Employee retention rates get heavily influenced by learning and development opportunities. According to one survey, 94 percent of employees would stay at a company longer if they invested in their professional growth.
Fremont, CA: Human resources departments often overlook employee learning and development in the face of so many competing priorities. However, because the advantages of employee learning and development are so significant, every company must provide these opportunities. In addition, the complete resource might assist businesses if they are unsure about investing in learning and development programs or want to understand more about their value.
Learning and Development Increases Employee Retention Rates
Employee retention rates get heavily influenced by learning and development opportunities. According to one survey, 94 percent of employees would stay at a company longer if they invested in their professional growth. Furthermore, increasing staff retention rates saves money for firms. It costs five times to hire a new employee as it does to keep an existing one.
Training Your Employees Improves Productivity Rates
Offering staff opportunities for learning and development can directly influence your company's bottom line, as trained individuals are far more productive than those who do not. For example, according to IBM research, trained teams have a 10percent higher productivity rate than untrained ones.In addition, employees get the skills and knowledge they need to use best practices at all times, resulting in an improvement in production.
Learning and development have become Standard Expectations.
According to research, today's workers have grown to assume training and development opportunities as a given. According to the study, learning and development possibilities are essential aspects for millennials when selecting whether or not to accept a new job.In addition, because expectations are that millennials will make up half of the workforce by 2025, firms must provide learning and development opportunities for the new majority.
Reduced Workplace Risk
Users should expect a surge in the number of workplace accidents if personnel does not get adequately trained to handle equipment and conduct themselves. To guarantee that employees understand how to be safe in the workplace, HR departments must develop a straightforward, thorough compliance training program.
Improved Job Satisfaction
Employees who have accessibility to learning and development opportunities report much greater levels of job satisfaction than those who do not. It's because learning and development programs allow employees to get the knowledge and skills they need to succeed in their jobs. It can help to foster a more positive work environment and increase employee satisfaction.
Enhanced Relationships with Customers
Company personnel will be better suited to interact with clients once they have undergone training. When one's employees can effectively answer all customer queries, users may deliver outstanding customer service. In addition, customers will benefit from favorable interactions with their customer service personnel, as learning and development lead to higher job satisfaction.Customers will notice this positive tone since satisfied employees are happier and more engaged.
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