What is Training?
In this article, by the term “training”, we mean to give an employee the skills, knowledge, and abilities to work in a company. Its goal is to enhance workers’ skills or teach them new ones. Training is either conducted by the employer himself or by the use of some third-party organization.
Why is Training Essential for a Company/ Organization?
One of the best practices that a company or an organization can adopt is training employees.
Training employees not only ensures that employees are well equipped to meet the company’s needs but also increases job satisfaction, creates a comfortable and friendly work environment, increases retention, and most importantly, multiplies profits.
How does Virtual Reality(VR) Enhance Training Programs?
Virtual reality (VR) can simulate the actual environment.
This technology is helpful as it creates a risk-free virtual workspace where trainees are not punished for their mistakes, which allows them to learn effectively by practicing while also getting used to the workspace before working there.
Moreover, tasks in dangerous work environments, such as coal mines, can be easy and comfortable for the workers as VR can familiarize them with the setting beforehand.
How does Training Result in Increased Retention?
Labor turnover has the potential to be one of the biggest problems for a company. The Center for American Progress reported that labor turnovers cost companies approximately 16% to 213% of a lost employee’s income.
Training helps decrease labor turnover as it makes the employees feel comfortable at work being well equipped for their jobs. Receiving specialized training makes the employees feel like an integral part of the workspace.
This can be backed by the results of a research project funded by Middlesex University for Work-Based Learning, which states around 75% of 4,300 employees thought that the lack of developmental opportunities was not allowing them to achieve their full potential at their jobs.
What are Some Aspects of a Good Training Program?
An effective training program:
• Is interactive, which makes trainees feel like their input is appreciated and has weight.
• Is taught by professionals in the concerned field. This adds credibility to the program and makes the trainees trust it.
• Includes exercises for the trainees to put what they have learned into practice.
• Is aligned precisely with what the trainees are required to do.
• Uses modern methods and technology to train the workers effectively.
• Shows that aim of the program is achievable.
• Drives motivation by adding slight competitiveness among the trainees.
• Along with technical work, trains the employees to make the work space as professional and comfortable as possible for them and their co-workers.
How do Training Programs Enhance Employee Performance and Drive Revenue?
• Well-trained employees meet the needs of the organization, which improves efficiency.
• Employee performance enhances when their training makes them feel comfortable at work.
• According to the Association for Talent Development, brands and businesses with effective training programs report an increase in income per employee by 218%.
• Said companies also possess a 24% higher profit margin than companies with lower training expenditure.
Training is our passion. Connect with us today to discuss how our team can help your team maximize performance and retention.
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