Investing in Employee Development Through Continuing Education Can Improve Revenues
Many people talk about education wistfully as an “investment in their future,” but companies that provide employee continuing education and training programs can literally see a return on that investment in terms of actual revenues.
Gains all stem from employees who receive training and work harder while feeling more engaged and satisfied with their jobs. According to some experts, enabling this growth on an employee level can promote company-wide growth as leadership potential improves.
Yet, too many businesses see employer-funded training and education as both a money and time sink — something that “pampers” employees by “wasting” revenues on their own personal growth. Nothing could be farther from the truth, and here is why companies benefit when employees continue to learn.
Employee Continuing Education Improves Retention, Builds Loyalty
Experts speak of the current “gig” economy in reference to high-paying full-time jobs, because turnover has increased so much in recent years. Employees work with organizations only a few years before moving on to find better opportunities.
One way that employers can hang on to their most valuable players is to invest in training, says management expert Victor Lipman. He asserts that when employers respond to the educational needs of their workers, they not only upskill that worker but enhance their ability to bring that company revenue.
“Taking an honest interest in someone builds loyalty,” he says. “Loyal employees are more engaged. Engaged employees are more productive.”
The reason for this affinity comes from multiple sources. The employee may feel as if they have more control over their work practices and environment with the knowledge and skills they have gained. For instance, a technical engineer may learn of a more efficient way to manage project tickets, which reduces their client’s stress as well as the time spent on an issue.
Secondly, employees that receive training may feel no small amount of gratitude towards their employers, who they feel care about their needs as a person.
“Many years ago my company invested heavily in my MBA, and it always meant a great deal to me,” reflects Lipman. Acts like these also improve the employee’s ability to step up to new challenges while growing in their workplace. As Lipman puts it: “Who doesn’t appreciate thoughtful support that helps you advance your own career?”
Employee Continuing Education as a Competitive Advantage
The flip side of providing employee continuing education is that those companies embracing training gain an edge when it comes to attracting top talent.
“Firms rated as top workplaces often provide training and continual learning opportunities for their employees,” says Joyce E.A. Russell, vice dean at the Robert H. Smith School of Business.
These efforts lead to higher reports of employee satisfaction, which pays off as companies earn a reputation as a positive and rewarding place to work.
If you want to learn more about opportunities to access training and employee education resources, checkout uscomputer.com/category/training. Take a page from our training book and consider Friday Lunch & Learns. We buy lunch on Friday and offer training on topics relevant to providing our clients with better service and IT support.
