Being a lifelong learner has several advantages. As the world continues to discover breakthroughs and new knowledge, failing to keep current with modern abilities, even after graduating from college, can leave employees behind. According to a recent survey, 54 percent of employees believe it is critical for them to receive adequate training and learn new skills during their careers, and that it helps them better adapt to changes in the workplace.
The Importance of Employee Education
A new hire will quickly become a disengaged member of your team if you do not have a continuous learning program in place.
They can either remain unengaged and continue to work for you, or they can churn.
Churn is unfavorable because of the related costs, which include the cost of replacement as well as the cost of squandered onboarding time and resources.
Having them stay on board, on the other hand, is perhaps worse. While you save money on turnover in the short run, their continuously poor performance will derail your company’s long-term success. Employee disengagement is estimated to cost the global workforce $7 trillion in lost productivity each year.
So why is continuous employee education important?
94% percent of employees would stay with a company for a longer period of time if it invested in their professional growth.
The half-life of skills is diminishing. Skills used to have a half-life of 10-15 years – today, that number is down to just 5. This means that after five years, the new talent you learned will be half as useful as it was when you learned it. And, given that the typical career length is 60 to 70 years, this presents a challenge.
It’s no surprise that individuals are looking for jobs that offer continuous learning since the rate at which you need to master new skills to be professionally competitive is continuously growing.
To avoid losing new recruits to competition, you must provide a solution to the ever-shrinking skill half-life.
Additionally, 40% of employees with inadequate training will quit the company within the first year.
After hiring and onboarding, you can’t afford to take your foot off the gas. Existing workers must be invested in with the same zeal that you engage in sourcing and onboarding new staff.
And the investment you make in your staff by offering timely, consistent learning opportunities will pay out tenfold in terms of productivity and production.
The more your employees value the information you offer them, and the more consistently you provide this important information, the longer they are likely to stay with you.
Employees who work for firms that invest in learning tools are 83% more likely to be satisfied with their jobs.
Employees that are happy are driven, engaged, linked to the business culture, and feel like they belong to a community. They are thus more loyal and productive as a result.
Employees that are dissatisfied are disengaged, unmotivated, unproductive, and inclined to turnover.
Prepare Employees for Senior Positions
Employees who benefit from continued education may begin to consider taking on a more senior role in your business as you encourage them to create attainable learning objectives and discuss them with the team. The benefit of continuous learning is that it helps your staff to continually develop their knowledge and skillset, preparing them for a senior position in your business.
Even if they don’t want to change jobs, as long as your workers contribute to the success of your business, there will be additional possibilities for them to step up and use what they’ve learned.
Enhances Performance and Productivity
Acquiring fresh knowledge and skills benefits the individual as well as the organization by increasing labor productivity. When an employee does not understand how to execute a certain activity or utilize specific equipment, it can lead to dissatisfaction and poor work performance. Employees who know how to execute their job well, on the other hand, frequently report higher job satisfaction, which increases employee happiness and productivity.
Many well-known companies have become outdated as a result of a failure to innovate (Blockbuster springs to mind). If you don’t want your company to fall victim to this fate, emphasize continual learning. Acquiring new skills and information in the job may help widen perspectives and stimulate new ideas. Even a culture of continual learning may stimulate innovation, which can lead to new products, larger markets, and more profitability.
Greater Customer Loyalty
Forget about social media influencers; your best brand advocates are your well-trained and motivated staff. According to Gallup research, clients create strong judgments about your organization based on their encounters with your staff. What is one technique to increase employee engagement at work? That’s right: cultivate their skills. Employees may gain confidence by investing in training, which leads to higher performance and increased customer loyalty.
Attract Better Talent
If you’re using workforce development software to analyze your existing talent pool, you’re undoubtedly aware that innovation and continual learning are critical to recruiting and retaining top personnel. Young people, particularly Generation Z, want meaning in their job and seek a firm that supports their professional development. Show that your firm is ready to invest in their talents and interests, and you will be in a better position to win the continuing talent battle
How Noon Dalton Supports Continuous Employee Education
This is why Noon Dalton is committed to employee education, training, and development. We provide ongoing growth in all areas at Noon Dalton University, from work-related learning to self-improvement and fitness objectives. Continuous development forms are even included in each team’s key performance indicators (KPIs).
Employees at Noon Dalton University receive a tailored, comprehensive learning plan. This plan helps them not just in their employment, but also in their futures.
Employee upskilling and reskilling make employees feel more comfortable in their roles and their future in the firm, allowing businesses to adapt and prosper despite continuing economic changes. And with times being what they currently are, now is the time to be investing in our employees’ futures, not just to assure their job security, but also to ensure that the company stays fully functioning and successful.
Noon Dalton is your dedicated resource to provide remote teams. Contact us today for more information.
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