5 Valuable Reasons to Invest More in External Training for Employees
Providing training for employees is more critical than ever with the advancement of technology, size and trends in the market, competitor activity and the presence of high staff retention among firms both large and small.
Current research reveals with the advent of the COVID-19 pandemic, many people are eager to reconsider their current careers with job and roles switch as a imminent move by myriads of employees. Indeed (2021) affirms recruitment experts also project that 24% of employees assert that they plan to move jobs within the next six months. Our field insights generated from responses regarding training reveals that most employers don’t place so much premium on neither external training nor performance until the sales figures have plummeted and all the equity eroded away. More insights from third party employees reveal that myriads of employees avow that targets set are not aligned with effective and impactful training that must sharpen their techniques at sales, marketing and customer service.
This is where performance training with experts and experienced trainers fill in the gap. With this looming threats, if you want to retain top performers, overcome and stay ahead to competition, cut down avoidable job cuts and staff movements, unnecessary costs, then suggestively it is time to call in the expert trainer.
External training is one of the surest ways employers must adopt at increasing demand to attract and retaining their best workers.
Benefits of External Training
Proving existing employees with new, updated and advanced skills and techniques saves recruitment and onboarding expenses whilst setting the team apart with performance and results orientation. It is obvious or expected that there are opportunities with internal training or some sort of coaching provided by managers with respect to roles in business. However costs, planning, development of content, impactful execution, overseeing and post-training assessment of key learnings and insights of content takes course leaders who engaged to perform other management roles away from their duties. Besides they certainly will not have the skill, tools, techniques and the finesse of an external trainer who devotion is to give staff quality training and the acumen to perform on their roles. More so, when you bring in an external trainer, business managers and leaders can focus on their assigned tasks and projects as an opportunity costs knowing that employees are being given valuable training. Leaders of small and large businesses can also count on the fact that external facilitators and training consultants will introduce fresh ideas and insights from other clients and businesses to enrich the conversation during training engagements allowing employees to benefit from a broader pool and range of experiences.
Investing money in quality external training is worth every penny since it will go a long way to increase staff retention, employee satisfaction, create flexibility, and boost motivation and productivity whilst ensuring business growth. With all above adduced validations towards external training engagements, the following benefits are available to businesses for charting this path:
- Build Strong and High Performance Teams
Performance is the burgeoning currency when it comes to training and how else teams can be empowered to do more and give more if not from external sources? Internal training and coaching may suffice but not as effective as external training from experienced trainers whose come aboard with varied and versatile skill-set coupled with insights from varied industries and sectors. This is the missing ingredient that galvanizes teams to deliver their best on assigned roles
- Attract, Recruit and Retain Best Talent
Different generations have different work culture, habits and values when it comes to career aspirations and job responsibilities. Millennials’ handle work different from older generations. With the ongoing change, many of the new crop of employees need reskilling to be able to keep up with the trends and changes presented by technological advancement. Resorting to external trainers and experts help with the bridging of the identified gaps in address the increase demand to attract and retain best workers.
- Good Return on Training Investment
Firms whether large or small will make a good return on their training investment when they engage external training consultants and facilitators. The value at recruiting and onboarding new staff cannot be compared to the cost expended in training an existing staff to perform. As it were, onboarding takes valuable time and resources to execute whilst investing in existing employees is a simple cost-efficient alternative. With external training presence, businesses stand the advantage of boosting their revenue generation and consequently being pointed in the direction of increased staff retention emanating from high-quality staff training as existing employees who would have switched jobs can be encouraged to extend or take up new roles from vacancies within the same company.
- Save Money
Cost-saving is the icing on the cake for most firms when they can stretch their budgets thinner to execute other projects. External training should be given top priority with budget setting and allocation. This is because it grounds the business with a guaranteed success with sales performance at revenue generation from the team. This is very critical for every business since revenue generation is the engine and catalyst of every business enterprise and for managers to trifle with the decision of external training that will sharpen this skill will only spell doom for the business in the long run irrespective of the blueprint of its strategy. Global estimates suggest that onboarding can cost about a third of an employee’s entire salary, aside the fact that it is expensive and time-consuming. Clearly effective external training is essential for businesses to save money and keep workplaces thriving in the future.
- Increased Motivation and Staff Retention
With high-quality training existing employees are challenged to see new perspectives and the demands of the role. From our training execution experience for clients, there is a renewal and boost in employee motivation and morale during external training engagements. With boredom and non-performance myriads of existing employees depending on their generation are forced to either move or switch jobs. With external training, there is the injection of fresh opinions, ideas and insights into the world of work that dramatically seeks to reduce high staff turnover through staff retention.
Business Relevance – the art of creating the experience
There are many businesses around today with different and similar products and services. The business landscape from SMBs to large corporate are all swamped with concepts, events and activities in their bid to satisfy today’s customers as well as to win some unto their platter. This they determinedly persevere in exchange for the most essential commodity for their existence, revenue.
The litmus test moment always shows as in business just as in life. This is the moment of truth where the market and the target customers will demand for business relevance from businesses and service providers. And this is the point where businesses of the future take a look at their products and services with the intention and the singular objective of customer satisfaction in sync with customer vision or expectation. After all, what is the point in having a business account with a bank or savings & loans joint for years which does not have your interest in bailing you out with a overdraft or a small business loan? After all what is point of customer loyalty to businesses when the relationship often seem lopsided and go sideways.
From our field insights and interactions for customers of other businesses, many customers revealed the high brand switch from different brands due to the disinterestedness in their vision and their expectations. Most firms put up suggestion boxes and complaint channels just for PR stunts but not necessarily addressing customer issues unless there is threat of legal suit or bad press. In as much as customer demands and expectations must be handled with a firm resolve and objectivity by the leadership of most businesses, the side can be flipped both ways. For the record, aren’t business in existence to fulfill customer needs?
Serious businesses irrespective of their size and portfolio can leverage this insight to enhance their business with respect to serving the customer, revenue generation and business growth