Workplace training & development is more important than ever. Jack Welch once said, “An organization's ability to learn and translate that learning into action is the ultimate competitive advantage.” We will look at three ways organizations can increase their competitive advantage through employee learning & development.
First, organizations need to reduce risk and consistently ensure 100% compliance. Compliance requirements often demand specific programs (e.g., sexual harassment in California, MSHA competent person, OSHA etc.). Other topics in this area are more about reducing costs (e.g., fraud and shrinkage-related training) or public relations (e.g., crisis response training). Well-designed processes and procedures are important in this area, but training is perhaps the most important aspect of regulatory compliance. Great employers set new standards of corporate responsibility, and employee development is the best way to cultivate a workforce that is knowledgeable and consistent in this area. Organizations that invest in this type of preparation enjoy huge cost savings and reputational benefits.
Second, training in operational efficiency is also essential. Organizations need their people to be knowledgeable about newly-released products, efficient processes, and best practices. They also need to empower their employees with the skills to utilize necessary equipment and systems. Efficiency, quality control, and effective execution are significant areas of differentiation. Continual employee training is crucial in creating an organization that thrives on efficiency.
Engagement and Leadership Skills
Third, employee engagement and leadership/people skills are critical. “If there is a new social contract implicit between employers and employees today, it should be this: You give me your labor, and I will guarantee that as long as you work here, I will give you every opportunity – through either career advancement or training to become more employable, more versatile” (The World is Flat, Thomas L. Friedman, pg.293). In surveys, "development opportunities" is consistently one of the top reasons that talented people stay at great companies. In order to ensure that employees are engaged and your organization is ready to transition to new leadership in the years ahead, leadership development is an essential component that needs focus and investment.
Organizations can achieve a sustainable competitive advantage as they make these three areas of teaching a significant priority. Watch a personalized demo to see how Torch LMS can make your training more engaging and efficient.