“The only thing worse than training your employees and having them leave is not training them and having them stay.”
– Henry Ford, Founder of Ford Motor Company
We’ve seen this popular quote by Henry Ford, but have we really zoned in to understand the profound truth in it?
At Exena Learning Hub, we strongly believe in this statement. We believe that education is the best form of investment and feel that dedication to incorporate the culture of lifelong learning into daily lives is what anchors and propels us forward.
In an organisation, the most notable learning happens when managers focus on enhancing employee learning at the workplace. The outcome will result in a competent employee with the right knowledge, skill level, and attitude, which directly results in increased organisational capabilities.
There are many success stories of companies that have invested in continuous training and development.
Training and development success at Amazon.com
As one of the most prominent global e-commerce and supply chain companies, Amazon is governed by four main principles: customer obsession, passion for invention, commitment to operational excellence and long-term thinking.
With an employee base of 245,200 employees worldwide, 95% of the employees receive an intensive, month-long leadership training. Amazon also has a “Virtual Contact Centre” that trains employees on effectively working from home.
Empowering employees to have an “owner” mindset to impact over a million customers positively helps Amazon create an impactful career path.
Further to this, Amazon hopes to invest $700 million to provide training and development to 100,000 employees for higher-skilled jobs by 2025. They aim to ensure their employees are pioneers in their field who can make confident decisions, take accountability for their decisions, and spend their energy on reinventing solutions for the customer.
This article discusses the key benefits of training and development to employees and the organisation.
Benefits of training and development to an organisation and its employees
1. Resilience through turbulent times
It is no secret that training and development brings direct and longterm benefits to an organisation and allow employees to adjust to new work ethics and latest technologies seamlessly. Keeping up with a VUCA (Volatile, Uncertain, Complex and Ambiguous) workplace helps the organisation be resilient during turbulent times.
2. Increased job satisfaction
Well-trained employees have jobs with higher satisfaction and boosted morale. They feel empowered and have a better focus to make continuous progress in their careers.
3. A better organisational reputation
Training is known to result in a substantial reduction in overall employee turnover. Through training, employees are made aware of ethical conduct and follow the policies methodically, making them respectful and empathetic professionals. Thus the reputation of the company and the human resource department invariably increases in the long run.
4. Attracting high calibre talent
One of the fundamental reasons for training and development is to ensure the “triple fit“—namely, task – talent fit, individual – institutional fit and person – position fit.
The right combination of “fit” results in high calibre talent consisting of right psychological mindset, technical skillset and socio-cultural understanding.
5. A “trailblazer” attitude in the workplace
Training and development enable employees to have a competitive edge over their counterparts in other organisations.
It creates an inspiring reputation of a “great place to work phenomena”, appealing to potential employees.
Internally, employees will be motivated to contribute far more than their work description and go above and beyond, being more productive and innovative in the workplace.
Benefits of training and development, particularly from an HR standpoint
It is crucial for HRD managers to source relevant training for the company’s employees – particularly in soft skills, which can be very easily overlooked.
1. Independence of progression at the workplace
From an HR professional’s perspective, training and development allow the employees to streamline their career development among many other things.
Many employees leave organisations as they feel coerced to be something they are not.
This coercion results in demotivation, added stress, workplace burnout and finally turnover, which are detrimental to the company.
It is also a reminder for HRD managers to ensure they are competent and professionally up-to-date in their field of expertise. Remember, soft skills for an HR manager can be a powerful tool!
2. A better understanding and alignment with workplace culture
Training and development allow employees to understand the expectations and the organisation’s culture better—this thorough understanding of the workplace culture gears employees with the right knowledge, skill, and behaviour.
Performance management should be a continuum throughout the employee’s time at the workplace.
By ensuring that the primary deficiency in skill is identified and short term and long-term career development is appropriately planned, it demonstrates care, attention, and effective engagement to the employee.
3. Better gap and demand analysis
The HR department can identify the need gap and bridge with a workable solution to ensure that its strategic goals are met.
It also helps identify industry demands and determine how well employees are aligned to competition and show meaningful results for themselves and their employer.
4. Achieving and organisations KPIs and KBIs linking to profit
Research shows that sadly companies do not always see training and development as an essential component in an organisation. Hence, managers play a pivotal role in ensuring a strong link between training and development and the resulting achievements.
Such practices also help the company evaluate performance and ensure achievement of key performance indicators (KPIs) and key behavioural indicators (KBIs).
The company would also see a significant increase in profit margins and a positive financial impact which is a massive benefit in business sustainability.
In conclusion, we would also like to emphasise the importance of sourcing high-quality, endorsed and trained professionals to conduct training and development for their employees.
HR managers need to delve deeper into understanding the importance of soft skills and values such as empathy and emotional intelligence in an employee. A wholesome and rounded employee will be able to take on any task in the workplace independently.
Leo Buscaglia‘s profound words hold true, “Change is the end result of all true learning.” Join hands with us to collaborate and bring this revolutionary change to your company and your life!