Whether you’re a business owner or work for a company, attracting top talent can be a real challenge. But once you find the right people, how do you proactively equip them to do their best work? And how do you retain them as time passes? This can be an even greater challenge. The best thing you can do is invest in the development of your team.
Unfortunately, many leaders view training as a waste of time and resources that ultimately detracts from business goals. I believe the opposite is true. When you invest in your team, you invest in your business. Here are 3 ways providing ongoing training for your employees benefits you—and them:
- Training increases morale. The more you equip your employees, the more their confidence will grow. Increased confidence leads to increased morale. Everyone has probably felt like they don’t have what it takes to get the job done, or felt the imposter syndrome creep in with every new challenge. But the more you provide training for your employees, the more those feelings will subside. They’ll feel empowered to execute and advance the company goals—and be happy while doing it.
- Training reduces turnover. Without a clear and compelling company vision, employees will become confused and leave. The same is true with training. Training ensures continued alignment between a company and its employees. Ultimately, it makes employees feel more connected to the company’s vision and where things are going. No one wants to remain stagnant. Growth is part of who we are. If employees don’t feel like there are adequate opportunities to develop their current skills and learn new ones, they’re likely to leave for a place that does offer those opportunities. By training your employees, you’re communicating to them that you’re interested in their development and you’re in it for the long haul.
- Training advances company growth. Continued employee training is necessary to further the company’s goals. As you develop new products, you’ll want to ensure your employees can sell, market, or support those products. Training helps make that happen. It improves your team’s skills and job performance, which directly impacts company performance. And you’ll be able to trace the efficacy of your training to how well your products perform and move you forward.
Training often involves an opportunity cost. There’s a tradeoff between the training itself and the time spent participating instead of focusing on high-leverage work. But it comes down to taking the longer view. The time spent in training now becomes a game-changer later, as your team hones their skills, grows in confidence, and ultimately pushes the company forward. Trust me, the time you invest in your employees will pay back dividends.