Quietly and without much celebration, the post-internet era has transformed into a realm of perpetual education. Our smartphones and tablets, which accompany us daily, provide us with an endless flow of information at our fingertips.
Companies can leverage this innovative learning standard to foster employee engagement by offering them opportunities to pursue their passions. Let's explore how this heightened level of involvement directly translates into amplified profits.
One of the highest costs a company incurs is hiring new employees. The Society for Human Resource Management puts the average cost-per-hire at over $4,000. Reducing employee churn is crucial for maintaining a positive work environment and attracting top talent. Instead of letting employees go due to a lack of knowledge, it is much more practical and cost-effective to invest in their training and skill development. By dedicating time and resources to employee education, companies can enjoy reduced turnover rates and significant long-term savings.
Once employees establish a regular habit of learning, they will gain the knowledge and confidence needed to achieve exceptional results. Salespeople undergoing training can acquire new knowledge about products and enhance their techniques, which they can then apply in the field. This can lead to an increase in upsells or add-ons and contribute to higher profits. By investing in employee education, managers can save valuable time that would otherwise be spent on training new hires, allowing them to focus on effectively managing the business. Furthermore, when employees have a solid foundation of knowledge and continuously improve their skills, job satisfaction rates increase. By ensuring that your employees are well-trained, they will produce high-quality work that customers will appreciate, leading to customer loyalty and repeat business.
Well-trained employees deliver where it counts – in the quality of your service or product. When you encourage a culture of continuous learning, you pave the way for higher sales and a positive return on your learning system investment. Give your staff the tools to learn wherever they are, whenever they have the time, and they will step up and stay informed.
