The fast would beat the slow in any scenario and it also applies to business. Winning in business is all about shortening the learning curve. That is why many companies spent hugely in Employee training programs. Training employees could be critical to the future success of your organization.
Some critical reasons why you should invest in employee training are as follows:
- Succession planning
Training supports succession planning and makes availability capable employees assume senior roles. Also, it reduces the inherent risk of employees perceived as irreplaceable leaving the organization.
- Multi-skill employee
Employees with diverse skill can perform the tasks more efficiently and also transition to other roles within the organization.
- Reduce Attrition rates
The well-planned training sessions can provide career pathways, so employees won’t seek next level opportunities elsewhere.
- Operational efficiency
Training can help employees to increase their efficiency and productivity in completing their daily work tasks.
Although employee training is essential for any business, Employers must also take into consideration the disadvantages it can have on the company and the existing staff.
Some of the disadvantages are as follows:
- Employee can take the skills acquired in training to competitor thus loss of valuable knowhow.
- Employee can leave the organization after taking the training and thus increasing the turnover cost.
Thus it is very important that an organization makes sure to provide training along with low attrition of the workforce.