Upskilling Your Workforce - it’s all about the 3 R’s!
When was the last time you invested in your team’s ongoing professional development?
We’re often faced with the excuse that continual professional development can be pricey, especially when you have a large workforce, and as a result CPD is not something maintained on a regular basis. Whilst this can be the case for some businesses, nothing can be more expensive than a high turnover of staff. This blog aims to provide you with all of the information you need to give upskilling your workforce the green light by honing in on our 3 R’s to business success…
The cost of employee turnover is increasingly high —as much as 2.5 times an employee’s salary depending on the role. Not to mention other “soft costs”: lowered productivity, decreased engagement, training costs and cultural impact.
Upskilling, or sometimes referred to as re-skilling, is a far more cost efficient solution to replacing staff which focuses on creating a more well-rounded, cross-trained workforce. In turn this increases overall team effectiveness and accelerates business performance. But it doesn’t just boost your bottom line, upskilling improves retention too, which is the first of our important 3 “R’s”.
Employees are your most valuable business asset so retaining top talent is key. Employees who have regular training and development opportunities are happier in their roles and have a brighter outlook on their future with the company. As a result they have a far greater chance of staying and growing with the company if they feel you truly care about them. It’s as simple as that, but often so forgotten.
Today’s world presents far more challenges in the workplace than we’ve had to deal with before. That’s why our Lean Management and Mental Health courses are geared up perfectly for addressing the need for a hybrid working environment, post-COVID.
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