As an organization, and as an individual team, one of the most important investments you can make is in your employees’ training and development.
This is true for both new members of your team and long-time employees. For those new to your company, a strong employee training program, like the one at Shamrock Trading Corporation, helps ensure they have all the tools they need to achieve success. And programs that focus on continued development help ensure your workforce continues to be motivated and productive.
As the business landscape continues to evolve, the importance of strong employee training programs will only continue to grow. Below, we explain why and discuss strategies top organizations use to successfully implement effective programs.
Why Invest in Employee Training and Development?
Having strong employee training programs is essential to shaping the future of any team or organization. On one hand, they can help reduce the ramp-up time for new employees and increase their level of performance, allowing them to hit the ground running when starting their new role. For both new and long-time employees, it can also help increase their level of engagement and allow teams to identify and grow leaders from within their own ranks.
Beyond these benefits, employee training programs are also important because of the internal challenges they can help mitigate. Inadequate training, a sustained lack of engagement and few opportunities for growth and advancement are among the leading reasons why people leave organizations.
With many organizations operating on tight margins and lacking resources, it’s become less common to invest significantly in employee training and development programs. However, employers that do make that investment can see major benefits. In addition to increasing productivity, teams and organizations can also enhance their ability to attract and retain talent in the future, while also potentially saving more in the long run due to decreased employee turnover.
Potential Challenges to Overcome
Just about every business offers some level of training for their new employees, but the effectiveness of these training programs can vary wildly. In fact, one survey found that up to 70 percent of employees feel they lack the skills needed in their roles, while another noted that only one quarter of employees believed training improved their performance.
The business landscape is constantly evolving, and so is the workforce itself. That means in order to remain relevant, an organization’s training programs need to grow and change over time as well. Not only will this help individuals stay engaged with their training, but it can also help foster a forward-thinking organizational culture. Teams and organizations need to be mindful of their potential pain points when developing employee training programs.
Aspects of a Strong Employee Training Program
For any organization, it’s important to take the time to assess and get feedback from current employees to identify which areas to focus on before implementing any strategies. Where are the current knowledge gaps on the team? Do previous employees feel like they lacked training in a specific area when they were just starting their role? Organizations with strong employee training programs will find that answering these questions are beneficial when implementing new training strategies.
Beyond that, it's crucial to establish accessible methods for trainings to ensure everyone at an organization can benefit. For example, if an organization has a dispersed workforce and can’t do classroom training in-person, an online training program will need to be developed. Further, different styles might be worth considering, like group training rather than individual training, depending on the needs of the employees and the information being presented.
5 Key Parts of an Employee Training Program
We have put together five key aspects to look out for in any strong employee training program.
Identifying Goals and Success Metrics
A forward-thinking organization should continually assess current training strategies, as well as the current knowledge gaps within their teams, which should help them determine what their training needs are.
Specific competencies should be identified for development and the goals of the training program should be clearly identified. Key performance indicators (KPIs) should be established that can help measure the success of the employees and the training program as a whole.
Finding Methods and Approaches That Fit
Every organization is different, and so are the teams within them. People have many different learning styles, and it’s important to incorporate these styles into any strong employee training program.
Some organizations will have an older, more experienced workforce, while others are more multigenerational. Other teams will benefit from a more hands-on, individualized approach instead of large group training. It’s important to find organizations that account for these differences to find the appropriate approach, materials and delivery for their particular team’s training program.
Developing an Effective and Targeted Program
A good training program should have an outline including the specific content that will be covered. The content should cover the most important and relevant information and aim to strengthen the weak points within the team and organization.
It’s also important that the content is reevaluated regularly and is made adaptable. This helps ensure that the information provided is relevant as the business landscape continues to evolve. Additionally, the content should be clear enough to ensure that employees know what the program entails, how results will be measured and whether there will be any certifications involved.
Ensuring Training is Engaging and Motivating
With employee training, it's important to remember that no program is "one-size-fits-all. There will likely be modified approaches that are personalized to all individuals in the program. A good program should utilize multiple formats and activities to keep trainees engaged and help them better retain information.
Also, it’s important that the program is using the correct learning principles for the audience at hand. The program should treat employees as experienced workers and make sure the information they learn has real-world applications.
Making Sure Leadership is Involved
Team managers and other organizational leaders should be actively involved in the training process. From strategizing and implementation to delivery and assessment, employee training and development is a collaborative effort that, when done effectively, can positively shape the future of an organization.
Strong employee training programs should ensure early on that the most important areas for improvement are covered during training. Additionally, they should make sure to consistently analyze the results, communicate with employees and ask for feedback to help evaluate the effectiveness of the program and inform whether any changes are needed.
Grow with Shamrock!
A strong employee training program is vital for the success of both organizations and their employees. Forward-thinking professionals should ensure they are in environments that will account for their growth and success. At Shamrock Trading Corporation, we have continued to prioritize employee training because we understand the mutual benefits it brings to our employees and our overall business alike.
Shamrock Trading Corporation has a dedicated training team that greets employees on their first day to make sure they are set up for their new role, receive an introduction to the company and industry, get to know their team and begin to integrate into the overall organization. With further opportunities for learning through ongoing trainings, we make sure we're part of our employees continued growth.
If you're interested in finding a new job at a great place with a great training program and even better people, explore our open positions.