These days, whenever enterprise training is mentioned in an article, it is mostly focussing on extended enterprise training, describing the processes and benefits related to extended enterprise training.
While the importance of extended enterprise training cannot be overstated, the importance of employee training may not be getting the attention it deserves.
In an increasingly competitive business environment, companies aren’t just racing to secure a larger market share, but are constantly competing to hire the best talent for their teams.
Among the many factors on which a potential candidate evaluates a potential employer, learning and development opportunities are becoming increasingly important.
A study revealed that over 63% of American workers quit their jobs because they were not satisfied with the learning and development opportunities presented to them. This reveals a clear gap in the training expectations of employees and the training they are actually receiving.
At the same time, it presents organisations with an opportunity to step up their employee training game to attract better talent.
Moreover, with better training initiatives in place, the organisations undertaking them will also benefit from a better-trained workforce. But what are these better training initiatives?
These are our top picks:
In a business environment where a positive corporate culture is given significant importance, it is crucial that businesses are doing enough to ensure smooth assimilation of new employees in their company culture.
Many onboarding training programs only focus on compliance training and ensuring new employees are able to carry out their day to day activities in an efficient manner. While both these things are truly critical for the smooth functioning of a business machine, neither of them educate a new employee about the culture of the organisation.
Thanks to this gap, about 22% of new hires start looking for a job within 45 days of joining the organisation. A comprehensive onboarding training and process ensures new employees are quickly assimilated to their new work environment and can significantly reduce the employee turnover rate.
Not just that, studies show that companies that take their onboarding process seriously enjoy 54% more productivity from their new employees!
In an organisational sense, change management is simply the framework that allows the organisation to easily cope up with new processes, tools, and developments.
In a business environment that is constantly undergoing evolution, having resources to facilitate change management at an organisational level, as well as at an individual level is extremely important. From convincing conservative stakeholders to let go of their belief of “if it isn’t broke why fix it” to overcoming change resistance among employees, change management sponsors are expected to execute crucial responsibilities with delicate care.
Change management becomes even more challenging for organisations with a large and/or distributed workforce.
The biggest challenge is that in most cases, change management cannot be handed over to a third party and must be facilitated by a familiar face to be successful.
Thus, identifying internal resources that have a knack for this kind of responsibility, and providing them with a comprehensive .
Leadership development, when done right, can return exponential benefits to an organisation. For starters, when your company spends money and expends resources on developing future leaders, it becomes a lucrative attraction for top talent.
Similarly, when your existing employees find out that their employer is investing in their future, they realise that their organisation cares for them. This doesn’t just improve retention rates, it also motivates employees to bring their A-game to work everyday.
Finally, the ROI of leadership development programs can turn out to be surprisingly high. Since developing leaders in-house is cheaper than hiring them. Not to forget, finding leaders within your team also means your organisation will not be spending on the onboarding process of a new resource in a leadership position.
84% of organisations expect a shortfall of leaders starting this year. With a great leadership development program, you can ensure your organisation is a part of the other 16%.
These were the three types of employee training initiatives that we think enterprises should be undertaking right now. Do you have them at your organisation? If not, what are your apprehensions? Share with us in the comment section below.
By Costa Lamprou