Business is falling behind on workplace training, according to research by Alexander Mann Solutions. The company commissioned the research after a KPMG Global Outlook survey showed that a whopping 42% of CEOs had no plans to invest in training not only over the next year but over the next three.
Workplace training is vital to not only ensuring that employees are capable of reaching their potential within the business, but also in ensuring employee happiness and motivation. Employees that feel valued by employers are more productive and less likely to leave. Increasing evidence suggests that employees will even sacrifice pay rises to feel that the company they work for develops them as individuals and within the company.
Falling behind other companies is a common symptom of lack of investment in training, especially as technological innovation rapidly changes many aspects of the workplace. Upskilling employees to be at the forefront of new innovations can dramatically reduce costs and increase effectiveness, allowing businesses with highly trained employees to outmanoeuvre larger companies and gain market share.
Training can take many forms, and businesses may have suffered training fatigue from training conferences and programmes designed to attract custom without providing real value. Encouraging employees to select their own training direction and have the freedom to choose how to learn can be a great way of increasing motivation within your workforcce.