Many small business owners are reluctant to invest heavily in staff training, mainly due to budget or time limitations. After all, hiring people with the right skills in the first place means there shouldn't be any need for further training, right?
The reality is that providing ongoing training opportunities is beneficial for just about any organisation, no matter how large it is or how skilled its staff are. As outlined below, the value from such programs extends well beyond simply upskilling your workers.
Boost staff morale
Offering training opportunities is a great way to improve morale and job satisfaction among your staff, which in turn can further motivate them to achieve results.
By providing training funded by the company, you are demonstrating you value your workers, care about their development and want them to grow professionally. Who would say no to an employer who actively wants them to learn new skills?
Retain - and attract - top talent
Training can also work as a great recruitment tool, as it can help attract candidates who value staff development as an employer perk. Many businesses both large and small are actively promoting their training programs to stand out as an employer of choice.
As training engages and motivates your workers, it's also a good way of retaining your best staff - thus saving you thousands in turnover and employee replacement costs.
Get more out of your workers
Workers today have to be more flexible than ever before, wearing a range of hats and performing multiple jobs around the organisation.
Training gives your staff the opportunity to pick up skills in areas that aren't directly related to their role. As such, they can be deployed in a variety of areas around the company, and you can get more return from each employee.
If you'd like to learn how Earlypay's Invoice Finance & Equipment Finance can help you boost your working capital to fund growth or keep on top of day-to-day operations of your business, contact Earlypay's helpful team today on 1300 760 205, visit our sign-up form or contact [email protected].