{"id":14536,"date":"2019-12-29T11:48:37","date_gmt":"2019-12-29T11:48:37","guid":{"rendered":"https:\/\/staging.liquid-themes.com\/hownow\/?p=14536"},"modified":"2021-06-30T02:20:57","modified_gmt":"2021-06-30T02:20:57","slug":"why-not-upskilling-your-team-is-more-expensive-than-upskilling-them","status":"publish","type":"post","link":"https:\/\/staging.liquid-themes.com\/hownow\/blog\/why-not-upskilling-your-team-is-more-expensive-than-upskilling-them\/","title":{"rendered":"Why not upskilling your team is more expensive than upskilling them"},"content":{"rendered":"

We all know that upskilling our workforce is one of the quickest and easiest ways to see a return on investment in employees. Not only will your people be happier, more motivated and invested in your business, they will have a wider skillset that enriches your offering.<\/span><\/p>\n

In fact, companies that offer training programs have on average a 218% higher income per employee, according to the <\/span>Association For Talent Development<\/span><\/a>, meaning that it\u2019s almost certain that your company will benefit financially from upskilling it\u2019s people. Plus, according to <\/span>ClearCompany<\/span><\/a> 76% of employees are looking to upskill, so you\u2019ll be able to keep your people happy too.<\/span><\/p>\n

Why Are People Still Reluctant To Upskill Their Workforce?<\/b><\/p>\n

It begs the question then – why are companies still in doubt about whether to upskill their teams? Well, many businesses question the initial cost of training and how long it takes to see a return. Effectively, they view training as a loss, rather than an investment.<\/span><\/p>\n

This attitude is pretty damaging, as whilst the financial return of upskilling your people<\/a> may take a couple of months the return is instant in terms of employee engagement, motivation and loyalty. This in itself offers a huge financial benefit in ensuring that you keep your most talented people.<\/span><\/p>\n

Upskilling To Increase Employee Engagement<\/b><\/p>\n

Often, employers fall into the trap of thinking that money is the only way to engage, motivate and retain their best workers. However, that is simply not true.\u00a0<\/span><\/p>\n

A recent <\/span>GallUp study<\/span><\/a> reported that <\/span>20% of workers claimed that development opportunities and training would engage them more than increased financial compensation. Plus, companies with high employee engagement are <\/span>12% more profitable and 18%<\/span><\/a> more productive than their competitors.<\/span><\/p>\n

When you couple that information with the fact that the cost of replacing a disengaged employee who quits is <\/span>reported <\/span><\/a>to be around 6-9 months of their salary, the instant return of upskilling suddenly looks a lot more attractive.<\/span><\/p>\n

It\u2019s Not All About Engagement Though\u2026<\/b><\/p>\n

Upping employee engagement and loyalty is a huge reason for upskilling your workforce, but it\u2019s not the only one. O<\/span>nce employees have got to grips with their learning and can fully implement it within the workplace, your business offering will increase and you\u2019ll be able to stay ahead of the curve.<\/span><\/p>\n

So many businesses fall down because they don\u2019t prepare for changes in their industry and business in general, and therefore don\u2019t have the talent available when they need it. For this reason, it\u2019s never too early to start training your employees for the future.<\/span><\/p>\n

How To Future-Proof Your Business<\/b><\/p>\n

Digital Learning is the way forward in terms of future-proofing your business. By investing in online learning, you\u2019ll be able to define what skills you need and empower your team with the skills they need to succeed.<\/span><\/p>\n

With <\/span>AI powered digital learning<\/span><\/a>, you can be sure that AI will deliver the right content to the right person at the right time, so that you\u2019re never left behind. With personalised learning, and the most up to date training you\u2019ll be able to put your teams collective knowledge together to drive results.<\/span><\/p>\n

How Will A Company Know That Training Is Working?<\/b><\/p>\n

Employee wellbeing, engagement and loyalty should be instantly recognisable. Most workplaces notice an instant rejuvenation as employees are appreciative of the investment you\u2019re making in them. Learning is exciting, and that excitement is usually translated into good energy in the workplace.<\/span><\/p>\n

Alongside that, there are some easy ways that you can tell if your company is benefiting from <\/span><\/i>digital learning<\/span><\/i><\/a>:\u00a0<\/span><\/i><\/p>\n