Training cuts cost businesses productivity

Businesses spending less on training are putting their company at risk of lower engagement and productivity, according to new reports. Management and talent specialist Alexander Mann Solutions is urging managers and employers to invest in training options to encourage development, boost morale and even support talent retention.

The statement has been issued following new statistics showing that 42% of CEOs currently have no intentions to invest in new training schemes over the next three years. Just 21% of employees admitted they felt motivated by their management, with concerns that leaders aren’t making the most out of their workforce.

Specialists at Alexander Mann Solutions are advising bosses to maintain training and development programmes to ensure companies are making the most out of a happy and fulfilled workplace. The team reminds employers that not only can workers benefit from learning new skills, but training can help keep staff mentally prepared and encouraged for the work ahead. Without regular training, Alexander Mann Solutions is warning that other companies will pick up the slack should you fall behind.

“Falling behind with training and development is not an option for many firms as this may leave them vulnerable to being overtaken by competitors,” said Stephanie Gillingham, Head of ER, Reward, Talent & Development at Alexander Mann Solutions. “Employee engagement is crucial to ensuring the growth of a successful business and its workforce.

“The need for an agile and adaptable workforce has never been greater and consequently the skills this requires need to be continually updated and improved upon to drive business growth.”

The art of ‘upskilling’ and encouraging homegrown talent is a great way of retaining talent in a job climate where even company culture can lead to workers moving jobs.

“The increased quality of work, diversification of skills and boost to morale, is a price worth paying for maintaining a satisfied and productive workforce.”