Why Train?
Research shows that productivity increases while training takes place. Staff who receive formal training can be 230 per cent more productive than untrained colleagues who are working in the same role.
Source: Smith A., 2001, Return on Investment in Training: Research Readings NCVER
That’s one very good reason to train. There are several other equally valid reasons for your company to establish a well defined training program.
Here’s a few to consider:
Staff retention
Training is well known to help increase your staff retention ratios which can reduce costs significantly.
According to government research ‘the loss of one competent person can be the equivalent of one year’s pay and benefits’.
The research goes on to say ‘In some companies, training has reduced staff turnover by 70 per cent and led to a return on investment of 7,000 per cent.’
That is a massive figure.
Tangible Benefits
The benefits of training can have an impact on many levels of an organisation. Some of the tangible benefits are potential improvements to the bottom line through a reduction of costs associated with:
- Less workplace accidents, which can assist with lowering your insurance premiums
- Lower recruitment costs through the internal promotion of a more skilled workforce
- Less wastage of productive time and materials
- Lower maintenance costs of machinery and equipment through better understanding of operational procedures
Intangible Benefits
Sometimes the intangible are just as valuable to your organisation as the tangible – consider;
- Improved customer satisfaction
- Improved staff morale and motivation
- Reduced environmental impact
- Company feel good factor
- Enhanced quality of service and products
- Competitive advantage
- Better communication
Ongoing training almost always shows a positive return on investment. In today’s market more and more contracts available to the Civil Construction Industry require tendering – part of that tender, which is gaining significant importance, is the qualification levels of your current workforce.
