The Impact of Training for Your Business

Improved staff retention

Training increases staff retention, which is a significant cost saving, as the loss of one competent person can be the equivalent of one year's pay and benefits.

 

The flow-on effect

The benefits of training in one area can flow through to all levels of an organisation. Over time, training will boost the bottom line and reduce costs by decreasing:

  • wasted time and materials

  • maintenance costs of machinery and equipment

  • workplace accidents, leading to lower insurance premiums

  • recruitment costs through the internal promotion of skilled staff

  • absenteeism

 

There is a common factor out there - successful businesses and organisations train their staff!

 

Improved quality and productivity

Training that meets both staff and employer needs can increase the quality and flexibility of a business's services by fostering:

  • accuracy and efficiency

  • good work safety practices

  • better customer service

Staying competitive

Businesses must continually change their work practices and infrastructure to stay competitive in a global market. Training staff to manage the implementation of new technology, work practices and business strategies allows your business to remain competitive.

 

For further research on the benefits of training for businesses, please read: Smith A., 2001, Return on Investment in Training: Research Readings NCVER.

 

Please refer to our Handy Links for further information. 

© 2020 by FFTI Training Council. 

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