Developing Your Greatest Asset

How often have you heard organizations use the phrase, “Employees are our greatest asset?” With that mindset, investing in employee training and development is the key to sustaining business growth and success. According to LinkedIn’s 2023 Workforce Learning Report, 93% of organizations are concerned about employee retention. A valid concern, considering the process of hiring and recruiting qualified staff is lengthy and costly. Oftentimes, however, the employee training and development shortly ends after onboarding. We must ask ourselves, are our employees receiving the right support for their career growth and development?

In the 2023 LinkedIn Workplace Learning Report, it found that if employees aren’t learning, they will consider leaving. Three of the top five factors that people consider a new job indicate their desire to challenge themselves, grow, and learn new skills. Of those who were asked which factor is the most important when considering a new job opportunity, the youngest workers (ages 18-34) are most likely to value opportunities for career growth, learning and skill building. If employee retention is not a concern for your company, consider the other importance of training and development:

Quality Improvement- Customers are becoming more and more quality conscious and their expectations are growing as well. For customer satisfaction, the quality of your products and service must be continuously improved through the training of your staff.

Higher Productivity- To stay competitive it is essential to increase productivity and reduce costs. By effectively training employees, their performance will improve from their newly acquired skills.

Quicker Learning- With systematic training through trained instructors, the learning time will accelerate. If employees had to learn through trial and error, they will take a longer time, and may still not know the right methods of performing the process.

Safety- Trained workers can handle machinery and equipment safely, therefore reducing workplace accidents.

Effective Management- Training develops skills among workers and better prepares them for future roles. After effective training, an employee requires less supervision, and experiences improvement in their decision making and problem-solving skills.

How to implement Employee training and Development Plan

1. Training Needs Analysis- Determine if training is needed or not and what kind of training is needed and to whom. Conduct surveys and questionnaires among employees and management. Make observations among the workforce and conduct internal audits.
2. Set Goals & Objectives- Define the goals and objectives of training- understand why training must be conducted, what outcomes it will bring, and how it will lead to the organization’s effectiveness.  
3. Design Training programs- The design process will include the content of the program and what tools will be used to deliver the training. Consider your audience when selecting the mode of training. There are various types: microlearning through online software programs, coaching, hands-on experience, shadowing, role playing, simulations, instructor-led lectures, classroom group discussion and activities.
4. Motivate Trainee- Training can only be successful when trainees are motivated. Employees are motivated to attend training if they believe that it will help them stay up to date in their field, if it is personalized for their interests & career goals, and if it will help them get promoted within the company, or move closer to their career goals.
5. Implement the Program- Put the plan into action! Make sure your training offerings are accommodating to support the learner and department schedule. Otherwise- you may not have any attendees.
6. Evaluate- Evaluate the performance of the attendees to ensure training objectives were met. You should also give the attendees a chance to evaluate the trainer and program too! You always want to look for ways to continually improve and revise the program to ensure its effectiveness.

At First Community Bank, we understand the value of education, and the need for constant growth and learning. Our employees are highly regarded, and we continuously strive to improve and invest in their futures in various aspects, including training and development. We look forward to sharing our training successes with you!

References:
Anand, G. (2023). Workplace Learning Report: Building the Agile Future. LinkedIn Learning. https://learning.linkedin.com/resources/workplace-learning-report

Author: Jessica Carey, Division Trainer

Jessica has worked with First Community Bank for 3 years, successfully onboarding new staff and developing training programs for all existing employees. She has graduated from the Educator Preparation Institute in Coconut Creek, FL. Jessica believes that learning is life long journey and always having a positive mindset that everything can be improved.