The Real Value of an Employee Development and Training Strategy

Posted by Mark Jackson on Fri, Apr, 28, 2017 @ 12:04 PM

 peopledevelopment.jpeg

The Real Value of an Employee Development and Training Strategy

Many organizations that we speak with tell us that while they understand the value of employee training and development, they aren’t certain they need a formal learning management program to deliver, track and manage that training. Many of these organizations track the training they do provide in spreadsheets or even with paper files. While we can agree that any approach is better than no approach, learning management programs are ideal candidates for automation. There are big benefits to be realized from standardizing processes and automating the workflow surrounding employee training, and here we take a look at just a few of those benefits. 

Aids retention

Studies tell us that 40 percent of employees who receive poor job training leave their positions within the first year, citing the lack of skills training and development as the principal reason for moving on. Employee development and training programs help employees feel invested in their jobs and in their organizations. A well-established program ensures that employees continue to feel motivated to advance their own careers within the company, as well as to advance the company’s mission, rather than turning elsewhere for new opportunities. 

Attracts job seekers

An organization that has a standardized employee development plan reassures job seekers that the company is invested in their long-term success and advancement within the organization. Applicants are less likely to invest themselves in a company that doesn’t show the same commitment in return. A recent Bersin study noted, “Companies with career management programs are better able to attract and retain top talent, leading to higher employee engagement and, in turn, a positive impact on the bottom line.” 

Automates manual processes

If your training requirements are modest, it may be tempting to continue to use the collection of spreadsheets to track course offerings, registrations and certification renewals, but by deploying a smart learning management solution, you can dramatically reduce the overhead involved, saving money and driving efficiency. From automatic reminders to employees and their supervisors, to enrollment tracking and training reimbursement request handling, through an automated approval workflow, a dedicated learning management solution can generate a rapid and significant return on investment.   

Promotes consistency

With formalized training, you can be certain that vital functions and tasks are taught in a consistent, precise manner, ensuring that all employees receive the same information. You can of course develop your own training in house, but most organizations rely at least in part, on professionally-produced training courses. Depending upon the specific training provided, the value of such consistency may vary from improved productivity to reduced liability for the company. 

Streamlines compliance

From sexual harassment awareness training, OSHA-mandated safety training, through business ethics – it’s not just that proper training is the right thing to do, training protects your company from potentially devastating law suits and fines. A learning management solution helps ensure employees (and you as the employer) are in compliance with job requirements and the law. The software can track certification expirations, courses due, and notifications and accreditation requirements, helping maintain strict compliance and protecting both you and your employees. 

It makes financial sense

Increased revenue is a common goal across many organizations, and investing in employee training to support that goal makes financial sense. For example: 

  • The Cheesecake Factory invests an average of $2000 annually per employee on training. The chain enjoys sales of $1000 per square foot, almost double the restaurant industry average. 
  • Payroll provider ADP coaches some sales associates on managing virtual teams and time management. Those that participate had an average of seven percent growth in sales. 
  • Motorola has found that every dollar invested on training can yield as much as a 30 percent gain in productivity within three years, which has helped them cut costs by $3 billion and increase profits by 47 percent. 

For more in-depth tips on taking employee learning and development to the next level, check out our Best Practices Guide – 3 Steps to Achieve Talent Development that Drives Organizational Success

 

Tags: LMS, learning management system, Employee Training, employee development, learning management solution, talent development

How Talent Development Stands Apart From Other Retention Strategies

Posted by Sean Pomeroy on Tue, Oct, 04, 2016 @ 09:10 AM

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More than two-thirds of HR professionals are struggling to recruit candidates for full-time positions, SHRM’s 2016 report “The New Talent Landscape” found. One clear takeaway: retaining employees is critical for meeting your talent needs.  

