Of all the budget meetings you’ve attended, what’s the first line item to get cut without argument? Sure everyone haggles over their department’s budget, but most leaders have no problem when employee education or development funds are on the chopping block.
That’s a huge mistake.
It’s easy to assume that if employees are interested in career development that they just want the company to foot the bill so they can find a better job elsewhere. But you know what they say about assuming — you’re often wrong! Here’s why you should invest in professional training for your employees.
Increase team skill level without higher salaries
Surveys show that IT professionals with CompTIA certifications have more knowledge than their more experienced, uncertified peers. It’s entirely likely that this holds true for any professional obtaining a relevant certification, from leadership to project management.
When you pay for employees to get a certification, your team gains more experience without the higher paychecks of more senior people.
But an increase in skill level doesn’t just come down to payroll expenses. You also get immeasurable benefits like:
Skills in current and up-and-coming technologies that will help your organization grow to meet the demands of the future
An edge over competitors who do not educate their workforce
More productive employees
Increased employee loyalty
And speaking of productivity, that one deserves its own section.
More productive employees
There’s been a lot of hullabaloo lately over whether employees who work in a physical office are more engaged (and thereby more effective) at their jobs purely because they are in an office with other employees.
But it’s no secret that employees perform better and faster; an American Society for Training and Development (ATSD) study found that companies that offer comprehensive training to their employees earn a 218% higher income per employee than companies that don’t offer comprehensive training. Companies that invest in training also saw a 24% higher profit margin.
Plus, it’s no secret that employees who don’t get opportunities to advance become less motivated, happy, and therefore, less engaged at work.
Employee happiness is crucial to retention. It’s costly to productivity, institutional knowledge, and payroll expenses to have to replace large swathes of your staff every few years (anywhere from 50 to 200% of the employee salary). When employees feel valued and engaged by receiving the chance to nurture their professional development, they’re not just more productive, but they generally have a better attitude, are more likely to share inspiring ideas for improvement, and more likely to want to help the company attract other high performers.
There’s truth in the saying: people don’t leave jobs, they leave managers. Managers who invest in the growth of their teams have higher loyalty and retention.
Reduction in corporate risk
Security-specific training is important organization-wide, but it’s also critical for your IT teams. IT teams are crucial to the bottom line success of their organization. As more employees work remotely from unsecure networks or click through emails without paying attention to what’s in them, IT teams must continually respond to threats and ensure their organization’s infrastructure is compliant and secure.
IT professionals with a CompTIA Security+ certification are 53% more effective at understanding and responding to security threats within 24 hours. So it’s clear that investing in IT team knowledge has clear benefits for the whole organization.
Train your employees today
Providing training for your employees provides clear, measurable, and multitudinous benefits to your organization. It’s easy to get them enrolled in relevant certifications or set up a private class for teams to go together.