Employee training comes at a cost. But not investing in training holds a much higher price tag.
Today's top talent already invests in themselves. And if you want to attract and retain them, your organization will have to do the same.
One thing many company leaders don't often understand is the ripple effect employee training creates. It affects every aspect of your business down to your bottom line.
Here's a cold hard fact: Companies that prioritize employee development make a median revenue of $169,100 per employee while companies that don't make less than half at $82,800.
Simply, investing in employee training is good for business. If you're not sold, let me give you four clear-cut reasons:
A trained employee is a productive and engaged employee. Providing training shows you are willing to invest in their professional development, making it easier to retain them.
When you retain employees, productivity skyrockets. Tenured employees understand the company cadence and expectations and, in turn, deliver a higher output.
This is the first pillar that creates the ripple effect mentioned above. Training improves engagement. Engagement improves retention. Retention enhances productivity.
If one of your business objectives is sustained longevity, you will need to create a way to develop young talent.
The best and the brightest have the highest potential. They also have an endless zest to prove themselves. If you can implement employee training that harnesses young employee's excitement and find ways to mentor them along the way, you will create your leaders of tomorrow.
Developing young leaders is all about providing access. First, get to know your young talent and uncover their interests and passions. Then, give them access that will accelerate their learning.
For example, let's say an entry-level employee shows curiosity about high-level business decisions. In this case, you could invite them to sit in on a meeting with executive leadership. This type of real-world access is something young talent craves and can't get in a classroom or online.
Employee training doesn't have to be expensive. Today's best training programs meet workers where they are and create a learning process that doesn't take away precious time from the workday.
At Arist, we built the first text messaging learning platform. You can build courses quickly, launch instantly, and track remote-friendly training in minutes. Or we can build courses for you. Click here to chat with our team.