How to Improve Business Value With Employee Training and Learning

A professional team is the foundation of any successful business. Staff training is an integral part of successful optimization in any company. After all, improving business value and implementing innovative approaches will not work if the team does not have the appropriate knowledge to use new opportunities. Of course, you can use the approach of maximum automation, but, one way or another, the main processes and decision-making will depend on people.

Competently Organized Employee Training and Learning

A holistic system of staff training is an integral part of all companies. This is especially true in modern conditions. It became all about the acceleration of scientific and technological progress, globalization processes in the world economy. And that leads to rapid changes and requirements for professional knowledge, skills, and abilities. These notions are manifested in the principle that dictates global thinking and local aiming for nearly all modern entrepreneurs. It is vital to look at the world and the global market as a complex system that includes a variety of elements that interact with one another. At the same time, it’s still impossible to aim globally, so the entrepreneurs must know the component they can aim for most efficiently. The holistic knowledge here plays a supporting (but still vital) role here, directing those who do business onto the right path.

Staff trainging
On-site staff training and learning

According to American experts, in the near future, the average level of education will reach 13.5 years. More than half of the jobs created require secondary special education, and about a third require higher education. And quality education is something that can be manifested in many ways. People with great higher education certainly know how to express their ideas, thoughts, and feelings in their own words. However, they need to know how to avoid plagiarism, mainly because they’ve done tons of written works at their university or college. Using those plagiarism tools and resources offered by, for example, Lets Grade It, will help to boost originality. Companies want to hire those employees who are always confident about what they have to say.

In international corporations, the urgency of this problem is exacerbated by the fact that employees of the company's headquarters must know the economic, legal, sociocultural characteristics of the countries of foreign branches or affiliates. On the other hand, the managers of these units must have the appropriate amount of knowledge about the country in which the parent company is located.

Among the goals for which the company conducts training, we can highlight the main:

  • improving the quality of products or services, for that should be the key to your success;
  • carrying out organizational changes, because adapting to the rapid changes in the modern world is simply vital nowadays;
  • improving the communication system in the organization, because transparency is one of the key components that make your business more valuable;
  • increasing the level of loyalty to the company on all sides, because there are people who bring in the money and people who bring in the effort, and that’s two different categories of different people.

According to PWC, 80% of company executives admit that the need for new skills is their biggest challenge. And one of the key skills of high-class CEOs is the ability to identify and develop the abilities of their teams. The ability to see talent in time and grow from it as a high-class specialist, as a rule, returns a hundredfold. The ability to make decisions, communicate well, find common ground and motivate the team, think strategically, and be able to listen - these are the so-called soft skills. And, by the way, these are the same skills that robots can't replace people with. According to research from the University of Pennsylvania, increasing the cost of corporate staff training by 10% increases productivity by 8.5%.

How to competently organize the learning process?

  1. A survey or the HR audit can help here. Knowing and understanding the needs of your employees will help you understand how to build their training to meet the needs of the company. At the same time, a well-crafted survey can define the general knowledge gap in your company. Everything changes much faster nowadays, so there’ll always be one. Nevertheless, it’s important to detect and define it as well as develop the right approach to teaching.
  2. The next step is to formulate specific learning objectives. For example, if a company regularly suffers losses or sales do not grow, then the ultimate goal of employee training is to increase productivity and reduce costs. When people know why they are doing something, they will understand what and how to do it much faster and much more efficiently. So, never hesitate or be lazy and get your objectives straight and clear.
  3. Think about possible options, as well as training formats. On your own or with the help of hired business trainers, external courses, seminars, etc.; offline, online, or blended learning. In the modern digital age and remote opportunities, nothing is impossible, it’s only important to know where and how to look. At the same time, training should be conveniently combined with the work schedule of employees, the current level of their professional skills and abilities.

Here is one example. At a certain stage in the work of the Ford automobile company, its management came to the conclusion that in order to increase profitability, and eventually the business's value, it is necessary to change the development strategy. The reforms were based on employee training. A training program was created that included a variety of areas: discussing the company's strategy in small groups, mandatory community service, and leadership feedback. As a result, product quality has increased many times, cars began to be produced on time and within budget, and employees became more loyal to the company.

The survey showed that 63% of professionals without work experience and 38% of applicants with work experience of more than 10 years consider it necessary to receive training from the company. Training can be a major motivation to attract and retain the best employees. And one of the main reasons for the high turnover of staff, according to business research, is the lack of opportunities to gain new knowledge.

Every Component Is Important

"Quality is a collective responsibility", W. Edwards Deming said. The company is a system of processes where each component is important in its own way and plays its own unique role. Professional employees quickly and efficiently solve tasks, work more effectively with clients. But even if you hire the most expensive and competent professionals and no longer spend on them, their effectiveness will sooner or later begin to decline, as knowledge quickly becomes obsolete.

BIO: Andrew knows a lot about the intricacies of business and the importance of staff training. For many years, writing and confidently cross-cutting advice from GrabMyEssay, he learned many valuable lessons. Business can not be effective with the constant improvement of not only technology but also staff skills. So how to organize the learning process, and what staff skills to improve the business? We will learn more in this article.

Published by ExitAdviser


Content ID: 8568