We live in an ever-changing world and work in a business culture that continues to evolve not only every day, but often, every hour within each day. Has there ever been a time in our history when so many new advancements were being researched, launched, announced, and continually enhanced than they are in the present day?
For enterprises of all sizes and types, this is a very good thing. New technology is facilitating companies’ needs to do business in bigger, better, faster, more efficient, and perhaps most importantly, profitable ways. It’s an exciting time.
But what about employees who work for those companies? Do their skill sets become obsolete?
In some cases, yes. But, as most business leaders will tell you, it’s companies’ responsibility to keep them abreast of new technology and processes so they can continue to do their jobs in a more educated way, providing maximum efficiency and output as they help their employers remain competitive and profitable.
While many companies do realize the importance of employee training, not all do. In fact, according to a survey of millennial employees conducted by Deloitte, only 24 percent of young people in the workforce say they’re satisfied with the professional development opportunities afforded to them.
Robert Morton, who spent more than two decades in leadership positions at major financial firms, believes that continual training is important, not only to keep existing employees’ skills current but to help new staff members as well.
“I am an advocate of training and mentorship programs within an organization,” he says. “Team members should be encouraged to take advantage of the resources that the company offers, including ongoing training, excellent support staff, and a welcoming and open office environment. How an employee blends in with the company culture is not only a good sign of how they will perform, but also how long they will stay.”
Countless companies offer free training to their employees. They realize the value in doing this. It helps staff members stay ahead of the curve and, as Morton notes, it can provide significant value in retaining the best and the brightest.
But what if your company’s budget is lean and mean, and, until recently, implementing employee training programs hasn’t been a top priority if it’s even been one at all?
That’s not a problem. Not anymore. There are many training tools available online, including apps and online courses that may offer your employees the education they need. Many universities are now offering courses; in fact, an increasing number of companies now offer free or discounted educational opportunities to their employees via some of the university websites.
You can also encourage your employees to view TED Talks on YouTube, which are available on a wide and always-growing list of topics. Or bring in guest speakers or lecturers.
“You can also look within your organization to enhance your training program,” writes journalist and digital consultant John Boitnott. “For example, match more experienced team members with newer employees and leverage their experience and knowledge. Cross-training and shadowing also provide ready-made training opportunities as opposed to investing in an expensive formal training program.”
Many executives say that employee training and development is a win-win for both the employee and the company. Because it helps employees stay engaged, and they stick around, it also helps the company develop a bit of a farm team, an internal pool of candidates for later promotion. A new title, new responsibilities and higher pay — what employee doesn’t want that?
“Employees remain engaged while the company saves and earns more money,” writes William Craig, founder and president of internet marketing company WebFX. “Development doesn’t have to be boring — it means growth. As employees become more proficient, your company’s overall performance, innovation, output and sales will increase, and that’s always good for the bottom line.”
