Recent industry trends have shown a direct connection between productivity and staff morale. A company that has a strong training and rewards structure is a company that has higher productivity and profit levels. This would appear to be complete fact.
Every manager will attest to the fact that holding on to good staff is vitally important for the success of a business. Staff who understand the various elements of a business. Staff who have watched it grow, change and perhaps struggle when the economic climate was not so kind. These are the staff members who require less coaching and guidance daily but who are most worthy of being trained and encouraged to progress within the company.
When a valuable member of staff decided to the leave the business there are a number of silent costs to the business. The logistical elements involved in replacing an individual extend to fees associated with recruitment companies and HR principles as well as the very valuable time of middle and senior management who will be involved in the process in an intimate way. New members of staff must be trained and briefed on company policies and individual responsibilities as well as the understandable upheaval that staff change brings to the entire team and indeed company. Staff turnover can be a very positive thing but not when it halts the progress and revenue of the company of which they work.
HR Managers see a direct correlation between staff turnover and training packages. When a staff feels valued they automatically want to work harder and invest in the company in a more meaningful way. Such packages may include yearly training. Staff may be sent to do a part time evening course which gives them new skills and improves their knowledge of the industry trends and best practice. It may also involve in-house training days. Both of these can be sought through CMI College.
80% of successful Irish companies regularly invest in the education of their staff members. They see up-skilling and education as an important part of their staff appraisal schedules. It is part of the quarterly and yearly budget and it is something that staff, management and the overall company benefit from greatly.
Courses range from upskilling in practical areas of procurement or coming up to speed in best practice company social media. HR Management themselves wish to constantly feel on top of their game. Employment Laws change so regularly that it is deemed vital for the HR team to understand and adopt best practice when it comes to contracts and exchanges with staff.
For more information on how you can invest in your staff’s training and education please call CMI on 01-4927070