Skilled employees are vital for a successful business, but employees rarely enter a job with exactly the skill set needed. On-the-job training is needed to create and maintain a high-performing workforce. You may consider training an expense and burden. Take a moment to consider it a wise investment in your employees’ and your company’s future.
Why Is Training So Important?
In order for employees to perform their jobs well, they must have the tools to succeed. Solid on-the-job training, both at orientation and ongoing, will equip your employees to be productive and successful in their roles.
Training your employees demonstrates that you value them and consider them important parts of your company’s future, which can boost employee morale. Studies have shown that retention rates are higher for employees who have completed thorough training programs, both when hired and later on, than for employees who have not.
Training programs also help keep standards and expectations consistent throughout your company. They play a key role in communicating and teaching new company policies and procedures, new laws to comply with, new organizational goals and direction, and new technologies.
Types of Training
There are multiple types of training; some are universal, while many are tailored to a particular industry or business, so assess the needs of your company and decide which types of training will be most valuable. Common types include: new employee orientation, general job skills, sales training, management or leadership training, communication training, safety training and organizational development training.
Elements of a Training Program
You should begin with an analysis to identify which areas need additional training and development. This includes identifying deficiencies in performance, evaluating the impact of those deficiencies and prioritizing which ones are most important to address. Then, select training programs that are in line with your areas of concern and objectives.
Another critical step is deciding who will teach your training sessions. The instructor will greatly impact the value of the training. You may decide to choose appropriate, knowledgeable members of your organization or to outsource training to a professional.
Your physical training materials (worksheets, charts, etc.) are also a crucial aspect of a good training program. These are what your employees will take away from the class and should provide a good reference guide for the information learned during the course.
Once a program is designed and implemented, it is also important to continuously evaluate its effectiveness and try to tie it to employee performance. Identify ways to improve the program to ensure that you are realizing the full benefits of your investment.
Tax Implications
Training can be costly, but there may be tax advantages associated with training programs. Check with your accountant or a tax professional to determine if training is tax deductible for your specific situation.