Why Invest in Training?

“An employer once said, ‘What if I train my people and they leave?’ I say, what if you don’t train them and they stay?”

– Evan Kirshenbaum

Training is an investment in your business. The more skills your team has, the more benefit to your organization as a whole. Investing in training sees:

  1. Increased Productivity
    • Companies that invest in training and development have a 24% higher profit margin as per research by the ATD.
  2. Employee Retention
    • 94% of employees said they would stay at a company longer if it invested in their career development (LinkedIn Workplace Learning Report)
    • Organizations with a strong learning culture have 30-50% higher employee retention rates (Deloitte Insights)
  3. Job Satisfaction
    • 68% of employees believe training and development is important workplace policy (LinkedIn Workplace Learning Report)
  4. Adaptability
    • Continuous training helps employees adapt to changes in technology and industry practices, with 74% of employees ready to reskill to remain employable. (World Economic Forum)
    • Think about large shifts in current technology, such as Microsoft Copilot and how it will change the landscape of work.
  5. Reduction in Turnover Costs
    • Think of the cost of replacing an employee. Costs can run up to 200% of their annual salary. Training can significantly reduce turnover rates and mitigate this cost! (Society for Human Resource Management)
    • Effective training programs can lead to a 53% reduction in employee turnover. (Forbes)
  6. Compliance and Risk Management

When training is looked at as an investment instead of as a cost, this perspective shift can help re-prioritize training.