5 Benefits Of Educating Your Employees
When it’s time to add new staff to your team, you clearly look for the most skilled and qualified candidates you can find. You and your HR team might spend a lot of time crafting the perfect online job posting, making sure you’re hitting all of the required skills and education you’re looking for. A lot of time, money, and resources are spent to interview, screen, and onboard the perfect new addition to your team.
On the other hand, a lot of businesses prefer to promote from within – finding qualified current employees that can handle more responsibilities. One of the best ways to improve the skills of your current employees, getting them ready for bigger tasks and management roles, is to provide continued education. Footing the bill for seminars, online certificate courses, and even full degrees makes for happier and more valuable employees.
Here are some of the benefits of providing education opportunities for your current employees:
1. A Boost In Morale
Employees appreciate benefits. Add-ons like extra vacation days, paid sick days, fun days, and education programs are attractive to new hires and current employees. The benefits you go above and beyond to offer for your employees makes them feel appreciated and like a valuable part of the team. When current employees feel valued, their morale improves. Offering continued education support can seriously boost their attitudes, creating a better office environment.
2. Better Retention Rates
You’re probably hyper aware of your client retention rates. How well you manage retainer accounts is what helps pay your bills each month – the more you have, the better you’re doing. The same goes for employees. You should be just as concerned about how long your employees stick around. High turn-over rates means you’re probably lacking in some way. Education programs are added incentives for employees to stay with you for the long-haul.
3. Increases In Productivity
When your employees are better at their jobs, they’re more productive by nature. By offering to pay for seminars and continued education, you’re working to create industry experts – right under your own roof. The more your employees know about their trade, the better they can perform. And, when you’re productivity is high, so are your profits. More productivity also means happier clients – something every business owner wants more of.
4. A Move In Motivation
An investment in your employees’ education now means they’ll be more motivated overall. Short term, they’re motivated to learn more, earn good marks, and implement what they’re learning. Long term, their newly learned skills turn into good habits and better business practices. Their motivation is turned on to over-drive when they know they can earn more money and higher ranks with more education. It’s important to note that increased motivation works hand-in-hand with better morale and productivity.
5. Efficient Advances And Promotions
When you need to fill a new or recently-vacated role, it’s usually easier to promote from within. You already trust your current employees, making them better candidates than outside applicants. Sending current employees to education programs like finance and insurance training classes mean they’ll be more qualified for bigger roles within the company. Even more, current employees will trust someone they know as their new manager more than a stranger brought in to do the job.
Offering to pay for continued education may seem like a significant up-front cost, but it’s really just an investment in your future. Employees stay at jobs where they can grow. Offering to educate them with seminars and classes means they’ll keep contributing to their own value, and the value of your company.