employee education, How Ongoing Employee Education Increases Company Profits, Partners Benefit Group
Employees

How Ongoing Employee Education Increases Company Profits

Many employees have long understood the value of continuing education, and, if they were fortunate enough to work for an employer who offered to help pay for such things any savvy employee who wanted to get ahead, either with the company they were currently working for or with an eye to gaining skills to further their careers in general, took their employers up on the offer of employee education. 

The problem was, until recently, few employers  actually did offer continuing employee education in the workplace. That, however, is changing, as employers in all kinds of business niches are becoming far more aware of the advantages that doing so has to offer them.

The simple fact is that by offering continuing education in the workplace almost any employer can reap the benefits, especially in the form of increased profits. How? Allow us to explain.

To Create a More Skilled Workforce

It’s an oft-repeated mantra across the human resources landscape these days; hire for talent and attitude, train for skill. There are many intrinsic benefits for employers who concentrate on creating and nurturing a more skilled workforce from within, rather than simply picking employees who have the ‘right’ academic qualifications already but may not actually be suited to the job, or the company.

Research has shown that employees who take part in continuing education programmes in the workplace- regardless of their previous educational credentials – tend to be more creative, better team players and more likely to be willing to contribute new ideas. And employees like these are valuable commodities indeed.

To Upgrade the Workforce’s Technical Skills

No matter what niche it operates in, any company is finding itself becoming more and more dependant on tech. And the simple fact is that the tech changes all the time. To keep up with these changes – and therefore ahead of the competition – companies need to ready and prepared for these changes. Not just in terms of the budget to upgrade software and hardware but also in having staff who are fully trained in their use.

To Increase Employee Satisfaction

Employee turnover, when it is high, can be a real problem for any company and have a significant impact on its bottom line. It costs a lot of money to hire and train new employees, so making a conscious effort to improve employee retention is a must.

Research study after research study has shown that companies that invest in the skills development of their employees generally have a better chance of retaining their staff as well improving employee morale and job satisfaction in general.

To Identify Future Leaders

Succession planning has long been a challenge for human resource departments and one that people are continually searching for new ways to improve. Employers are, however, increasingly finding that employees who are interested in improving their skills and continuing with their education are often perfect candidates for future leading roles and positions in the company, because they are willing to go that extra mile to improve themselves and their future career prospects.

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