The dilemma of training
Study after study has proven that corporate training programs are essential in helping employees develop their skills and increase productivity, so why is it that such few business owners are willing to invest?
According to a survey conducted by Gap International, a business management consulting firm, 85% of company executives agreed that maximizing talent and investing in employees is very important for the future growth of any organization.
And yet only 37% of these executives believed that their employees could rise through the ranks within the company, and even fewer said they’d invest in training this year.
So why is there such a huge discrepancy between how business owners feel and what they actually do?
The problem lies in the age-old dilemma between “what if we train an employee and they leave?” and “what if we don’t train them and they choose to stay?”
Most companies choose not to invest in any training because they’re too worried about employee retention and a potential loss of investment.
What these organizations don’t realize, however, is that employees are far more likely to leave if they feel like they aren’t receiving adequate on-job training, rather than if the company invests money on them.
This problem is especially prevalent in the UAE, where the staff turnover rate has always been particularly high. Smaller organizations have measures in place to assess the training needs of their employees, but very actually get around to regularly conducting workshops or sessions.
The result is a largely unsatisfied workforce that eventually leaves for larger multi-national corporations the moment an opportunity presents itself.
So, what can be done?
The answer is and has always been training employees for the future.
Business owners who don’t spend money on their employees might not have to face the fear that their investment on training will go to waste, but they run the risk of unsettling their top performers who’ll naturally want to improve their skills and work their way to the top at the company.
A disgruntled workforce is an unproductive workforce, and eventually, the business might even have to shut down as sales start to suffer.
Training for a brighter future
There are multiple reasons why every business owner should be investing in corporate training in Dubai for their staff:
1. Improved overall performance & morale
This is a fairly obvious statement, but any employee who receives regular training designed to improve their skills will of course, over time, get better at their job. This is true for every member of staff at your company, regardless of their department or job description.
As performances improve, the overall morale and confidence within your organization will gradually rise as well, thereby creating an environment that promotes a high work ethic and loyalty.
2. A deeper understanding of the business
Maintaining a consistent corporate work culture throughout the company is more important than most business owners realize.
Every department within an organization is set up to work towards the same few end goals: improve sales, increase the client base, and grow for the future.
Through effective training programs, these departments can be taught to work together in unison. Employees should be taught about what the company actually stands for, what the brand means to customers, and how they can promote and enhance the corporate identity on an individual level.
Company-wide workshops also encourage a more friendly office environment, as people from different divisions get together and interact on a personal and professional level.
3. Lower staff turnover
Talent leaving and joining is a natural part of any organizational setup. In fact, it’s actually healthy if a company has fresh faces and new ideas coming into the business every few years, since it helps keeps the older employees on their toes and provides fresh solutions to existing problems.
A high staff turnover, however, can be extremely disruptive to workplace productivity, and a lot of time and resources will be wasted on replacing and hiring new staff.
According to professional corporate trainers in Dubai, the total cost of replacing a single employee can go up to almost $2,500 (the cost is affected by factors like salaries, lost sales, time lost during interviews, decreased productivity of the existing staff, etc.).
Multiple this cost with the average number of people leaving an organization every year, and you’ll realize how much companies spend on hiring new talent.
With continuous employee development, these costs become much less of a worry. Yes, there are expenses associated with the training itself, but they’re much less than the estimated $2,500 you’d incur for a new hire.
Constant training programs also ensure that every employee is working to the best of his/her abilities and that your workplace is as productive as can be.