Almost 40% of Indian workers, according to Monster.com, will require retraining and upskilling within the next five years. Although employee training is valued by many businesses, its execution is nevertheless difficult.

This frequently occurs because of the traditional Indian educational models, such as college and university degrees, not catering to their needs or fitting into their way of life. However, many of the training courses provided by these academic institutions are not in line with the goals of the business or the personnel.

Notwithstanding these difficulties, creating an efficient training programme is easier said than done because of the advantages of training staff. Organizations that invest in their employees are likely to see big returns, from raising employee morale to expanding the company’s productivity.

The following are the 12 advantages of staff training programmes:

Lower employee churn

Employee churn may be expensive and quite disruptive. Typically, it costs between 50 and 60 percent of the employee’s pay to locate a direct successor. Yet it depends on how advanced and complicated their position is. This process could take several months. Providing employee training is a simple and efficient strategy to lower attrition. 94% of workers think they would stay at a firm longer if it invested in their growth, according to LinkedIn Learning.

Fewer layoffs

In the modern world, business goals can shift quickly. Sadly, this might result in layoffs if an employee’s skills are no longer in line with the needs of their organisation. Layoffs come with the costs of severance payments and rehiring, which can have a substantial negative influence on the morale of the remaining employees.

There are several ways to stop layoffs. Companies can use current talent rather than having to start from scratch by upskilling and reskilling people for new or expanded roles that fit company needs. Nonetheless, it has been discovered that more Indian enterprises than any other nation keep skill inventories, at roughly 81%.

Boost Staff Engagement

Although it’s important for business outcomes, employee engagement is still a moving target for most organisations. According to The Economic Times, India has the highest rate of employee engagement at 20% of its workforce.

Employee training options present a perfect tool for raising both engagement and profit. According to LinkedIn Learning, employees who believe they have room to learn and grow at their companies are 3.5 times more likely to be involved.

Get a Recruiting Resource

The majority of job searchers are looking for positions where they can advance since they are aware of how quickly the workplace is changing. Employee training options can be a potent recruitment tool. According to Dell Technologies survey, 75% of Indian employees are eager to upskill in order to stay competitive in the workplace. 

Increasing output

Profitability depends on productivity. And one of the easiest ways for businesses to boost their performance is by providing employee training. Time-consuming chores can be greatly reduced by learning how to use new technology or tools, such as artificial intelligence or scheduling apps. Simplified procedures and less time wasted are additional advantages of training staff in soft skills like time management and delegation.

Boost team performance

The majority of employees work in teams, yet these teams are rarely successful. Teams need complementary skill sets to function cohesively and effectively if they are to succeed. Finding skill gaps in teams (such as a lack of writing or technical skills) can affect each member’s productivity. Employee trust can be increased, and the amount of time lost to misunderstandings and conflict can be decreased by team training in communication techniques, conflict resolution, and diversity and equity.

Increase Your Competitive Advantage

Teams are ready to pivot when members are knowledgeable about the most recent developments in business knowledge and technology. Businesses must change to meet evolving client demands and a continuously changing environment. Also, companies that don’t invest in the professional growth of their staff are likely to lag behind their rivals that do. Businesses that can quickly change directions to offer new goods or services when the market calls for them have a significant competitive edge.

Avoid and fill skill gaps!

Companies in India continue to struggle with skills gaps, which have become even worse since COVID-19. According to the India Skills Survey, 77% of businesses have already recognised skills shortfalls or anticipate having them over the next several years. Being able to proactively address those gaps is one of the benefits of employee training, and doing so reduces the risk that the company will either need to sink money into hiring or fall behind. That’s why over half of executives report that they prefer upskilling and reskilling as their approach to addressing skills gaps.

Create a pipeline for talent!

Employee churn is an unavoidable reality. But, when people with crucial talents leave an organisation, it may leave them unprepared. Employers can avoid interruptions by giving their staff members career paths through targeted training. Employers and managers should work together to create these paths, which include distinct benchmarks and goals for skill development and promotion. In addition to its role in succession planning, the career pathing process also increases employee engagement with the company and their roles.

Boost Management

One of the biggest drains on a company’s profits is poor management; according to Gallup, ineffective CEOs cost the world economy more than $7 billion annually. The significance of staff training is only heightened for managers due to their influence on the business. Team performance and employee happiness can be greatly improved by teaching managers how to communicate effectively, grow their staff, think strategically, and respond to difficulties with flexibility.

Lessen Your Dependence on Contractors

When the required talents are not available internally, many organisations turn to contractors to complete projects. Yet, hiring contractors can be more expensive than making use of the in-house talent already on staff. The majority of contractors also lack institutional knowledge. Most organisations have employees with extra bandwidth, so cross training those employees to fill skills gaps can help leaders shift talent to needed areas, maximise individual productivity, and reduce costs.

Boost the sense of security among employees!

In a world that is changing quickly, workers are becoming increasingly—and understandably—concerned about the viability of their talents. In fact, almost half of workers believe that their lack of modern skills will force them to lose their jobs within the next five years. Employer-provided training options can assist these people in developing their current abilities or changing careers entirely, benefiting both the company and the individual employee. And when employees believe they have a future at the organisation, they are much more likely to be happy and plan to stay for the longer term.

The Great Recession, huge global supply chain interruptions, and inflation are just a few of the difficulties that businesses must deal with. Despite the overwhelming number of competing objectives, it is crucial to remember the value of employee training. Organizations that comprehend the value of employee training and create efficient training programmes will be better equipped to handle not only today’s problems but also those that arise in the future.