FS Alliance > About > Benefits of Training

“What if we train them and they leave”

“What if we don’t train them and they stay”

Richard Branson: “Train people well enough so they can leave, treat them well enough so they don’t want to”

Peter Honey: “Give a man a fish and you feed him for a day. Teach a man to fish and you feed him for a lifetime”

1. Boost productivity

By ensuring that employees are well-trained and knowledgeable, productivity can be significantly enhanced. Top-performing businesses have long recognised the value of staff training for improving quality, delivering superior service, minimising unproductive activities, and ultimately, increasing profits.

2. Minimise employee turnover

Investing in employee development demonstrates your commitment to enhancing their skills. Consequently, employees are more likely to stay longer and contribute to your business’s success. Recruiting new staff can be costly, time-consuming, and risky; therefore, it is preferable to train and retain your best talent initially. Technical, management, and administrative training courses can be as valuable as a salary increase in challenging times.

3. Reduce supervision requirements

Untrained or underqualified staff can strain management resources and divert top performers from critical tasks. By providing adequate training, you can free up managers’ time and enable employees to work independently. To avoid over-reliance on a single person, ensure that at least one alternate team member receives training to a suitable level.

4. Enhance adaptability to new technologies

Staying current with technology is crucial. Ensuring that your employees are technologically proficient will not only improve their job performance but also keep your company competitive. Demonstrating training in new technology usage can differentiate your business from others.

5. Improve safety and reduce work-related injuries or illnesses

Health and safety training can decrease the occurrence of workplace injuries, protecting both employees and employers from potential litigation. Inform your insurance broker of any accredited WH&S training to aid them in negotiating better quotes with underwriters.

6. Maintain employee credentials and certifications

Keeping employees’ qualifications and credentials updated is more cost-effective than renewing them after expiry. Regular training can help maintain these hard-earned credentials.

7. Support employees in meeting new responsibilities

Australian WHS legislation mandates employers to provide a safe workplace. Companies should avoid promoting employees to new positions without equipping them with the necessary skills to fulfil their new roles effectively. Training for newly promoted employees benefits both the company, in terms of legal compliance, and the employee, in terms of productivity and efficiency.

8. Enhance job satisfaction, morale, and motivation among employees

A content workforce is a productive one. Training improves employee well-being, leading to reduced absenteeism, fewer mistakes, and lower stress levels in the workplace – all of which contribute to healthier company culture.

9. Elevate company image

Public relations, reputation, and company perception are increasingly important in today’s business landscape. Showcasing your commitment to training can enhance your company’s prestige, making it an attractive place to work and collaborate.

10. Strengthen risk management through training in essential areas

Training in critical areas, such as WHS, sexual harassment, diversity, and best practices, can mitigate risks associated with employment and potential legal claims. The average cost of defending a legal claim can be substantial, potentially crippling smaller businesses.