A recent SHRM survey found that Only 29% of employees are satisfied with available career advancement opportunities in their organization.
The “Great Resignation” or the unusual rate at which employees seek other job possibilities, has been one of the major topics in 2021. A shortage of available and willing workers has impacted the retail and service industries particularly hard, but other businesses are also battling to retain top talent.
Employers will use new techniques to recruit workers in 2022, as well as increasing employee benefits, wages, and other incentives to keep existing employees happy and motivated. These new techniques are likely to become the new standard even after the Great Resignation fades.
The constant introduction of innovative technology and the changing nature of work need the workforce’s constant learning and growth. Reskilling and upskilling should not be a one-time event; they should be the norm in 2022. That’s why, in this era of perpetual innovation, every organization that wants to grow and stay competitive must cultivate a culture of lifelong learning, with reskilling and upskilling as a major strategic goal.
Learning and development will be leading the charge in 2022. Nearly three-quarters of executives
believe that training is crucial to helping people work effectively in a hybrid world. Here are four reasons why training and development in the workplace is important, and here’s how to make it a key focus of your business strategy in 2022
1. Better employee performance
Employee training programmes help employees in progressing into more advanced jobs at a faster rate. They are able to take on more activities and responsibilities inside the organization, which may reduce the need to hire additional employees to complete those jobs, saving you money.
Employee training programmes will assist them in learning the skills needed to succeed in these higher-level positions. This will also give them the perspective that they are learning skills that will help them build a strong career path ahead of them. As a result, they will be more eager to deliver excellent customer service knowing that it will help them achieve their long-term goals.
2. Wider understanding of the business
Cross-training personnel so they are competent in multiple areas of the business is possible with effective training programmes. This is a must-have quality in the post-COVID frontier! Organizations are not just strengthening the employee’s personal talents and raising employee engagement by teaching a wider range of skills; they are also becoming more efficient as a company. If they have personnel that are trained in a range of areas, they can cover for absences if necessary. Cross-training also promotes teamwork, which improves the mood at the organization.
Training is also important for knowledge transfer since by disseminating information across all
employees, organizations will have assistance in training future recruits because everyone can assist one another. It also ensures the organization won’t be left in the lurch if one of their key employees goes. If the employees can see the wider picture, they’ll naturally feel more accountable and driven to achieve their organization’s overarching goals.
3. Lower staff turnover
LinkedIn’s Workforce Learning Report states that 93% of employees would stay at a company longer if it invested in their careers. Staff turnover is common in organizations, but if it is excessive, one is spending a lot of money by having to hire new people all the time. As a result, investing in training is a significantly more efficient use of your funds. The existing employees will feel more involved with the organization if they provide training to all members of staff, and they will stay longer in the organization.
The employees will feel more appreciated by the organization if they are continuously learning new things, and they will be more inclined to stay loyal. This means their confidence in their position, as well as internal prospects, will grow, and organizations have a greater probability of them not wanting to leave – a significant gain for lowering hiring expenses.
4. Higher employee engagement
The influence of a lack of training and development on a person’s engagement and ambition should not be overlooked. The majority of the employees will enjoy and appreciate the chance to learn; they want to work in an environment that is both fresh and exciting, rather than one that is stagnant and uninteresting. Their motivation levels will plummet if they are performing the same thing day in and day out with no excitement on the horizon.
In essence, an organization that has strong HR practices has a strong HR team that understands the importance of investing self to empower others. Therefore, it is about continually investing in yourself and your team and demonstrating a learning and growth mindset right on one’s home ground!
In other words, a professional path rarely follows a straight line to its end. Along the route, there are twists and turns, as well as pit breaks for learning. At their organizations, talent developers are charting a new route for skill development. Employers who intentionally, clearly, and flexibly enable their employees to learn and improve will definitely have a competitive edge and emerge as leaders in 2022.
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