There are many employee retention strategies out there, but most come with significant drawbacks for employers and provide little or no extra rewards. Take increasing salaries. To impact retention rates at a significant level, you’d need to push up salaries significantly too. This would come at a tremendous financial cost, and the higher salaries wouldn’t do anything to help your employees do their jobs better.

employee-engagement-1.gif

Source: Randstad 2015 Employer Branding Survey

Talent development, however, is an exception. While there are associated costs such as training materials and staff, in addition to to providing a big retention boost (a lack of career opportunities is the No. 1 reason employees say they leave an organization), it gives employers several other rewards. A few include:

  • Improved employee productivity—employees learn skills that help them with their jobs.
  • Improved employee engagement—employees are less likely to feel they are in a rut, or in a dead-end job.
  • Improved succession planning—employees are trained in skills that prepare them to succeed at managerial and executive roles (3.6 million baby boomers are expected to retire this year alone.) 

It’s no wonder that many companies make talent development a high priority: it makes sense for them and their employees crave it. According to the SHRM survey, 69% of HR professionals said that their organizations had training budgets last year, and 89% reported that their training budgets stayed the same (50%) or increased (39%). 

All this said, like most valuable strategies, talent development isn’t easy. Training is a long, complicated process that can be difficult for HR to manage, and it requires significant organizational commitment. 

But many employers make talent development much more difficult than it needs to be. To learn a common-sense method that will help you succeed at talent development—benefiting your organization and your employees—read our new article, “3 Steps To Achieve Talent Development That Drives Organizational Success.”

 

Tags: learning management system, Employee Training, employee development, career management, talent development, retention

Taking Employee Training to the Next Level

Posted by Sean Pomeroy on Thu, Sep, 08, 2016 @ 07:09 AM

businesswoman.jpg 

The Real Value of an Employee Development and Training Solution

Many organizations that we speak with tell us that while they understand the value of employee training and development, they aren’t certain they need a formal learning management program to deliver, track and manage that training. Many of these organizations track the training they do provide in spreadsheets or even with paper files. While we can agree that any approach is better than no approach, learning management programs are ideal candidates for automation. There are big benefits to be realized from standardizing processes and automating the workflow surrounding employee training, and here we take a look at just a few of those benefits. 

Aids retention

Studies tell us that 40 percent of employees who receive poor job training leave their positions within the first year, citing the lack of skills training and development as the principal reason for moving on. Employee development and training programs help employees feel invested in their jobs and in their organizations. A well-established program ensures that employees continue to feel motivated to advance their own careers within the company, as well as to advance the company’s mission, rather than turning elsewhere for new opportunities. 

Attracts job seekers

An organization that has a standardized employee development plan reassures job seekers that the company is invested in their long-term success and advancement within the organization. Applicants are less likely to invest themselves in a company that doesn’t show the same commitment in return. A recent Bersin study noted, “Companies with career management programs are better able to attract and retain top talent, leading to higher employee engagement and, in turn, a positive impact on the bottom line.” 

Automates manual processes

If your training requirements are modest, it may be tempting to continue to use the collection of spreadsheets to track course offerings, registrations and certification renewals, but by deploying a smart learning management solution, you can dramatically reduce the overhead involved, saving money and driving efficiency. From automatic reminders to employees and their supervisors, to enrollment tracking and training reimbursement request handling, through an automated approval workflow, a dedicated learning management solution can generate a rapid and significant return on investment.   

Promotes consistency

With formalized training, you can be certain that vital functions and tasks are taught in a consistent, precise manner, ensuring that all employees receive the same information. You can of course develop your own training in house, but most organizations rely at least in part, on professionally-produced training courses. Depending upon the specific training provided, the value of such consistency may vary from improved productivity to reduced liability for the company. 

Streamlines compliance

From sexual harassment awareness training, OSHA-mandated safety training, through business ethics – it’s not just that proper training is the right thing to do, training protects your company from potentially devastating law suits and fines. A learning management solution helps ensure employees (and you as the employer) are in compliance with job requirements and the law. The software can track certification expirations, courses due, and notifications and accreditation requirements, helping maintain strict compliance and protecting both you and your employees. 

