Many business owners tend to keep training to a minimum, as it can present an extra business cost that they’re not prepared to pay. However, there are many benefits to investing in staff training, least of all the fact that providing your employees with regular training and development opportunities could actually result in your business saving money. This could be for a number of reasons – when staff are fully trained and given regular, ongoing opportunities to advance their knowledge and skills even more, your business will begin to see a number of great benefits.
Less Room for Error
A main reason why businesses lose money is due to employee error. When employees are not adequately trained or have simply received a very basic level of training, there is much more room for them to get things wrong and make mistakes. These mistakes can sometimes be very costly to your business, depending on the size and nature of the task. Even small mistakes can add up in the long run, even if they don’t seem like a big deal financially when looked at individually. Giving your employees the opportunity to gain qualifications such as six sigma certification (6 Sigma), for example, also puts them in a much better position to spot mistakes made by themselves and others, and avoid them.
When you invest in regular and ongoing training for your employees, you will have a workforce which is made up of individuals who are completely satisfied and happy with their jobs. Training gives employees the opportunity to move ahead in their own careers and better themselves, providing them with the means to earn higher salaries and get promoted, for example. This leads to employees who are much more satisfied at work, due to the fact that they are being given the opportunity to complete ongoing training which will benefit them as an individual. As a result, your employees will be more loyal and motivated – not only saving your business money by sticking around, but also by actively doing whatever possible to help it succeed.
You may not have realised this, but training your employees can directly affect your customers and their views and opinions of your business. When employees are untrained, they’re not only unsatisfied and often unhappy with their role, they also are more likely to make mistakes – both big and small. This is something that in many cases, customers can pick up on quite easily and notice. When employees aren’t performing to their best potential and mistakes are being made that customers are aware of, in the worst case scenario a business can actually lose custom as a result. However, employees who are given regular training and as a result are completely satisfied and rarely made mistakes will lead for perfectly satisfied customers who don’t plan to go anywhere.