The Hidden Benefits of Investing in Training and Upskilling Your People
May 24, 2022
Hello and welcome to Episode 115 of the People Powered Business Podcast!
Today we’re talking about the hidden benefits of investing in training, developing and upskilling your staff.
For a long time there has been a misconception that learning and skill development is an employees responsibility. But times have changed, and I’m going to challenge you on that. The reality is the skills that got the employee to us, and to where they are now, are likely not the skills that we need in them in the future, so it really is our responsibility to develop their skills and provide the training they will need to be successful in our workplace in the future.
For many businesses, training is seen as a cost, but when done correctly it really is an investment, not only in the individual employee, but in the business. Research shows us that a majority of Australian employees want to learn new skills, are concerned about their lack of skill development at work, and feel that their roles are outgrowing them. Yet studies also show as that as employers we aren’t doing a great job of providing training and development opportunities.
Given how hard it is to acquire new skills into our business with the market the way it is, wouldn’t it make sense to invest in upskilling the great people we have?
Providing training and development opportunities doesn’t just have the obvious benefits that we all understand, there are also a lot of hidden benefits, such as improved morale and motivation, the reciprocity of feeling valued, improved innovation and increase retention rates.
Would you like to connect with other like-minded business owners, leaders and managers experiencing similar situations with their team? Join the discussion inside our free Facebook Group – HR Support for Australian Businesses.