Five Reasons Employers Should Invest In Continuing Education
There are many reasons why organizations should consider investing in continuing education for their team.
It is a competitive advantage to have an educated workforce, equipped with the most up-to-date skills. From boosting employee moral, to reducing overheard costs, the benefits are extensive and pay dividends for any business.
Here are five reasons why employers should invest in continuing education for their employees:
1. Boost employee morale
Providing resources, tools and programs for your team signifies that you value their contribution to the company, their expertise, and overall well-being. When employees feel valued, it creates a sense of motivation and joy, resulting in a more engaged, and ultimately successful, workforce. In short, happy employees are more likely to go above and beyond in their work.
2. Improve productivity
A Gartner Research study confirms that for every hour spent on employee training, five hours of productivity are saved annually. The more skilled an employee is, the more tasks they can accomplish accurately and efficiently. Improved productivity ultimately translates to cost-savings for a business, which is one of the most compelling reasons to invest in continuing education for your organization. Your team performs better, and contributes more to the company.
3. Stay in compliance
Compliance is the bedrock of many professional industries including finance, human resources and tech. Investing in continuing education ensures your organization is in compliance with local, state, federal and provincial laws and regulations. This also boosts credibility and trust, leaving a favourable impression with shareholders, stakeholders and the general public.
4. Shape company culture
Company culture is the glue that holds an organization together. Not only is it important for your existing team, but it also helps in attracting new talent. One study found that 86% of employees expect their employer to provide them with up-skill opportunities.
Fostering a culture of continuous learning and professional development is a critical piece in demonstrating to your employees that you support them.
A learning and development culture promotes growth, awareness, and an opportunity to hone in on the strengths of your employees. Providing opportunities for your team members to discover their passions, and align them with their job duties creates a sense of purpose. When every member of your team is aware of their purpose, and committed to it, your organization is in a much better position to succeed.
5. Save money
Increased job proficiency through continuing education saves companies large sums of cash annually. Employees make fewer mistakes that require redone work, and employers can get more work down with the same number of employees. Add to that, the employee retention benefits of a strong corporate culture, that further reduces costs associated with employee turnover, and it’s clear to see why investing in continuing education just makes sense.
Interested in learning more about empowering your employees through continuing education? Consider implementing a continuing education program in your organization today. Contact Asterid Group Inc. to get started.