Making the business case for employee training can be tough, with many organisations looking to cut costs during uncertain economic times.
Showing the ROI on employee training is one of the quickest and most effective ways to get this point across and get the green light for a new training programme.
Equip yourself with these statistics to make the case for upskilling your colleagues:
- The Association for Talent Development (ATD) found that companies offering a formalised training programme increase their profitability per employee by218 per cent
- They also found that these companies had a 24 per cent higher profit margin when compared with others spending less on training.
How training Impacts the bottom line
These windfalls in profit come from a higher level of engagement and lower staff turnover. 85 per cent of employees report that they’re not engaged at work; training can be the push they need to become engaged once more.
When this happens, the average workplace reports a 41 per cent decrease in sick days and an increase of 17 per cent in productivity.
By developing existing members of staff, organisations also benefit from growing their own talent with specific skills that are important to their industry.
Breaking barriers to further development
While training offers many advantages to an organisation, the biggest barrier to workplace learning is fitting this into the busy work week.
Self-paced online learning solves this problem. It can fulfil the need for staff development while mitigating disruption to employee’s work and home schedules.
The significant ROI from online training allows you to build more productive, profitable and engaged teams.
ICS Learn’s award-winning online courses are delivered in partnership with globally recognised professional bodies. As the world’s most experienced online learning provider, they offer fully flexible qualifications in HR, L&D, management, marketing and more.