Workplace training is a structured learning program that provides employees with the knowledge, behaviours and experience needed to successfully perform their job roles.
Development opportunities are what those in the know call a win-win situation – they benefit both organisations and employees.
- They benefit organisations by producing and maintaining a highly skilled workforce (now and into the future) and acting as a value proposition to both current and potential employees.
- They benefit employees by expressing to them that they are valued, and the organisation supports them. Lack of development options tells people they are not valued or supported – even if that’s not what is intended.
You can see an entire organisational talent pipeline and individual career trajectory through the benefits of workplace training.
- Improved productivity: Applying learned knowledge at the moment of need means your employees can more easily strategise, better understand their jobs and act as more effective team members.
- Increased employee engagement: Offering role enrichment, multi-directional careers and equal development opportunities helps build mental and emotional links within your organisation.
- The development of a better company culture: 40% of employees who receive no or poor vocational education will leave a job within the year. When you encourage your employees to be lifelong students, you improve team morale and onboarding practices.
- Better retention rates: One empty role in Australia can cost up to $40,000 to fill. That’s a lot of money if that individual is then poached to another company because they didn’t find what they were looking for. Upskilling and reskilling helps you strengthen and retain top talent, giving you better internal mobility.
- A boost to your bottom line: Revenue is directly related to employee engagement, because the more engaged your employees are, the more productive and innovative they are. Retaining top talent and creating better internal culture and processes directly leads to a better return on investment.
If you aren’t sure where to start with implementing an L&D initiative, there are at least six different types of vocational education you can implement today.
- Onboarding: Onboarding sets up new hires with the information they need to be effective members of your organisation, while also setting the tone for company culture. It goes wrong when it’s neglected past the first week. Onboarding is an ongoing process.
- Compliance: At its heart, compliance is about minimising risk, providing a safe work environment for employees and maintaining your business reputation. It’ll help reduce legal problems and ensure your employees stay up to date.
- Leadership: Having pre-determined pathways for succession planning will help you fast-track an internal talent pipeline and allows employees to see a path for progression.
- Technical Skills: Technical training teaches employees the expertise needed to design, maintain and/or operate certain technologies or applications. Technology moves fast, which means your employees need to keep up to date.
- Soft Skills: Skills like interpersonal relationships and communications are crucial to driving your culture and long-term success because they come down to emotional intelligence, not technical knowledge.
- Product: When talking with customers, it’s important for any employees to have sound product knowledge in order to answer difficult questions, tailor products to a customer and build trust.
For a more in-depth look at knowledge in the workplace, have a read of the full article.
