Perks: Training & Skills Development

Training and skills development programs enable employees to either upgrade their current skill set or to learn entirely new skills. These training programs are usually offered by the organization employing an individual. However, depending on your jurisdiction, there may also be public programs set up to achieve the same objectives.

In order to provide effective programs, an organization’s management must have a good understanding of the specific skills that the organization may require in the future. This requires them to not only project the firm’s future needs, but also stay up to date with the latest equipment and technology. In addition, the organization’s management must create a positive and safe environment for on the job learning.

Advantages to Employees

There are many different advantages associated with training and skills development programs. The most obvious benefit for an employee is that they are given the opportunity to update their skills at no personal cost. Depending on the type of program that is offered, they can either become more knowledgeable about the firm they are employed with, or they can learn a completely new skill altogether. Regardless of the type of program, learning new skills will make the employee more valuable. This may act as a safeguard against potential lay-offs since it will be costly to the firm to retrain new potential employees.

When an employee’s skill level increases due to training and skills development programs the employee’s salary will also tend to increase as well. The reason for this is because they are now a more valuable employee and more costly to replace. When the individual’s capabilities increase, the organization will usually need to offer a higher wage to ensure that the employee stays with the firm rather than taking their newly acquired skills to a competing firm.

Finally, training and skills development programs will also benefit employees by increasing their efficiency. This is a direct benefit to an employee because it may mean that they can perform the same tasks in a shorter period of time. If an individual is employed under a commission or bonus structure, this can mean an increase in earnings.

Advantages to Employers

Employers benefit from training and skills development programs because it increases employee morale and commitment to the company. When management is willing to invest time and money on their labour force, it sends the positive message to employees that they are valued. This could also improve employee motivation and efficiency, which will as a result increase the organization’s financial gain.

When a firm is seen investing in its employees, this also enhances the firm’s image by sending a message that it cares about its workers, and that it also has highly skilled employees with updated industry knowledge.

In addition, offering the programs can also help an organization become more innovative. By training employees with the most up to date processes and equipment, it will be easier to identify product flaws as well as any inefficiencies that may be