A well-designed employee education program contributes to motivation and loyalty, but unfortunately, employee continuing education often is an afterthought. Many companies decide not to spend their time and money on employee development; in their shortsightedness, they fail to see the importance of employee education to business success.
The Association for Talent Development, as reported in SHIFT, reports higher income per employee when companies offer continuing education and training programs than those that don’t. They also show that these companies with training programs have significantly higher profit margins.
Employee education is one of the best ways to encourage a positive attitude. A well-thought-out plan can give employees a sense of value and self-worth. People tend to be more confident in their jobs when they have more to offer.
Providing training gives employees the opportunity to acquire a more extensive skill set, which can result in increased productivity. On the other hand, employees who feel unfit and unmotivated tend to procrastinate and become apathetic, resulting in low productivity.
The cost of paying for education for employees may seem high, but there are advantages to empowering employees to further their professional skills and knowledge. In fact, it has become common to feature continued education opportunities as part of a company’s benefits package.
Some businesses believe that offering educational perks encourages employees to leave after acquiring new skills. Statistics, however, tell a different story. Employees who feel empowered and appreciated in their jobs tend to stay, according to CultureIQ. Providing educational benefits for employees increases retention, and most business professionals understand that hiring a new employee costs more than keeping an existing one.
Bridge the Generation Gap with Education
When it comes to generational differences, 87% of millennials list career development as important when weighing whether to remain long term with a company, according to Guthrie-Jensen Consultants. Sixty-eight percent of all employees say professional growth and education potential are vital in a company. For job-seekers, continuing education opportunities can be a deciding factor when evaluating offers.
Employee education options come in a variety of forms — online courses, computer-assisted classes, workshops, seminars, off-site classes, cross-training programs and more. Keeping employees up to date on software, exploring fresh logistical methods, and finding new ways to improve efficiency are all necessary for businesses to stay a step ahead of the competition.