You want your company to be the best. Guess what? Your people feel the same, which means they’re going to jump on every opportunity to improve their skills and advance their career. 82% of employees are continuously looking for opportunities elsewhere1. If they feel they’re not being given access to new opportunities with you, the attractive option is for them to leave and advance their career with someone else.
Behind insufficient pay, the top reason for leaving a job is a limited career path2.
Worse, is that there are 40% of employees who don’t receive the necessary job training and leave their positions within the first year3. When you consider that the average UK employer spends about £3,000 and 27.5 days to hire a new employee4, it’s a huge cost to the business, which is easily avoided through training that employee to be effective in their role.
An investment in your people is an investment in your company
The fact is, upskilling your team is one of the best investments you can make for your company’s future. By ensuring your team have all the skills and certifications needed to do their jobs, your business can operate at peak performance.
The research shows that companies investing in training programmes experience 218% higher income per employee, and enjoy a 24% higher profit margin than those who spend less on training3.
For the best results, you need to make a real commitment to development - not just adhoc courses. It’s why investing in a membership is beneficial, because it grants your team access to a rich, vibrant community of like-minded people. Now it’s not just about the training, it’s about creating the right environment for them to really thrive.
But why do training programmes have such a profound effect on the bottom line?
Offer training and it’s no longer ‘just a job’
To invest in training for your team shows that you care about them and their future, which means they care about you and your success, which means they’re fully engaged in their role.
Feeling like they matter to the business and are empowered to perform their best work, your engaged employee is one of the greatest assets your company can possess. Companies with engaged employees outperform those without by up to 202%3. And, they see a 41% reduction in absenteeism and 59% less staff turnover5.
It has to be the right training
Entering into the world of training is like walking through a minefield. Often, employees are left to find their own courses, which either they don’t do, or they pick something that takes their fancy, rather than it being related to the core skills they need to progress in their career. Or perhaps you find a course and invest in the training, but the quality is so poor that your people don’t see the value.
Rather than blindly investing in any training, you want to ensure you’re getting quality training that is guaranteed to deliver the results you need.
60,000+ members have chosen BCS because they see the value in being part of something bigger. As well as the opportunity to continuously learn from their peers, they benefit from access to our portfolio of accredited courses. Now you can work with your team to determine the best training to invest in. And, unlike some courses that simply provide a list of bullet points about what the course covers, we can demonstrate how it will help the individual to progress in their career and quantify its value to your business.
Training requires input from both sides
The problem with most appraisals is that while they should be about identifying how to get the most out of your people, appraisals fail to bring joy to anyone because they’re approached in the wrong way.
Often, your people know what help they need to improve, but feel unable to ask - 70% of employees believe training could help them become more focused on the job and better at managing their time, yet 66% have never asked their managers for such training6.
Formalising your training programme around a structured framework can help to foster those important conversations about how to make sound investments for the future that support both the business and the individual.
Develop your digital talent with RoleModelplus
BCS has developed RoleModelplus to help with your workforce planning, recruitment and staff development. A skills mapping platform, it enables you to uncover all the skills that currently exist within your organisation. By aligning it to your business strategy, RoleModelplus helps you create specific role profiles so you know the talent you need to secure your future success, and then identify the specific courses your team can take to plug any skills gaps.
Engaging in training around a structured framework presents three key benefits:
- Training is aligned with the organisational goals, which streamlines spend on learning and development and tracks the return on the investment.
- Each employee has a tailored career path, which shows them exactly what skills they need to develop to progress to the next stage, and perhaps reveal opportunities they hadn’t considered before.
- Through the ‘Find an Expert’ function, you can see at-a-glance who possesses certain skills in the business and redeployed to avoid investing in unnecessary training.
Because RoleModelplus is based on the SFIAplus framework, any new skills and certifications gained are transferrable to any role or organisation your employee may decide to move to. But hopefully by now you’ll have seen that they’re highly unlikely to leave from the moment you’ve invested in training them.
However, if employees do eventually move on, RoleModelplus makes succession planning much simpler because you can efficiently recruit for the skills you need to replace them, rather than a ‘catch-all’ job title. Furthermore, proving yourself to be a company that cares about its employees by investing in their future, will make it easier to attract the top talent.
- Jobvite: 2018 Job seeker nation study
- HRdive: Insufficient pay, limited career paths weigh heavily in the decision to job hop
- Shift Learning: Mind-blowing statistics that prove the value of employee training and development
- Glassdoor: How to calculate your cost-per-hire
- Forbes: 10 Timely statistics about the connection between employee engagement and wellness
- Udemy: Majority of U.S. workers feel distracted at work, blame technology and lack of training for lower morale and productivity