In the last article in our series on Learning and Professional Development, we'll be discussing employee productivity and the direct impact learning and professional development have on this part of your business.
If you've missed the previous three entries in our Learning and Professional Development series, you check them out here:
What is Employee Productivity?
According to the Global Journal of Commerce and Management Perspective, Employee productivity is the measure of output per unit of input economically and the log of net sales over total employees. Employee production is measured differently throughout various companies or departments within each company. If you're a retail company, you will likely evaluate purely on sales. If you are a customer service department, you may be measured by the number of calls, emails, or chats you handle, your customer satisfaction scores, and the speed with which you deal with customer inquiries. Employee production is the key to earning revenue regardless of how you measure it.
The Facts
Did you know that surveys on workforce mobility reveal that, on average, it takes around eight months for a new hire to reach total productivity after starting a job? Investing in training employees on decision making, teamwork, problem-solving, interpersonal relations, and other professional skills has favorable impacts on the organization's level of growth, as well as positively impacting the performance of the employees. When employees receive training and professional development, they are given the tools to become more resourceful to handle their job responsibilities effectively and grow into other job roles.
Training Cycle
In the figure below, we see the relationship cycle developed by Rohan and Madhumita in 2012 in a study on the impacts of learning and professional development. Illustrated, you can see that when you offer training to employees, their productivity increases, leading to more revenue. When revenue increases, you can invest more of your budget into effectively training employees. This cycle is an exceptional representation of the impact training and development have on companies because it shows that training and professional development can influence many areas and departments.
Takeaways
Investing in training and professional development for employees can have a considerable influence on your company. Whether you need to attract top talent, develop leaders, or increase your revenue gains, it all starts with training. Well-trained leaders engage employees, engaged employees are more productive, and higher productivity equals an increase in ROI. The formula is quite simple. However, getting started is the hard part. United Training can assist in creating a training plan for your team so you can begin to reap the rewards of a professional development program. Our experienced instructors are more than capable of growing your team's professional skills while also developing your next wave of leaders.
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