Staff training and development in the employee lifecycle
Studies have shown that 69% of employees want to be able to do their job better or faster , and often require their employer’s support as a means of developing their professional knowledge. By engaging with continuous development in a self-directed and connected form , organisations can accumulate a collective understanding to enhance their staff contentment and retention rates.
83% of employees actively seek opportunities in which they can gain new skills in the workplace . If you are not providing your workforce with these opportunities, in both professional skills and soft skills, they may begin to start looking elsewhere. It therefore pays dividends to invest in your staffs’ development.
Lessen the skills gap
50% of organisations report skills gaps in key business functions  highlighting that training and development is still a challenge in the workplace. Whilst training and development is often seen as an initial cost, these costs will ultimately pay for themselves as your workforce becomes better skilled.
These skills could include the business-critical ‘soft’ skills of problem solving, critical thinking, team work and communication. These ‘soft’ skills are offered in over 80% of organisations , but the related training is rarely online-enabled. This is problematic, as Towards Maturity has reported that the best performing organisations are twice as likely to make use of technology for the training of these skills .
Online training Learning Management Systems (LMSs) encourage employees to take responsibility for their own development, providing line managers with insights to assess their teams’ skills and knowledge as a unit and as individuals. An LMS provides communication between the manager and the individual regarding their skills and knowledge, allowing for better and more honest assessments.
Time is money
To fully recognise the worth of online staff training and development, processes must be implemented to measure the costs of training participation. This is a simple process which enables the cost measurement to be compared to the record of benefits in return of expectation. Evaluating and illustrating the effectiveness of activities can aid the support of business development.
Through the era of ‘Big Data’, more information is available to make sense of . With a more data driven approach, you can track key metrics such as staff turnover and retention rates in relation to the implementation of staff training and development programmes.
These metrics, and many others, enable you to demonstrate the value of training and development, and how this positively affects the company in terms of staff retention and availability of key skills. 72% of CEOs have concerns regarding the availability of key skills , so by producing reports reflecting the added value of providing training, you can ensure the success of your organisation’s future.
Training for the future
94% of organisations believe that workforce development requires continuous investment and improvement  – this is partly due to a better skilled workforce, but also due to the improvement in retention rates and therefore decrease in hiring costs. If learning innovation is implemented well, organisations see up to an 18% reduction in costs  – including training costs and hiring costs.
This is because successful staff and training development increases employee satisfaction and engagement by 28% . With 83% of staff seeking out new opportunities to gain further skills in the workplace, it is evident that staff are looking to improve themselves and succeed.
These successes can include both soft skill training which can be replicated in their personal lives, or for professional qualifications. Both successes provide a sense of achievement in individuals and therefore increases their work satisfaction.
 Towards Maturity, ‘Unlocking Potential: 2016-17 Learning Benchmark Report’