benefits of upskilling existing employees
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Benefits of Up-skilling existing employees.TRANSCRIPT
Benefits to an employer of up-skilling an existing workforce
- Jason Blackwell
Presented to
Jason Blackwell
September 2013
Skills shortages are a key threat to the future growth of UK businesses.
Up-skilling the existing workforce is vital for securing a businesses future and ensuring it remains competitive.
Why should an organisation invest in up-
skilling its existing
employees?
Motivated Staff
Investing in your employees’ training and development helps to make them feel valued. In return they tend to be more motivated and loyal. Happy employees make a more efficient workforce and are more likely to go the extra mile for your business.
Increased Productivity
If your employees are well trained they'll be more productive, leading to increased efficiency and higher profits. The investment you make in their training and development may be small in comparison to the increase in revenue this could facilitate.
Increased Competitiveness
Businesses must have up-to-date skills to remain competitive. Training and development ensures that staff have the latest industry skills.
Staff Retention
If your employees feel valued they are more likely to stay at your company. By investing in their development you're showing them you think they have the potential to grow with your business. It is always important to retain your talented personnel.
Recruitment
Staff development plans help attract the best staff to your organisation. A visible demonstration of how prepared you are to invest in an individual for their future success will be a key point in attracting top talent to your company.
Durable Skills Base
Up-skilling existing staff can also help to fill gaps in your organisation. Training and development can help you redeploy staff to different areas of the business and to recruit from within your existing workforce for more senior positions.
Higher Quality of Work
Up-skilled employees backed by supporting staff who are equally as skilled in their respective areas of expertise have all the tools to do their job ensuring their quality of work is of the highest possible excellence.
Risk Management and Safety
Skilled staff help create a safer working environment and reduce the risk of accidents. Having skilled and motivated employees also mitigate risks in potentially litigious areas such as sexual harassment and diversity.
Reduced need for supervision
Competent employees require less management and supervision when carrying out day to day tasks. This means management can get on with more pressing tasks and leave employees to it.
Two Huge Benefits from up-skilling
employees.
Reduced Costs
Organisations find costs are reduced by improved productivity, reduced recruitment overheads, access to government funding and lower wastage.
Positive Return on Investment
Up-skilling and motivating staff improves efficiency and productivity, reduces recruitment costs and helps businesses minimise waste. All this helps an organisation increase its profit margins.
Myths about up-skilling existing employees
Employers fear that any investment in up-skilling
will be lost when staff depart.
The good news is that the majority of employees who are seeking training and development are motivated by a desire to stay with their current employer.
