In today’s tough labor market, it is important for businesses to retain employees and mitigate the stress and cost that comes from the long recruiting process.
Research shows that 40 percent of employees who don’t receive necessary training will leave their positions within the first year and 87 percent of millennials cited access to professional development as being a very important factor to their decision to stay or go. With those statistics, it is clear to see why an employee training program is imperative to running a successful business.
In 2018, $87.6 billion was spent on training expenditures for the U.S. – based corporations. With employee training being a lucrative business, there are plenty of affordable programs that allow for flexibility within your company’s specific roles.
Here at PrimePay, we take our employee training very seriously. So much so that we tapped into the mindset of two of the people who have shaped our program into the award-winning level that it is today. In this article, we will explain what you can expect out of developing an employee training and development program. You’ll hear from our COO, Karen Cimorelli-Moor and our Director of Training and Development, Shaun Lowy.
The most important aspect to an employee development program? Relevance.
Forty-five percent of workers believe that company-provided development programs are not applicable to their day-to-day needs. It’s no secret that if an employee does not see a training course as relevant and practical to their day-to-day functions, they will become frustrated and view it as a waste of time.
So, how can a company make sure that each employee training and development program is engaging and providing applicable information?
Lowy explains, “Employee development programs should be reversed-engineered with exceptional job performance as the goal. When subject matter in a curriculum is aligned with day-to-day tasks, the training program can naturally engage participants with hands-on learning. Hands-on learning leads to greater retention of how to properly complete job functions and causes participants to want to understand the why behind the how.”
What’s the biggest challenge when creating an employee training and development program?
“Layering the learning to build toward the goal”, Lowy explains. “Training programs can quickly become compartmentalized, making participants feel as if they are jumping from one session to the next. The hardest step in creating a world-class training program is building the program in a way that connects each session to both previous, and future sessions”.
To help your company streamline your training programs, microlearning may be the answer. In this blog post, we discuss how microlearning breaks down specific, targeted content into short learning activities. This content can be consumed at once and the knowledge can be used by your employees immediately. To ensure employee training problems are successful, employers need to be sure that they are seeing a return on their investment.
How often should employee training programs be updated?
Like people, companies often don’t get a second chance at a first impression. It is important that your employee training program is always updated to provide pertinent information for your employees.
However, Lowy stresses: “It depends upon the content but primarily, only when a considerable return on investment can be obtained. For instance, revamping process-oriented training (sales style, service skills, etc.) could result in mixed messaging and confused participants with unclear expectations on how to their job. Consistency in messaging leads to consistency in performance. Knee-jerk reactions to revamp content to keep things fresh typically have a negative impact on performance.”
How can employee development programs help with retention?
Now that your training programs are set, how do you strive for high workplace satisfaction and the professional outlook for your employees? For this loaded question, we turn to Cimorelli-Moor for her take.
Cimorelli-Moor states, “When you really break it down, an individual’s role in any organization is often much more than executing any one function. People bring energy, ideas, and attitudes in the door every day that affects everyone around them, sometimes to their benefit and sometimes not. Because of this, I think it’s important for everyone to realize their role as a contributor to their work environment and do their part.
Plugin, engage and control the buzz you create. So much of enjoying a job is a mindset, which is often driven by the team we’re on and the atmosphere that forms when everyone is together. Doing your part to positively impact that will not only make you feel great but also those around you. And staying tied to the organization’s common goals to ‘keep your eyes on the prize’ can keep you focused and working with purpose – an absolute necessity for anyone to be able to have real job satisfaction.”
Keep in mind that your people are your most valuable asset. When you set them up to succeed, your business will benefit. Employee training and development for your small business is a crucial component to employee happiness and shouldn’t be overlooked.