Everyone needs to upgrade their
skills if they wish to survive and thrive in this dynamic economy. Certain
statistics also revealed that employees often choose to work in organizations
that provide enough space and opportunities for them to grow.
Businesses benefit from investing
in Training
and Capacity Building. It leads to boosted profit, employee engagement,
enhanced productivity, and better employee retention rates. Furthermore, it
will also make them expert in their roles and positively impact the overall
output of your business.
What Do
Statistics Say?
According to a report by Short
lister, about 76% of employees intend to stay at a company that offers
continuous development and learning. In addition to this, 46% of candidates
consider a company that offers a scope of development. Given below are some of
the other statistics on employee training:
- About 74% of employees prefer quarterly training to stay employed.
- 68% of employees wish to learn at work.
- 59% of employees claim that training boosts their overall job performance.
- Gallup asserts that companies become 17% more productive when their employees get the necessary training.
Why Does Your
Business Need a Capacity Building Program?
There are many benefits of
training and building the capacity of your employees. It is not uncommon for
organizations to overlook this aspect but it has a great impact on the overall
output. Given below are some of the most common benefits that capacity-building
programs can offer:
Boosted Skill Set: IBM researchers found that about half of the
skills acquired by employees are depleted in 5 years, while more technical
skills require an upgrade in just 2.5 years. Their studies further revealed
that nearly 30% of the skills are lost in a year because of a lack of
implementation, illustrating the importance of training and capacity-building
programs.
Enhanced Productivity and
Performance: With
increased productivity comes increased confidence. When you train your
employees, it gives them a better understanding of their job role followed by
the relevant information and skills to complete that job. This will have an
overall positive impact on your business.
Encourages Innovation: Investing in capacity building fosters a
culture of innovation within your organization. Employees who are well-trained
and confident in their abilities are more likely to think creatively and
propose new ideas. This environment of continuous learning and development
encourages your team to identify and implement innovative solutions to business
challenges. Ultimately, this drives growth and ensures that your business
remains adaptable in an ever-changing market.
Increases Competitiveness: In today's fast-paced business landscape,
staying competitive is crucial. A capacity-building program helps your business
remain agile and responsive to market demands. By continuously developing your
team's skills, you ensure that your business is always at the forefront of
industry trends and best practices. This not only helps in retaining your
market position but also opens up new opportunities for growth and expansion.
Boosts Employee Morale and
Retention: Employees
who feel supported in their professional development are more likely to be
engaged and satisfied with their jobs. A capacity-building program shows your
commitment to their growth, leading to higher morale and better retention
rates. When employees are motivated and loyal, they contribute positively to
the workplace culture and are more productive, directly benefiting your
business.
Supports Sustainable Growth: For long-term success, businesses need a
strong foundation of skilled and knowledgeable employees. A capacity-building
program lays this foundation by continuously improving the capabilities of your
team. This not only prepares your business for future challenges but also
ensures sustainable growth over time. By investing in your people, you're
investing in the future of your business.
In conclusion, investing in
training and capacity-building programs is not just a strategic move; it is
essential for the long-term success of your business. Find the right training
and capacity-building service provider to ensure high-quality skills for your
employees. Globtier Infotech, one of the most renowned providers, also believes
in the transformative power of continuous learning and skill development. By
empowering your employees with the knowledge and tools they need to excel, you
foster a culture of innovation, enhance productivity, and ensure that your
business remains competitive in a rapidly evolving market.
Source: https://globtierinfotech.com/why-is-training-and-capacity-building-essential-for-your-business/