The Importance of Training & Development in the Workplace
Communication can make or break a company. Effective communication resolves problems, unites employees and increases their loyalty. Employees have some weaknesses in their workplace skills.
A training program allows you to strengthen those skills that each employee needs to improve efficiency in the work area. A development program brings all employees to a higher level so they all have similar skills and knowledge.The employee who receives the necessary training is more able to perform their job.
Good business communication is essential to building a team that will make a business a success.Communication is especially important if members of a company are to work as a team towards the same goal.
A well-designed training program communicates to your employees what is expected of them and, more importantly, how to meet your expectations.Training and development provide both the company as a whole and the individual employees with benefits that make the cost and time a worthwhile investment. Some of the not to be ignored benefits are:
Improved Employee Performance :
An employee who receives the necessary training is better able to perform her job.The training may also build the employee’s confidence because she has a stronger understanding of the industry and the responsibilities of her job. This confidence may push her to perform even better and think of new ideas that help her excel. Continuous training also keeps your employees on the cutting edge of industry developments. Employees who are competent and on top of changing industry standards help your company hold a position as a leader and strong competitor within the industry.
Employees with access to training and development programs have the advantage over employees in other companies who are left to seek out training opportunities on their own. The investment in training that a company makes shows the employees they are valued. The training creates a supportive workplace. Employees may gain access to the training they wouldn’t have otherwise known about or sought out themselves. Employees who feel appreciated and challenged through training opportunities may feel more satisfaction toward their jobs.
- Increased productivity and adherence to quality standards
- Increasing organizational stability and flexibility
- Reduced supervision and direction
- Economical use of resources & Heightened morale
- Increase in productivity & Better industrial relations
- Role & career flexibility & Reduced learning time
- Future manpower needs
- Reduced accidents at workplace
- Globalization & speed of change
- New appraisal techniques
- Reduction of errors & accidents
- Reduction of turnover and absenteeism
Step 1: Organisation Training Needs
Any company delving into training and development of its workforce should first learn how to properly identify and assess training needs. This is the single most important thing that helps executives to address the gaps between the existing training and training which will be required in the future
The role of each staff member and what you want them to achieve and contribute to your business; and. whether each staff member has the skills and knowledge to do what you need them to do. If not, identify what skills or knowledge they need and put in place training in these areas to upskill them.
This is the first step where you analyse future skills needs due to changes in business factors. Upcoming changes in the industry may also influence the training needs of your business. We help you identify the need for understanding the current and future requirement in the organisation.
Step 2 : Identify Individual Need
A successful training needs analysis will identify those who need training and what kind of training is needed.
At this stage, we help you examine the training needs of each employee. This information is most often gathered from performance reviews and appraisal systems. We create structured processes to identify the skill gap using questionnaire, survey, individual and group interviews etc.
We can conduct an individual needs analysis by following the steps below.
Step 1: Determine the Desired Business Outcomes as identified in the process above.
Step 2: Link Desired Business Outcomes With Employee skills.
Step 3: Identify Trainable Competencies
Step 4: Evaluate Competencies
Step 5: Determine Performance Gaps
Step 6: Prioritize Training area
Step 3: Design Training material
Training materials are a necessary part of any program or activity that involves knowledge acquisition and retention. After understanding team learning objectives , our team of experts designs a training material customised based on your team.
Step 4: Delivery of Training
The nature of training delivery is important to the overall success of both employees and employers. The training process takes place at the time of joining or to enhances the skills, knowledge and capabilities of the employee in a particular job. The training process is often continuous as new skills and techniques are required in business. Properly trained employees waste less time, money and resources
Step 5: Training Evaluation
Evaluating training effectiveness is important because it sheds light on four areas.
- Whether the training program met learner’s needs?
- Evaluation of knowledge imparted to learners.
- How has it changed the scenario in the organisation environment
- What was the change in organisation in respect to various departments
Training in Finance
Having a staff with financial acumen—including understanding financial reports, the ability to accurately document transactions, and project management skills—improves a company’s efficiency and gives the management and staff a greater control of their own finances. The training program specially designed by our team reinforce the sound financial principles set forth by our experienced team.
Finance for Non-Finance Professionals:
The Finance for Non-Financial Managers course will explain and demonstrate concepts that individuals at all levels of the business need to understand, in order to ensure their organisation’s survival and long-term success. All managers have to understand finance. And the higher up the organisation you go, the more important it is to have a financial understanding of data. It’s the only way to feel confident and knowledgeable in high-level meetings.
Topics Covered are:
- Basics of Finance and Accounts
- Financial Statements
- Financial Ratios
We also create a customised program in finance based on your organisational needs.
Duration : 1 to 2 days or 3 to 4 months
You’ll be giving your employees useful life skills they can apply beyond your organisation. By helping your employees learn about managing their finances like retirement planning, investments etc, they will create a great financial plan in place for themselves and reduce their money-induced stress.This will, in turn, improve productivity at business front.
Topics covered :
- Types of Investment
- Why and How much of Insurance
- Retirement Planning
- Specific purpose investment
- Investment Allocation simplified
- How to live financially stress-free life
Duration : 1 to 2 days or 3 to 4 months
Written Communication Skills:
This helps participants with their writing skills, grammar, vocabulary and formatting. Good communication is essential for the smooth running of a company and communication skills training can help both your employees and organisation to scale up to the next level.
1. Formation of email Writing
2. Subject lines
3. Report Writing
4. Tone of Written communication
5. Importance of Structure in writing
Duration : 1 to 2 days
For a business, the telephone is often the first and only point of contact with some customers. It can potentially make or break a business relationship. That is why it is critical that employees get trained to handle calls.
As the first impression is the lasting one, and often such first impression is created over the phone, the customer will make an estimation of your business by how his or her conversation went with your employee. If you are able to wow them then you have given them a reason and a confidence to do business with you.
- How to sound confident yet natural
- Listening vs hearing
- Greeting professionally
- Using the right tone
- How to overcome challenges in telephonic conversation
- Handling Inquiries
- Handling complaints and objections
- Transferring calls
- Smiling on calls