Whether your business is a volunteer group, retail company, or service business, investing in credentials and diplomas. Certificates and diplomas widen knowledge, provide proof of X skill or Y competency, and demonstrate that a person has met certain criteria or specific standards. By requiring and storing diplomacy and credentials, organizations can improve their knowledge, quality of service, product, and client interactions regardless of industry. They also help evaluate how good a business is, but how can they be provided by your company, and what are the benefits? This is where Learning and Development come into play. Why is it good to focus on learning and development within your company?
It boosts your Company's reputation
Investing in your employee's learning and development can boost your reputation as an employer who cares about their staff. In addition, offering an employee development program as part of the benefits of working for your company can help you attract the best talent. It can also cultivate an environment of continual improvement.
It Increases Employee Loyalty
Say you have an employee who wants to advance in their career, by offering them incentives to do that increase the chances of them staying and being of further help to your company. For example, say that they wanted to work further with money and the financial implications of your business, they could potentially study Financial E-Learning Level 5 Diploma!
By investing in employee training, your employees will feel valued and appreciated. This will make them more loyal to the company, and dedicated employees are more engaged, motivated, and productive within their roles. This, in turn, will lead to a positive work environment, which increases employee motivation and fosters individual growth amongst employees.
Research has shown that employee replacement can, on average, cost a company between 6 and 9 months of that employee's salary, and with the job market and economy, as it is with Covid-19, it is not ideal. On top of reduced output, high employee turnover rates can affect a company's market position and profitability.
Diversifies a Skill Set
The most obvious benefit of helping your employee with certifications, diplomas is the effect that it will have on their abilities and output. The more you train your team, the more successful they will be. Employee development creates a pool of talented and loyal employees who know their skills and want to develop them further. This also helps them respond to changes in the market,t contributing to company success in the long term/
For the training to have the most impact, as well as identifying any skill gaps you have noticed, ask your employees what development opportunities they think they would benefit from which will make them feel heard and seen and show your willingness to cater to their needs and how much you value them.
Promoting from within, rather than outsourcing, prevents stagnation within your company, where people are stuck in the same role for years. By training up your employees for promotion, you'll be rewarding the hard work of people who know your company inside-out with leadership opportunities. Through prioritizing internal promotion, it provides a natural culture of mentoring and leadership. New hires will take time to understand their duties and adjust to the work culture, but hiring from within will save time and show your employees that hard work and dedication are rewarded, and it is rewarding to teach adults! It results in employees wanting to work hard and go the extra mile.
Author - Chris
Author, Editor, Creator of this website.