benefits of Training
Benefits of Training
Training can be a source of a competitive advantage for a company. The primary benefit to the company is the result of an accumulation of smaller benefits. Also, the well-trained employee creates an advantage for him or herself.
Skills and Knowledge
Training provides greater skill and knowledge to the employees, which translate into any number of improved job performances. The belief is that providing employees with training will result in increased profits - the improved performance or error reduction of the employees results in cost reduction for the company.
The company is not the only beneficiary of employee training, the employee benefits quite a bit as well. By attending training sessions, employees can deepen their existing skill set, increase their overall skill set and increase their understanding of the organization.
Additionally, the trained employee becomes more marketable in the event that he or she searches for another job - more and better skills will often lead to better or higher paying jobs.
Other benefits that the company and employee enjoy as a result of utilizing a company’s training systems include the following:
• increased job satisfaction and morale among employees
• increased employee motivation
• increased efficiencies in processes, resulting in financial gain
• increased capacity to adopt new technologies and methods
• increased innovation in strategies and products
• reduced employee turnover
• enhanced company image, e.g. conducting ethics training (note that this is not a good reason for ethics training!)
• risk management, e.g. training about sexual harassment, diversity training
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