Apart from rising inflation, the biggest pain point for companies is the shortage of labor. Regardless of size and industry, businesses are struggling to find qualified talent to fill vacant positions. A recent study shows there are currently 11.4 million job openings in the United States, but only approximately six million unemployed workers.
The dearth of new talent is pushing organizations to address the skill gap within their current workforce. The goal being to not only optimize the talent on hand, but also retain these workers by helping them grow their skill set.
Which brings us to corporate training programs.
Traditionally viewed as an employment perk, corporate training is now vital to overcoming the labor shortage and maintaining a vibrant workforce. It’s no longer a nice-to-have, but a must-do. The good news is Incorporating professional training into your corporate culture delivers long-term ROI to your business’ landscape.
Here are three corporate training benefits that not only protect your business from the labor shortage, but also bring lasting value to your overall business success.
#1 Improve Employee Loyalty and Reduce Attrition Rate
Research shows employees are loyal to companies that invest in their growth and advancement. Providing corporate training courses shows your workers the company values them. This is a morale booster and a loyalty-builder. Delivering corporate training programs also boosts employee engagement which lowers turnover and reduces your hiring costs; training current employees is cheaper than bringing in new hires. .
#2 Bridging the Skills Gap
As the business landscape evolves and technology advances, employers are confronted with an ever-widening skill gap in the workforce. Coupled with the labor shortage, the skill gap ups the competition for qualified talent.
Online corporate training courses help bridge the skill gap by upskilling/reskilling your current workers with the latest developments and market trends. Professional training allows you to fill talent gaps in-house thereby reducing hiring costs and saving significant amounts of time. It also maximizes your team’s talent and empowers them with new knowledge and skills.
The long-term benefit for your business? A digitally savvy team dedicated to keeping your business moving forward.
#3 Retain Employee Knowledge and Avoid Productivity Loss
Losing an employee is more than just one less body in the office. That person takes a wealth of company knowledge with them. That’s a huge loss in terms of continuity and productivity. Investing in corporate training helps retain employees and ensures key skill sets are spread among multiple people. Professional training helps you optimize the workers you already employ and keep them – and your company – on a forward trajectory.
Corporate training programs improve employee engagement, loyalty, and commitment; three vital pillars of maintaining a healthy employee retention rate. Less turnover equals less need to hire which keeps you out of the labor shortage fray. Corporate IT training programs online makes it easy to bring this opportunity into your landscape quickly and easily.
CCS Learning Academy is one of the best corporate training companies in the market. We offer a full range of training programs that help businesses upskill/reskill their workforce in the technical and non-technical skills needed to be effective in the workplace. Contact us to learn more about our corporate training courses. We’ll help you bridge the skill gap with ease.