Looking for strategies to help your business succeed? As the professional world is ever-changing, staying ahead of the game is an absolute must. Shrewd business leaders know that investing in your team is one of the most powerful ways to accelerate your company. For that reason, it’s definitely worth your time to consider off-the-job training opportunities.
Whether it’s enrolling your staff members on an online course or financing their further education, this approach to building your workforce is a sure-fire way to excel. Let’s take a look at some of the numerous benefits of off-the-job training for your team.
Reduce staff turnover rates
According to Monster, while staff turnover can vary from industry to industry, the average rate is 15% per year. However, any industry leader knows the inherent value of long-term loyalty from staff members. With that in mind, aiming to reduce the turnover rate for your business should be at the top of your priority list. So, how can off-the-job training help?
What many employees are lacking can be simplified into a two-word phrase: career progression. Of course, nobody wants to get stuck in a rut when it comes to their jobs. In fact, according to recent statistics, more than 80% of staff members feel that a lack of progression influences their decision to stay in a role. Put simply, if team members crave the opportunity to learn skills, it’s a good idea to develop their talents, helping them to climb the corporate ladder.
That’s where off-the-job training comes into play. Offering employees the opportunity to progress and gain education in their own time is invaluable. In addition, since there are many engaging courses online, there are numerous ways to help catapult staff members forward.
Increase employee satisfaction
Satisfied employees are hard-working and productive employees. To get the best out of any team, managers and CEOS need to ensure that the staff members are content and thriving in their roles. Professionals value the chance to learn new things. Believe it or not, 73% of employees consider whether there are skill-building opportunities when deciding their professional career, according to a report from LinkedIn.
Arming staff members with a set of new skills is a savvy way to keep them on track. The more people have the opportunity to learn new things, the higher their job satisfaction could be. What’s more, offering employees the chance to train off-the-job means that they can be productive in their free time and build upon their expanding skillset. Adding this extra perk to your company’s repertoire could make a significant difference to the team.
Reward your team members
Staff reward and perk schemes have never been more critical. When it comes to keeping employees satisfied and ensuring that they are growing and developing, the more you can offer, the better results you can expect.
While there are many ways to reward team players through bonuses, gifts, and time off, there’s one perk that you should never overlook. Financing off-the-job training courses for your staff is a certain way to show your appreciation of their hard work and allow them to gain more from the role.
The main three reasons Millennials leave their jobs are better compensation and benefits, more advancement and the search for a greater challenge. Similarly, Gen Z workers leave roles because they yearn for more of a challenge, better compensation and benefits, and more advancement. Off-the-job training acts as both a company benefit and a means of advancement. You might say that it’s a win-win situation for staff members.
The professional world is a competitive one. Whether you’re an employer or manager, it’s your job to keep excellent employees happy and on course. So when you’re considering ways to bolster your offering, adding some off-the-job training to the roster is a stroke of genius. Simply giving staff members this opportunity could help strengthen the setup.
Nurture team talent
Does a team member show some unmistakable potential? Allowing that outstanding worker to pass you by would be a mistake. Instead, managers and CEOs can lean into the talents of their team by helping staff members to cultivate their skill set.
For example, should you find that a particular employee has a way with words, you might want to help bring out that skill. Enrolling them on a marketing or communications course will give them a career boost, or a course dedicated to soft skills could help them become the best team players they can be.
Acquiring the right talent for a company has always been a hot topic. However, before you start posting jobs online, it’s worth seeing which professionals shine in-house. Talent optimised companies outperform other brands by 16% in strategic success rates, according to a report from The Predictive Index. Focusing on this aspect of your business will help you grow the team’s skills and set you on the right pathway.
Off-the-job training is rife with potential benefits and could help you unlock hidden talent in your team. If you’re looking for a way to get ahead of the competition, investing in this innovative company perk is the answer you’ve been looking for.
Why not get started today and look for courses that would suit the skill set of your staff members?