As a digital marketing agency, we are aware of constant changes within the technology industry, with more innovative products released each year. In a report by Capgemini and LinkedIn, they discovered that 54% of companies feel they have lost competitive advantage, due to a shortage of digital talent and knowledge. This is why ensuring your employees are regularly upskilled is so important. An organisation is only as good as the people who work for them.
Still not convinced? Below we have compiled an extensive list on exactly why you should be upskilling your staff:
Improves employee retention:
With the recent millennial population entering the working world, the stigma against job changing has slowly been fading. It is now thought that employees change jobs every three years. This is mainly due to the constant search for higher pay and increased knowledge. Additionally, a survey by Robert Half and Enactus revealed that 91% of ‘Generation Z’ workers view professional training as an important factor when deciding upon an employer.
By ensuring you provide opportunities for personal growth and upskilling within your company, you lower the chance of high
employee turnover. This saves your business a large sum of money in the long run, as a recent ACAS report discovered that the average cost of replacing an employee can reach up to £30,000.
Discovers new talents within your employees:
By providing training in new and existing skills, you may have the chance to uncover undiscovered skills within your staff. This, in turn, provides your company with a wider base of talent to offer to your customers.
Boosts employee morale:
By providing training for your employees, you aren’t just investing in your business, but them as people. This allows them to feel valued, growing more loyal to your company and feeling happy and fulfilled within their role.
The benefits of a happy employee are numerous, including better decision-making skills, higher levels of creativity and increased productivity.
Provides strong ROI:
Although upskilling your employees takes time and money, it provides a strong Return on Investment. If you compare the cost and time needed to train an already existing employee with that of replacing and inducting them with a new employee, the difference is incredibly significant. Alongside this, the cost of training your employee will be given back to you in the long term through the benefits they provide to the business.
Ensuring your customers are satisfied and receive an excellent user experience will be at the heart of your business. An upskilled workforce will be better equipped to provide your clients with the services they need.
Here at Formation Media, we strongly believe in supplying our employees with frequent chances to learn. This shines through in the high quality, bespoke services we provide. To learn more about what we offer, click here.
Like the sound of our work ethic and want to become part of the team? We are currently hiring! View our vacancies here.