In tough economic times, staff training and development budgets are often the first to be cut. It’s easy to see why this happens – training costs money, and the return on investment might not be immediately obvious. It can be hard to secure buy-in from senior leadership. However, as most HR managers know, investing in the personal and professional development of staff can be key to an organisation’s success. If you’re struggling to build a business case, keep reading for the top five reasons that employee training and development is an investment worth making. Greater productivity: a highly skilled and educated workforce will perform to a higher level and be more productive long-term. This can give your company the competitive edge and have a direct impact on your bottom-line. Morale and motivation: training is key to job satisfaction and employee engagement. Engaged workers are happy and productive; disengaged workers are disruptive and can be a negative influence on other staff. Attract and retain the best people for your business: opportunities for professional development are perceived as a benefit and can help you attract, and keep, good staff. You will increase your talent pool and decrease your staff turnover costs. Nurture tomorrow’s leaders: with the right encouragement and support, your staff of today will become your leaders of tomorrow. Without that forward planning, you will have to look outside to meet your leadership needs. Create a learning culture: by encouraging your staff to continuously learn and develop you can create a culture of learning in your business, and foster collaboration and innovation at all levels.
