Tell me why "Learning and Development" is important again?
Updated: Jan 29
Last month we posted a few reasons we believed learning and development were so important for companies to focus on. We still believe all these to be huge factors right now so we wanted to put them all into one place that it would be easier to find them!
Hiring is more expensive than employee retention
The process of recruitment can be incredibly costly to businesses with the average cost of per hire in the UK being £3000 (Glassdoor provides a great formula to work out your own individual ‘Cost Per Hire’), with frequent turnover this can create unnecessary expenditure which could easily have been avoided with a more effective learning and development plan.
Increasing employee engagement can have ripple effects across your business and can improve your company culture. A 2019 Retention report found that avoidable themes were trending up as reasons to why employees chose to leave their previous company, these themes were things such as ‘work environment’ and ‘manager behaviour’.
Training employees improves your bottom line
No business is going to complain about making their company more money, you’d be silly to. Investing in your team and how you onboard them can improve their efficiency and effectiveness within your organisation. Our programmes have increased internal brand engagement by up to 48%, this kind of engagement will have long term impacts on a reduction in staff turnover whilst improving productivity and profitability simultaneously.
Improved customer service and satisfaction
Customers are central to brand success, B2B or B2C and everything in between.
Investing in the quality of your programmes from induction to leadership and management can enhance your company reputation and profile. An effective plan can make your brand synonymous with outstanding customer service, programmes which are designed to address potential weakness or issues can turn them into your biggest strengths.
We hope this can help you to make your next big decision on how and why to invest in your team's training and development but if you need a little more convincing below is some useful links that can give you some more detail.
As always #behappybehuman