Undoubtedly, when your employees are trained, they are empowered, engaged, and better prepared to deliver. More so, when your employees are trained, they deliver a higher quality of service to your customers.
Continue reading to learn 10 amazing stats about the overall effects of training:
1. High Turnover
Each year a staggering $11 billion is lost because of high employee turnover according to the Bureau of National Affairs. Instead of allowing great employees to leave your organization, you can use training and development courses to keep your best assets with your company.
2. Engagement is Down
Training engages your employees. However, according to Dale Carnegie, only 29% of the workforce is actually being engaged. On the other hand, 26% are actively disengaged and 45% are not engaged.
3. Training Must be High Quality
Simply put, not all training is created and delivered equally. When it is, 65% of employees suggest the quality of learning and training opportunities bolsters their engagement according to “Learning’s Role in Employee Engagement,” ASTD.
4. Training Leads to Higher Employee Performance
When your employees are trained, they perform better. According to a Gallup poll, companies with engaged employees outperform others by up to 202%.
5. Training Drives Manager Proficiency
It’s important to start getting a new employee acclimated as soon as you can. Problems with direct supervision is responsible for a staggering 49% of disengaged employees. Since good managers determine whether people stay or go,it’s important to make sure management is trained.
6. Training Instills Pride
When an employee works for your organization, it’s important they are proud of the organization. 54% of employees who were proud of their company’s contributions to society are engaged. When your employees go through training, it’s important you explain your organization’s contributions to the community, such as sponsorships.
7. Training Leads to Customer Satisfaction
When an organization makes only a 20% additional investment in training, it leads to a 38% increase in customer satisfaction and quality when the company is a medium learning performance organization. The same investment leads to a staggering 82% increase in low learning performance organizations. Simply put, training pays much higher dividends than the associated costs.
8. The Profitability of Training
In addition to higher customer satisfaction, organizations that make significant investments in training have lower employee turnover. As a result, these organizations benefit because training transitions from a cost to a driver of profitability.
9. Higher Stock Performance
Training affects the entire organization from top to bottom. A labor relations study demonstrated organizations that invest in employee training had higher stock performance of over 20% and were at the top of the S&P average by four percentage points over a two year period.
10. Driving Factors Behind Training
Training instills a wealth of emotions in employees, but the most basic emotion is value. To get to this emotion, employees must feel:
95% of employees that have at least 3 of these motivators are engaged.
Learn how to engage your employees with Lessonly here.