What Every Employer Should Know About the Positive Effects of Training Your Employees – And the Negative Effects if You Don’t
When you consider that 94% of employees would stay at a company longer if it invested in their career (2018 Workplace Learning Trends [LinkedIn Learning, 2018]), it’s no surprise to consider the benefits of training your employees and investing in their skills.
Check out the stats from “Why More Training?” (FPSA News, September 15, 2020):
- 94% of employees say they would stay at a company longer if it invested in their learning and development, according to LinkedIn Learning;
- 76% of your employees are looking for career growth opportunities and investments in training keeps them motivated and inspired to work harder and be better at their job;
- 40% of employees leave their job within the first year unless they receive training and education from their employer;
- 74% of employees feel they are not reaching their full potential unless they receive training from their employer; and,
- 87% of Millennials state that having access to professional development and education is very important to their decision of whether to stay or seek other employment elsewhere.
Does It Really Help my Bottom Line?
- You betcha! When you take into account the increased productivity, retention and employee satisfaction as well as the reduced turnover and accidents, the savings really add up! “Companies that offer training have a 218% higher income per employee than companies without formalized training; and, they have a 24% higher profit margin” (“Why More Training?” [FPSA News, September 15, 2020]