Forecasting and measuring benefits of Training & Assessment
Posted by Admin | May 27, 2016
1. Time Saving
2. Staff Turnover Savings
3. Productivity Increases
Productivity increases occur where, as a result of training, additional output can be achieved with the same level of effort. This implies that the organization requires or desires more output in this particular area. If it does not, then it might be better to express the benefit as a cost saving.
Examples of productivity increases include:
> Improved methodologies reducing the effort required
> Higher levels of skill leading to faster work
> Higher levels of motivation leading to increased effort
4. Labor savings
Labor savings occur where, as a result of
the training, less effort is needed to achieve current levels of output.
We have to assume that savings are realized by a reduction in the amount
of labor applied to a particular job, not by utilizing the newly
available time to achieve further output on the same job.
Examples of labor savings include:
> Reduced duplication of effort
> Less time spent correcting mistakes
> Faster access to information
5. Fewer machine breakdowns, resulting in lower maintenance costs
6. Ready for world class business – professionalism approach
7. Incentive and motivation
8. Employees Retention & Loyalty
9 Mentoring and Coaching Culture for Business Succession Approach
10. Better customer service
11. Provide internal promotion opportunities
12.
Keep up with industry changes
Industries are constantly changing and so it is important for a business
to develop to avoid being left behind. It’s also important to make sure
your business is complying with any industry regulations, which can be
achieved through ongoing training, making sure your staff’s skills and
knowledge are up-to-date.
13 . Be in touch with
all the latest technology & Management developments
New technology is being developed all the time and so
it is not sufficient to run a one-off training session. Regular training
needs to take place to ensure that staff are using all the latest
technology comfortably and to its full potential. This can be achieved
through implementing a customized staff
IT training program, and by integrating
employee training with IT support.
14.
Stay ahead
of competitors
Standing
still can kill your business, so by making sure your staff are
constantly advancing, you will continue to move forward are remain
competitive within the marketplace.
15. Be able
to see weaknesses and skill gaps
With
regular training, a business can more easily identify any gaps in the
market and skill gaps within the existing workforce. By identifying
these gaps early, there is time to train staff in these required areas
so they can fulfil the role effectively.
16.
Maintain knowledge and skill
Although one off training may be provided to new starters, or
other employees, it’s important that training schemes are put in place
to help develop skills throughout their job. To retain knowledge, skills
need to be practiced and refreshed on a regular basis so elements aren’t
forgotten.
17.
Advance employee skills
Once a business has spent money on providing basic level skills, these
can easily be built upon and improved to provide much more benefit to
the business. Staff that know more can bring more to the table, and your
business will reap the rewards.
18.
Provide an incentive to learn
If training is provided as part of a longer development pathway,
employees will have much more incentive to learn, participate in the
session and put their new skills into practice.
19.
Increase job satisfaction levels and
increases self-esteem
Through continued investment from the business, staff can have a much
higher sense of job satisfaction, which can improve their motivation
towards their work. This reduces employee turnover and increases
productivity, which directly improves the profitability. It also
prevents competitors from taking away your best employees by offering
training incentives.
20.
Provide internal promotion opportunities
Employing new staff involves high recruitment costs and hiring fees.
However, with ongoing training, your existing staff can become more
eligible for internal promotions. Unlike new staff, you can guarantee
they have a complete knowledge of your business, the correct skill set
and are people that you know and trust.
21.
Attract new talent
All businesses want to have the best employees and so with ongoing
training, this will not only mean better staff retention, but the
business may also attract better talent from the start, as this gives
the business a good image and is a key feature many people look for
within their job search.
22. Economy in Operations
Trained personnel will be able to make better and economical use of materials and equipment’s. Wastage will be low. In addition, the rate of accidents and damage to machinery and equipment will be kept to the minimum by the well- trained employees. These will lead to less cost of production per unit
23. Uniformity of Procedures
With the help of training, the best available methods of work can be standardized and made available to all employees. Standardization will make high levels of performance rule rather than the exception.
24. Less Supervision
If the employees are given proper training, the responsibility of supervision is lessened. Training does not eliminate the need for supervision, but it reduces the need for detailed and constant supervision.
25. Systematic Imparting of Skills
A systematic training program helps to reduce the learning time to reach the acceptable level of performance. The employees need not learn by trial and error or by observing others and waste time if the formal training program exists in the organization.
26. Creation of Inventory of Skills
When totally new skills are required by an organization, it has to face great difficulties in employment. Training can be used in spotting out promising men and in removing defects in the selection process. It is better to select and train employees from within the organization rather than seek the skilled employees from outside sources.
27. Higher Morale
The morale of employees is increase if they are given proper training. A good training program will mould employees’ attitude to achieve support for organizational activities and to obtain greater cooperation and loyalty. With the help of training, dissatisfaction, complaints, absenteeism and turnover can be reduced among the employees.