It makes financial sense

Increased revenue is a common goal across many organizations, and investing in employee training to support that goal makes financial sense. For example: 

  • The Cheesecake Factory invests an average of $2000 annually per employee on training. The chain enjoys sales of $1000 per square foot, almost double the restaurant industry average. 
  • Payroll provider ADP coaches some sales associates on managing virtual teams and time management. Those that participate had an average of seven percent growth in sales. 
  • Motorola has found that every dollar invested on training can yield as much as a 30 percent gain in productivity within three years, which has helped them cut costs by $3 billion and increase profits by 47 percent. 

For more in-depth tips on taking employee learning and development to the next level, check out our Best Practices Guide – 3 Steps to Achieve Talent Development that Drives Organizational Success

 

Tags: LMS, learning management system, Employee Training, employee development, learning management solution, career management, talent development

4 Reasons Employee Development is the Golden Egg of Every Successful Company

Posted by Mark Jackson on Thu, Feb, 18, 2016 @ 09:02 AM

employee-development.jpg

According to Training Mag, the average amount a midsize company dedicated to the training budget was $1.5 million.

Companies of every size are shelling out the big bucks to train their new employees. Why? Because new employees are an investment and the future and they need to be molded into the common practices and company culture of the workforce in which they are placed. Communication is key in order to keep those new nuggets of talent and in case you hadn’t heard the cost of replacing an employee is through the roof these days. It costs 50-60% of an employee’s annual salary. 

So why should you revamp your employee development program?

 

1. Engaging with your employees leads to SUCCESS

This one’s a no-brainer, but is often seriously overlooked. Engage with your employees, especially your new ones. The more your employees participate in company culture and are associated with the company’s goals and interests the more they can support all those pieces.

 

“Employee development is a way that you can keep your employees engaged at work to prevent that kind of boredom from setting in. Interesting training programs, and future development events that are fun or challenging to look forward to — this removes the plodding daily feel to a job that leads to that dreaded boredom.”

-Chad Halvorson, When I Work

 

Unsurprisingly, 70% of employees who don’t have confidence in the abilities of senior leadership are not fully engaged. Engagement is easy when tackled from a conscious standpoint.

Tweet This: See what happens when employees don't believe in the abilities of senior leadership:

 

2. The fiscal and emotional costs of replacing an employee

The stresses that come with replacing an employee can sometimes outweigh the fiscal costs of replacing said employee. Our advice? Avoid it all together with a streamlined, simple, informative and productive employee development process. For example, 60% of companies have already started re-engineering their performance management system.

Tweet This: 60% of companies are re-engineering performance management. Have you?

In need of some help in this department? Check out Visibility’s talent development solutions to help aid in the assistance of employee development.

 

3. HR Professionals are constantly looking for ways to improve their processes

Keep up on your employee development processes. Setting up a good platform in which an employee can learn paves the way for successful training and continual development in the future. 80% of companies believe HR skills are an issue and 39% rate this as an outright issue. 

 

“Highly-structured, one-size-fits-all learning programs don’t work anymore. Individuals must own, self-direct, and control their learning futures. Yet they can’t do it alone, nor do you want them to. The development and growth of your talent is vital to your ongoing success, ability to innovate, and overall productivity.”

- Keith Ferrazzi, Entrepreneur

 

4. Informal learning, while great, should not be your main vessel of training

Who doesn’t love inadvertent learning? That special kind of learning sharp witted new employees simply pick up from observing and inferring from other employees? While this type of “off the cuff” training is great, it should NOT be a company’s only means for knowledge sharing. An astounding 87% of companies rate "retention, engagement, and culture" as an important imperative and 50% rate it "urgent."

Leaving too much for an employee to infer can lead to major communication problems in the long run. Misinterpretation is the essence of all workplace issues! Be nothing if not overly clear about what you expect from your employees.

