While often overlooked, employee training is valuable and directly affects every company’s bottom line. Companies enjoy a $4.70 increase in revenue per employee for every dollar spent on employee training. Adopting effective employee training programs also lessens the time taken by new hires to meet their performance expectations.
Essentially, the cost of not training employees can’t be quantified. For instance, a recent onboarding survey found that new hires are twice as likely to continue looking for a new job if they didn’t like the onboarding experience. That said, business leaders should consider the following employee training best practices:
1. Align employee training to your business goals
A recent Deloitte study found that 38% of the participants, primarily made of talent professionals, agree that their company’s workforce doesn’t align with business goals and purpose. One common reason behind this occurrence is the failure of business leaders to ensure that their employees have the right skills, knowledge, abilities, and other key characteristics (KSAOs) required to achieve the company’s goals.
Employee training is a huge business investment. Employers should invest intentionally in employee training programs aligning with the business’s strategic goals, mission, and vision. To achieve this alignment, you should:
- Identify gaps in the current employee training program, and evaluate if your previous trainees are meeting business goals. If not, chances are your program doesn’t impart the right KSAOs.
- Adjust your employee training programs to meet the identified gaps.
2. Use a learning management system to improve engagement
Employers should also embrace the use of learning management systems when rolling out employee training programs. An LMS is a platform from which the training can be administered and monitored. However, for assured effectiveness, the platform shouldn’t be used as a static library that employees visit.
The truth is that employee training programs require close oversight. Except for very few motivated employees, most won’t concentrate on the learning program. However, with an LMS, employers can monitor every employee’s progress and offer assistance. It is also a great solution for businesses with remote teams.
3. Choose current and relevant programs
Most businesses don’t succeed because of their choice of employee training programs. There are new skills, business practices, compliance laws, and other things that can improve employee productivity. Instead of rolling out the same program for your new hires, find a program with the latest trends. This ensures that your employees stay on course and gives your business a competitive edge.
4. Measure success
Rolling out a training program without measuring success is worthless. You should have a tracking system that monitors how the training program improves employee performance. You should constantly track key performance indicators to evaluate the effects of training on employee productivity.
Implementing an employee training program effectively increases employee productivity, engagement, and team spirit. However, designing an effective training program requires that you adhere to the above best practices. You should also use digital tools and positive reinforcement, and ensure the program caters to different employee learning styles.