There is no denying that employees are every organisation’s biggest asset. What is an organisation without people? Therefore, it is paramount that organisations invest in training and developing talent to sustain the business’s growth and success. Most organisation go through a lengthy and expensive process to recruit talent, and after that, they never see the need to invest in their growth and development. Research has shown that organisations with a culture of learning and development are often ahead of their competitors.
HR Exchange Network highlighted some statistics on the importance of training and development to organisations.
Some of them are:
- 68% of employees say training and development is the company’s most important policy.
- 78% of employees do not believe they are reaching their full potential. This provides an opportunity for companies to develop these talents further.
- 76% of employees are looking for career growth opportunities. This is a great avenue for companies to invest in them and contribute to the organisation’s success.
- 24% higher profit margins can be the result of companies who invest in training. Employees are less eager to leave an organisation that invests in their development.
- 40% of employees with inadequate training will leave the company within the first year.
If organisations must stay relevant in a volatile business environment, they must seriously consider the development of their employees. When employees feel valued and developed, they tend to work harder towards the success of the organisation.