Why use a professional training company?
There is no doubt that the economy is facing one of its toughest challenges to date, which means that many companies are cutting back on their Learning and Development budgets. However it is during these times that there should be more focus on employee development, because with the right sort of training, return on investment will be lucrative. Put simply, professional training empowers employees and ultimately leads to increased revenue.
The American Management (AMA) survey published in 2011 noted that executives believe that traditional knowledge and skills i.e. reading, writing, and arithmetic are no longer sufficient for workers. The survey results identified that future success is dependent on four key skills: critical thinking and problem-solving; communication skills; collaboration skills; creativity and innovation skills.
Therefore companies need to invest in professional training to ensure that their workforce has these skills.
The benefits of professional training are three fold; it is beneficial to employees, employers, and the company.
Professional training increases employee productivity as training helps employees perform more tasks in less time.
Professional training enhances job satisfaction because training ensures that personnel are confident that they can perform the tasks assigned to them.
Professional training makes the process of internal HR management and recruitmentquicker, because trained employees are more likely to fit the profile of internal job openings.
Professional training reduces overheads because it decreases the need for employee supervision.
Professional training increases customers because satisfied customers are a result ofwell-trained staff. Customers are also more likely to recommend a company if they have a positive encounter, therefore training enhances the chance of this.
Professional training yields professional employees who are more likely to persuadecustomers to accept deals, thus increasing company earnings.
Professional training decreases employee turnover because staff are given the tools to carry out their job well, and are therefore more satisfied and more likely to stay with the company.
One high profile company who understand the organisational need for professional training is Deloitte, who have invested $300 million in a university to deliver leadership development.
Diana O’Brien principal, Deloitte Consulting LLP, and managing principal, Deloitte University says of this investment:
“We recognize that funding talent programs in today’s economy has been challenging for many organizations, but as a professional services firm, we offer our clients one product: the talent and expertise of our people. If we didn’t invest in the development of our professionals, it would be akin to a manufacturer not upgrading equipment, yet still expecting improved productivity.”
Therefore the benefit of professional training investment, far outweighs the cost.