The world is rapidly changing. Technology is constantly advancing. Therefore, the nature of work is continuously shifting. Skills that matter today won't be valuable tomorrow. The only way for an organization to survive is to hire new talent or train the existing staff. However, the companies are reluctant to train their people.
According to qtrainers.com, 40% of companies say that training takes time. In this time, they could do more work. Therefore, stopping work for exercise is a risk that few companies are willing to take.
Either company hires a trainer or gets its employees into a training program. Both options are going to cost money. However, companies could spend this money on marketing campaigns with a higher ROI. Therefore, companies are willing to leave skill gaps as it is. It is challenging to quantify training results. Further, the benefits are not immediately recognizable. It means a company must compare the long-term benefits of training to other short-term gains, which is challenging.
Employers can choose to say that they don't need more training. They may say that they know whatever the company will teach them. Such a know-it-all attitude will discourage leaders from taking the initiative to train them.
This is untrue. Big companies became big because they didn't fail to train their employees. However, small companies feel that only larger organizations can successfully train their employees and reap benefits.
Companies don't want their employees to leave after training. Most organizations fear that other companies will offer more excellent benefits to the employees after training. In such cases, employees will go for better-paid jobs. It will be a big blow to the company's resources. However, the majority of employees will stay. And the benefits will outweigh the loss incurred by an employee's resignation.
Most small organizations feel that outsourcing is more beneficial than training. Outsourcing specific services will undoubtedly have more reliability and fewer risk factor. But, in the longer run, training your internal employees would be more profitable.
However, whatever may be the reason for the reluctance, training is essential for the future survival of an organization. It is the primary factor that develops an organization. It helps gain companies skills that they currently lack. If an organization does not have a training program, interested employees will use other sources to learn. This situation will harm the company.
Training can make a company generate more profit. Many companies in USA and France that generated low profits have made them profitable through employee training. It is essential for having a competitive edge in international markets. A trained workforce can efficiently improve the productivity and profitability of a company.
Competition in the industry is growing. You can attract new talents by offering them learning opportunities. Employees attracted to training opportunities have a learning mindset that will be valuable for the companies. They will give you an advantage over other companies.
Investing in training your employees will make them feel more valuable. You are respecting their work and appreciating their worth. Further, they may refer their skilled friends to the company. Moreover, loyal employees engage in their work more and have higher motivation.
According to research by SHRM, it could cost six to nine months' worth of employee salary to replace them. The high turnover also affects the position in the market and profitability. Training your employeeswill make them feel respected and discourage them from leaving the company.
Continuously training your employees will create a growth mindset. This mindset will help survive the changing market and ensure success in the long run.
In conclusion, in the changing market, the survival of an organization depends on how well it can adapt to the change. For this, the company must train its employees to utilize the technologies. However, companies are reluctant to train their employees.
They fear that training will not be worthwhile. If the employees leave after training, all the time and money spent to train them would be wasted. In addition, the companies feel outsourcing is a better option. And that they can better utilize the money required for training in marketing campaigns. They also think that only more prominent companies can successfully train their employees.
However, these reasons are mainly due to the short-sightedness of the company. A training program is always advantageous. It develops the existing workforce and attracts workers that have a growth mindset. Therefore, giving a competitive advantage over other companies. Training also makes your employees more loyal.
Consequently, making them more motivated and encouraging them to stay. As a result, employee turnover decreases, providing financial gain to the company. Finally, the right training program develops a workforce with flexible minds that can quickly adapt to changes.
A learning management service would be highly beneficial for such world-class training programs. Gyrus provides such a Learning Management solution. They aim to deliver excellent and innovative learning tools for global organizations. Gyrus always strives to exceed your expectations. They yearn to develop products that are leading in the current industry. They are an expert in Government, Manufacturing, and Healthcare industries. Gyrus has a customer-centric approach. Moreover, they work with integrity, commitment, courtesy, and respect. Additionally, they focus on quality by using a positive team approach.