Employees are a business’s most valuable asset, and investing in employees is critical for a company’s long-term development and success. Interestingly, most businesses go through extensive procedures to seek and retain skilled and competent employees, but may miss out on an indispensable aspect of employee retention. This aspect is the inclusion of a training and development program

According to LinkedIn’s 2019 Workforce Learning Report, investing in your employees’ professional development is critical for team retention, with 94 percent of employees stating that they would remain with an organization longer if the organization invested in their career development

As per a research study, workgroups that actively participated in training and development programs experienced an increase in sales and a twofold gain in profitability. In other words, committed efforts toward employees’ training and development create employee engagement, which is also crucial for your business’s financial success.

As the business environment grows more competitive, it is critical to continuously improve your team’s performance in a dynamic marketplace. Thus, employee training and development programs are no longer a luxury reserved for the C-suite; they are critical to the success of your organization and its employees.

Keeping these facts and figures in view, we would cover in this blog what an employee development and training program is; the significance of training and development in an organization, and how an employee training and development program benefits both employers and employees.

Understanding what is employee development and training

Employee development and training is the purposeful investment of time, energy, and resources for the growth of both employees and the organization they are employed with. It helps an employee to gain knowledge about a particular topic and become an expert in it. 

A corporate training and development program, thus, eventually helps an organization to increase employees’ productivity & performance in their current job roles.

Employee development vs. employee training: what are the differences?

Although the terms ‘training’ and ‘development’ are sometimes used interchangeably in the corporate world, there are many differences between the two. It is critical to concentrate on each individual through the creation of carefully tailored programs.

Training:

Training is imparting new knowledge to employees to help them perform more effectively. Training programs are often conducted on a short-term basis with a defined end date. The goal of employee training is to allow employees to acquire new skills and information. 

Typically, training programs are contextualized around the employee’s job role. Knowledge transfer happens between the trainer or supervisor and the employee. Training programs are often quite technical and do not need customization for each employee.

An example of an employee training program:

Company-wide training program on how to use the new project management system.

Other training programs usually conducted by organizations include:

Induction Training; Health and Safety Training; Compliance Training, and Technical Training.

Development Program:

A development program refers to the enhancement of existing abilities. An employee development program is a continuous and long-term process that is linked to an employee’s personal growth and advancement. 

The program places a high value on an employee’s overall development as an individual, which is not always related to the technical facets of his job. Each development program is unique in nature, since it has to be customized to the specific requirements of each employee.

Example include:

Organizing a workshop on interpersonal skills

Other development programs usually conducted by organizations include:

Soft Skills Training; One-On-One Mentorship; Inculcating Leadership Skills, and Performance Development.

An employee training program focuses on developing new employee skills, aligned with internal corporate objectives, while an employee development program focuses on existing and broader skills, such as communication, teamwork, leadership, and project planning and management.

Misconceptions about training and development programs – Know the truth!

Some may believe that training and development programs primarily benefit employees, but this is not the case; training and development sessions serve both the business and its workforce.

While it may involve time, money, and resources initially, businesses will enjoy the rewards in the long run. 

There is a widespread misconception that training and development programs are needed only for the new recruits as part of the company’s onboarding process. However, regular learning and development programs conducted regularly will enhance the performance of employees.

Significance and relevance of training and development within an organization

Employee training and development programs must be a constant focus for a business since they allow an organization to:

Address flaws:

Each employee may face challenges in some areas when it comes to performance, which training and development can help to iron out.

Optimize employees’ performance:

Employees’ shortcomings can be remedied and strengthened with regular training and development programs, as they acquire new skills and information.

Ensure employee satisfaction:

Investment in employee development and training leads to more contented employees. However, the program must be relevant to the employees for them to learn and apply the gained knowledge in the workplace.

Boost productivity:

In today’s fast-changing marketplace, a business’s productivity is largely determined by its employees’ skillset, and training and development programs help employees to develop new skills.

Also Read: 8 Tips To Improve Your Productivity In The Workplace

Self-motivate:

Employees who have participated in training and development sessions need less supervision and direction since they have been trained to manage different difficulties in a workplace during their training sessions.

A look at employee training statistics

Industry trends, regulatory requirements, and in-demand skills are always evolving. By ignoring your employees’ training and development aspects, you may compromise the future success of your business.

In 2022, every organization should devote time for assessing its employees’ training requirements; identifying a viable solution, and implementing a comprehensive learning plan.

Employees who participate in on-the-job training, lifelong learning, and other forms of professional development may hone and gain new skill sets that may aid in career advancement.

The following statistics show the critical nature of ongoing training for both employee development and organizational growth.

  • Nearly 59% of employees report receiving no on-the-job training and most of their abilities were self-taught. In such a case, the organization’s growth rate may be considerably affected. This shows the requirements of a regular training program as a part of a growth strategy.
  • 74% of employees are eager to acquire new skills or retrain to maintain their employability.
  • 87 percent of millennials agree that workplace learning and development are vital.
  • 59 percent of millennials say professional development opportunities are critical when considering whether to apply for employment.
  • Only 29% of employees are “very satisfied” with their organization’s present career growth prospects.
  • 41% of employees rated job-specific training as “very important” in an organization, from a job satisfaction perspective.
  • 76 percent of respondents said that an employer’s job prospects would be more attractive if it provided further training intended to boost their future talents.
  • 55% of sales professionals report that training keeps them incredibly motivated.
  • Employees want training to be available at any time and in any location; they want it to be brief and rewarded for participating. Over two-thirds (67%) of employees believe it is critical to get training anytime, anyplace, up from 64 percent in 2016; however, this differs by generation.

