Company-paid employee training offers many advantages for both the organization and the employee.
For the employee, company funded education and training ranks among the most valuable long-term benefit offered to employees. It enables the employee to further their education, develop skills, and enhance competencies, invariably translating to all-round development of the individual and better performance at work, which in turn translates to career advancement. All this comes at no additional cost from the employee’s side.
Companies usually sponsor training programs most suited to their needs, and this ensures that their employees obtain specific knowledge or skills required to excel in their jobs. Employees training themselves tend to focus on generic skills that may not be relevant for the company-specific work.
Trained employees require less supervision on the job and gain competence to adapt to new technologies and theories in the workplace. Employees competent in their specific work domain also boost productivity and increase motivation.
Company-paid employee training is also one of the ways to retain talent, and this works in many ways:.
- The company, by sponsoring the training, can enter a contract with the employee requiring them to serve the company for a specified period, thereby reducing employee turnover.
- Even without the company specifying a contract, the trained employee has a moral obligation not to walk out of the company that sponsored his or her education or training.
- The prospect of further paid training encourages the employee to remain with the organization.
Inculcating organizational commitment by sponsoring training becomes an invaluable asset for the company in today’s business environment where human resources has become the major source of competitive advantage and the hunt for talent has reached cut-throat levels.