101: Development savings
A well-trained employee is more than one who knows their stuff and needs minimal supervision. They are also employees who feel valued, primed for promotion, and professionally engaged, which can only improve client relations and team morale. But there are benefits beyond this, too, in terms of hard savings. When adding professional development expenses into your next company budget (as you should), remember they pay off in terms of what you won’t have to spend, and these are only three of the ways that happens.
Waste is minimized. The result of well-executed training, points out the editorial team at Indeed.com, is employees learn to make wise choices and economical use of company materials, tools, and equipment. This helps reduce the number of accidents, equipment damage and wasted materials, saving on costs.
You can sidestep a recruitment process (and get better results). With candidates already on standby, they are familiar with your company’s culture, aware of corporate goals, and you can save not only the cost but time spent on recruiting someone for a role (if it’s a specialized role, add even more time to that). Wouldn’t that be nice? “The only thing existing employees need is a little push,” to apply for internal positions, according to the digital innovation business network site IntelligentHQ.com.
You have industry trend experts on staff right now to guide new training. Who better than employees that work in that arena to guide company knowledge on what’s important to know in terms of tech trends? “Let your employees take charge by asking them what and how they would like to learn,” said Edward Fleischman of Forbes. “As long as they understand the budget you’ve set and can explain how their plan can benefit the organization in the long run, they’ll be able to find something that works for both parties.”
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