other employees. Modern businesses understand this. And, increase productivity by making their employees feel like they are doing something worthwhile.
Better efficiency
Let’s be honest, as a business owner with employees, you can’t possibly know about every little thing in your business. In fact, there’s a good chance that all your employees know how to use systems and processes a lot better than you. And, you might even have changed your methods because of employee suggestions in the past.
Now, think about how much training courses could benefit your business. If your employees can give you the advice to make things more efficient just by using it, how much could they do if they were trained properly? You may consider providing pmp certification training to your employees to help them grow in their field. The more intimate they are with a product, the more chance they will have of finding a more efficient way of working. Ultimately, that’s going to be great for their confidence, and excellent for your bottom line.
Makes investment sense
Robust investment is all about managing risk. So, which do you think is the more risky approach? Blowing a large chunk of profit on a new product that is untested, or putting it into training up your employees? With all this extra productivity and efficiency you have going on now, it’s the perfect chance to make some more money.
You can trim your staff levels, for example, if people are more productive and efficient. You will also have a lot more time to yourself to do more profitable activities. Are you frustrated by having medical assistants knocking on your door every five minutes to ask for help? If so, then investing in an excellent medical assistant program is going to help you out in a big way.
It’s not as expensive as you think
On the face of it, sending employees off to a training course might appear expensive. But, when you consider the advantages we have listed above, it isn’t. Not only is it a sound investment, but it’s a cheap one – and, of course, if it’s business related, it’s tax deductible. You don’t have to invest in an expensive course, either. There are plenty of e-learning opportunities from some of the best universities in the world. If you screen the courses first to ensure relevance, your employees could even do them for zero cost. And, of course, you could always devise your own employee training scheme.
Training in the workplace has always had a negative reputation. However, all those old VCR recordings of people in early 1980s clothing have been replaced with much more contemporary. And, it’s affordable for most businesses, too. Think about whiteboard animation, for example. It’s a simple and efficient way of getting complicated information across. There are also plenty of opportunities to make your own HD videos, simple learning programs, and much more. If you have the time, it’s worth thinking about – especially if you are a business with little money to spare.
Promotes problem-solving culture
At its heart, education is all about learning how to think in a critical way. Given that all businesses need to be able to solve problems helping your staff embrace critical thinking is essential. You will find that your employees will come up with shortcuts that nobody realized would work before. You will also hear some grand ideas from your staff about how to improve your customer’s experience. And, you will have a much more rounded team on your hands, who can look at each situation with a critical eye.
It’s new ideas that help your business succeed. And, investing in training for your employees is a cost-effective way of getting them. It doesn’t matter whether you want to change systems., or encourage a culture of innovation. You have to be ahead of the pack if you want that success, and you can’t do it all on your own.
Relevant to any industry
All industries and employers can benefit from training their staff, no matter what they do. Let’s take a look at the manufacturing sector as an example. You might have an expensive piece of machinery that is delicate and breaks down often. Do you want to pay for a trained engineer to come out and look at it every time? Or would it be worth investigating training a couple of skilled employees to do it instead? It’s clear that training will be the bigger investment – but it’s a one-time payment. And, of course, it will be more cost-effective in the long term.
When you think about some of the most important industries, they all demand lots of training. The medical world, for example, relies on doctors and consultants learning new techniques. And, the legal industry is built upon learning about new rulings. If you want your business to grow, you could do far worse than take inspiration from the worlds of medicine and law.
Attracts talent
If you want the best people to come and do a job for you, then you have to have something to offer them. In many cases, it’s a high wage that will draw in people – but money doesn’t always find you the best people. The cream of the crop tend to command the highest wages, but it’s opportunity that often brings the best people to you, too.
If you build up a reputation as a company that invests in its people, then you will attract the talent you need to succeed. Look at all the top enterprises in the world, and it’s the same story. Sure, there is a desire in people to work for the world’s greatest brands. But, if they don’t have opportunities for personal growth, they won’t be around for a long time. Which, neatly, brings us to our next point: loyalty.
Promotes loyalty
One of the major costs that all businesses should try and avoid is rehiring and retraining. Retention is essential if you want to trim back on your expenses when it comes to your employees. And, the only way to keep the best people is to put your faith in them. Internal promotions are an ideal framework to work from, as it helps employees see their routes to the top. And, if you provide them with the educational tools to get where they want to be, they won’t need to go elsewhere.
Show your staff loyalty, then, and they will give it back to you in spades. It’s a sensible, cost-effective to keep your employees onside, keen, and eager to progress. If they can’t see those routes ahead of them, they will just go to another company where they can achieve their desires.
OK, so we hope you have got something from this list of benefits. As you can see, employee learning is essential for most businesses, if they want to forge ahead of the competition. Do you have any more tips? Let us know in the comments section below.