How does training prove useful to employers?

Employers get several advantages from creating training programs for their employees, particularly when these programs are carried out diligently and regularly. A regular training program can be beneficial to an organization in a number of ways.

  1. Increased efficiency and productivity

When employees get regular training, their job skills and knowledge are enhanced, and their confidence in their talents grows. This enhances their performance and enables them to function more effectively and productively.

  1. Uniformity

When employees in a workplace get training, it aids in the standardization of work processes. Thus, employees can adapt and apply the same practices at the workplace that they have learned during the training session.

  1. Enhancement of the organizational structure

When a business has a well-organized training system in place, it enables employees to learn systematically and methodically. Additionally, it discourages employees to abstain from learning via trial-and-error methodology.

  1. Increased awareness of policies and objectives

A strong training program will always assist employees in becoming familiar with the values, ethics, policies, visions, and missions of their company.

  1. 5. Increased client satisfaction

When an organization’s employees get regular training, their job abilities enhance and they perform more professionally and effectively. Customers will notice the difference in service quality, which will positively impact their perception of the company.

  1. Up-to-date and improved technologies

With the rapid advancement of technology across all sectors, exposing employees to new practices in advanced technology would help an organization to improve its efficiency and production.

  1. Employee training offers a key competitive edge

Today’s corporate world is constantly changing thanks to technological advancements, industry trends, and innovation. To remain ahead of the competition, you must understand the crucial nature of employee training. 

When you have effective employee development and training measures in place, your employees would be more equipped to adapt to change, providing your organization with a much-needed competitive edge.

  1. Development of future leaders

Acquiring skilled leadership may begin with the new talent acquisition or with the selection of existing employees for a leadership role. By establishing leadership development programs, an organization may not have to look out for candidates outside the organization, as they may train the right talent to assume a leadership role.

  1. Positive employee retention

Employers have continual challenges in recruiting and retaining talent; yet, one method to retain employees is to provide a professional development program. Development programs instill a feeling of worth in employees; encouraging loyalty, and eventually, enhancing employee retention. Owing to all these reasons, investing in your employees’ professional development is essential for employee retention.

How employees may benefit from training and development programs?

Regular training and development programs offer a host of benefits to the employees, which are explained below:

Promotions

There are several benefits of a training and development program in a company. One of the most significant advantages of training employees is that certain employees can be trained to assume higher responsibilities. Fulfilling the responsibilities can lead to the promotion of the candidates. 

This is a cost-effective approach, since recruiting fresh people is costly. Additionally, existing employees are familiar with the organization’s processes and work culture, which makes them a perfect match for higher roles and responsibilities.

Improved employee engagement

Regular development activities may help to keep employees engaged, while frequent training programs can ensure that employees, abilities, and practices are evaluated regularly. Managers may proactively build focused development programs that address any possible skill shortages by assessing a team’s existing skills and capabilities.

Assists employees in embracing increased responsibilities

Training programs may assist individuals who are advancing in their careers and taking on additional responsibilities within a company. They will be able to develop the necessary skills to succeed at their new jobs through these programs. For instance, they may get training in leadership skills or the usage of specialized software in their new post.

How to implement an impactful an employee training and development process?

The following are some useful strategies for implementing the training and development process successfully.

  1. Evaluate

Begin by examining your organization’s and employees’ particular training and development requirements using techniques such as surveys and feedback. This is critical when developing successful training and development programs since it ensures that they are customized for your employees.

  1. Make a plan

After identifying the organization’s training and development requirements, the subsequent step is to build a clear and comprehensive training and development strategy. This enables your company to establish goals and objectives and devise a strategy for achieving them using the programs.

  1. Reliability

To succeed, it is crucial to maintain consistency in conducting regular employee development and training programs. Regular training programs will help employees in growing and reaching their full potential.

  1. Quantify

Organizations should establish, monitor, and measure key performance indicators (KPIs) to determine the effectiveness of their training and development initiatives. 

Also read: How to Build a KPI System for Performance Reviews
  1. Assess completion of training and development program

The training and development program should be evaluated regularly to ensure that it remains aligned with the organization’s goals and objectives. Additionally, you need to keep up with the industry and competitive trends to ensure that your organization’s training and development programs remain relevant and competitive.

Conclusion

Employers profit from investing in successful training and development programs, but so do employees. Businesses benefit from motivated, devoted, and engaged employees, while employees benefit from working for an organization that appreciates them and wants the best for them – it’s a win-win situation.

Engagedly’s all-in-one human resource management software includes several modules, one of which is dedicated to employee training, learning, and development. The solution offers a host of functionalities so that you can plan, schedule, and execute training and development programs as when required.


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