Now you have your reasons, but here comes the real work. Check out the many programs Visibility Software has to offer in the employee development realm if you don’t know where to start. You might be surprised at just how easy employee development can really be!

Cyber Train Demo

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Tags: employee development

4 Ways HR Practitioners Can Continue to Grow

Posted by Mark Jackson on Wed, Jul, 08, 2015 @ 08:07 AM

The world is not going to get rid of HR anytime soon, but the field is changing in many drastic ways. Technology always has HR reps questioning their role at a company, outside market forces can always lead to new developments which diversify your skillset, and companies are always looking to speed up hiring and HR process. As someone who works in HR, you need to keep up with these changes. And if you follow our advice and integrate four key changes into your work life, you should be more than capable of leading the way in HR at your company.

HR-Practitioners

Always Be Open to Change

After a certain point in their careers, anyone can get set in their ways. They know how to do their job, have settled into rhythms of performing that job, and produce adequate performance. Why change a good thing? Because there are always ways to improve how well you work, in both formal and informal ways. 

Here HR Practitioners can take a cue from leaders, 76% of which are looking for more formal learning in the workplace. Though most training still takes place on the job, HR is a fast-moving industry, and if you only stick to “doing your job,” you’ll eventually fall behind. Talk to your managers about implementing more formal workplace learning, accept invitations to seminars on topics that interest you, and always be learning to changing your processes. No budget for travel or conferences? Then start an innovation book club at work or with like-minded individuals in your community.

Tweet This: Grow as an HR practitioner with these professional development tips.

Be a Positive Force

HR is often seen as one of the departments consistently holding businesses back. Other people at your company might think your department has too much red tape or enforces too many unimportant rules. A bigger issue, however, is that only 8% of HR leaders believe their teams have the skills to tackle all of the challenges of the workplace. If you want to grow as an HR rep, you need to fight back against both of these preconceptions.

The red tape can be tricky and will always be there, but your job is to explain why it’s there, and why it’s necessary. When employees understand why the forms they’re signing are important, they still may not love you, but they’ll end up knowing more about your situation, which will hopefully serve to let them know you’re on their side. Try explaining in person, via email or through other fun ways (try social or the company intranet) why you’re asking for specific help. Make it a team effort. 

Continue Networking After Getting the Job

When you hear the word “network,” it’s almost always followed by “for a job.” But networking can do more than help find a job — it can help you get better at your current one. Lily Zhang (@lzhng), a career Specialist at MIT, details how simple conversations can help illuminate the way forward for both participants. 

"Ask people you meet or sit down with about their recent challenges and accomplishments or about trends they’re seeing in their work. In particular, if something big has recently happened in your industry, see what your conversation partner thinks of the impact it might have on the field as a whole. You’ll get a much broader perspective if you expand the conversation beyond your own friends and officemates."

Discussing recent developments in the field with colleagues will keep you ahead of the curve and will improve your ability to do your job on a regular basis.

Take Reviews Seriously

While it’s great to discuss the industry with friends to see what new solutions you can implement in the future, your annual review can give you insight into what you could be doing to improve right now. Somewhere between 60 and 90% of employees (and managers) dislike performance reviews, but they can be key assets in growing as an HR representative.

Direct feedback can reveal what areas of your job you may have ignored recently, which ones you don’t need to refine for the time being, and what new opportunities you can take advantage of with the help of your boss. Not all annual performance reviews are pleasant, but most of them are valuable. 

Being on the forefront of change is rarely easy, but always satisfying. By being open to change, fighting back against old practices and misconceptions, learning from your peers, and taking direct feedback to heart, you should see positive results in the near future, and continue shaping the way people hire, the way you always have. 

Need to teach or learn a new skill in record time? Visibility Software’s learning management system helps you and all of your employees keep up with all the things you need to know in the workplace. Take a demo of our suite and you’ll see how fast and easy learning really is in the workplace.

Cyber Train Demo

 

 

Tags: employee development, professional development