A defined training program allows employees to strengthen their skills and expand their knowledge base. Additionally, training and development programs can boost employee productivity and retention and improve company morale.

Leaders often claim employee training and development programs are expensive –– and they are right. According to the 2019 Training Industry report, the total for U.S. training expenditures cost $83 billion. However, employees want to work for an employer that will upgrade their skills. In fact, 94 percent of employees would stay with a company longer if there was an investment in learning.

While both companies and employees can reap the benefits of a great employee training and development program, many organizations only implement it because others are doing it, not because it is helpful. It is necessary for organizations to understand the importance of training employees, the overall strategy and the execution.

Whether you are looking to train and onboard new hires or expand the knowledge base of employees already working in a particular department, these programs are vital to creating a successful and competitive company. However, it’s not always the case that some training is better than no training. In this blog post, we will discuss certain consequences of ineffective training and what companies can do to combat these risks.

Waste of time and money

Poorly planned and executed training programs are a waste of time and money. However, training at any company is essential. But due to poorly executed training programs, it is often one of the first things a company cuts when budgets tighten.

With an effective training program, companies can make training less intensive and time-consuming. For example, training doesn’t always include formal presentations or workshops. It should respond to an individual’s needs. Employees, particularly millennials and Generation Zers, tend to lose interest quickly. This happens especially when the information doesn’t necessarily pertain to them or they’ve already heard it before. By tailoring the training through mentorships or on-the-job practice to fit an employee’s needs, you can dramatically cut costs and be more effective.

Leads to low morale

Employees are interested in performing their jobs well to advance through the company’s ranks –– which comes with a sense of pride. But, when there isn’t effective training, employees don’t understand how to do their job properly, making the idea of growth within the company seem impossible. This can ultimately lead to low morale and low productivity among employees.

If you want to retain good employees, you have to invest in their happiness by prioritizing their development. For new hires, in particular, a great training and development program can make or break their time at a company. On average, 50% of new hires fail within the first 18 months. Training should start at the beginning of a new hire’s time at the company with onboarding. Onboarding allows new hires to adjust to the social and performance aspect of the organization and their job. In addition, new hires can learn more about the industry, the culture of the organization and the skills required to function effectively within the organization.

Employee training is essential to an organization’s success, but it has to be done correctly. An effective training and development program can provide numerous benefits to both the organization and its employees. It can help reduce costs and improve employee morale, therefore positively impacting your organization’s bottom line.

To learn more about training and development programs, check out our blog on 3 Ways Agile Learning Helps to Improve Your Company’s Training & Development Program!