Investment in training is extremely important for companies and for employees, so the economic resources allocated to it should no longer be considered an expense, since training translates into human capital, increasing employee productivity and generating higher and better performance for the company.
importance of training in the company
For workers, investment in training will increase their employment opportunities and the achievement of a higher salary. In addition, training is insurance against unemployment, since the more training received, the better able one is to keep a job or access a different one.
For the company, training increases the productivity of workers, increases their motivation, generates greater confidence in the organization itself, arouses a feeling of adherence and belonging to the company, reduces the feeling of professional stagnation and increases the periods of permanence in the company. Training an investment for companies
To overcome the current crisis, companies need innovation, which implies more knowledge, which generates a greater need for training. Knowledge is a production factor that affects the competitiveness of the company and its ability to innovate depends on it (an essential condition to grow in the knowledge economy). To innovate is to turn knowledge into wealth, and knowledge is contributed and transmitted through training.
The knowledge of its employees is the company’s greatest capital and is constantly changing. The globalization of markets and the emergence of new technologies require companies to continuously invest in the most important resource they have: their human capital.
Training motivates employees and this motivation ensures the success of the company, helping people to be more competitive and allowing them to achieve the greatest business projects. A good employee training plan improves the brand image and prestige of the company, which is thus more attractive both to its own workers and to external ones and allows it to attract and retain the talent that is key to business success.
Employee training increases the quality of services or products, increases productivity, improves customer treatment, satisfaction, and loyalty, increases employee and product profitability, improves employee loyalty, improves and complements their remuneration, and increases its versatility by improving flexibility and reducing absenteeism costs.
New Jersey business strategy coaching is much more efficient in their work The company is more attractive for candidates to join, as they highly value the possibility of receiving continuous training. In addition, the cost of training in the company is low and can be fully subsidized.
Self-employed workers must also be aware that training differentiates them from the rest and adds value to their activity in a very competitive market.
Most important characteristics of the training process in the company
- The incidence of in-company training tends to be higher among young people than among adults. – The groups most likely to receive training are those with a higher level of education, higher-level employees, and skilled workers.
- Large companies invest a higher percentage of salary in training.
- The existence of subsidies and bonuses in training has a direct impact on training decisions in companies.
- The influence that internal training has on productivity is evident in the short and medium term, it has positive effects on wages and constitutes a partial guarantee of employment stability within the company in the long term.
- In addition to reflecting positively on permanence in employment, training is also reflected in a greater probability of retraining and/or relocation in the event of job loss.
- The ability to detect training needs is low when it is done by the company itself, and very low in the case of small and medium-sized companies. On the other hand, companies also have difficulties when it comes to defining for themselves and correctly the areas of continuous training to attend to, as well as the appropriate content of the teaching to impart to their staff.
- The greater or lesser propensity of companies and workers to participate in training processes directly affects the best economic results achieved by companies over time.
- Companies are increasingly tending to invest in the training of newly hired employees and to maintain stable plans for the workforce as a whole. This trend is weaker in SMEs.