The training and development of employees isn’t something that companies have paid too much attention to in the past, but that has begun to shift in earnest towards an employee-centric model. Those companies who have taken the leap and empowered their staff with ongoing education initiatives are already reaping the benefits of a more skilled and engaged workforce. That’s why we prepared some curious training statistics that show the upside of giving employees the tools to further their knowledge and master their respective craft.
In what has become an increasingly employee-centric working world, organizations across the US have begun significantly investing in their members’ training. The evolution of corporate training and development has eventually led us to the point where very few companies don’t offer some kind of plan for their employees’ education and integration.
(Guide 2 Research)
Instructor-led training sessions in a classroom-style setting seem to be the most popular method for small companies to train and educate their staff. Employee training statistics show there is real value, particularly in smaller companies, in a more intimate learning environment that encourages staff participation. These companies usually employ a combination of blended learning with a virtual classroom, and with the arrival of the pandemic, it’s as popular as it’s ever been.
(Guide 2 Research)
For those small companies that haven’t seen the clear benefits of regular and comprehensive training programs, only 12 minutes of training twice a year are set aside for staff education and integration. Corporate training statistics also indicate that only 6 minutes are dedicated within companies of 100-500 personnel. Whether this is because of corporate training prices or companies doubting these training programs’ efficacy is anyone’s guess.
That in itself is an alarming statistic, but it is perhaps even more so that as many as 4% of all employees leave their jobs on the very first day. Training and development statistics have shown just how valuable a good onboarding experience can be, and it has the potential to not only have staff feeling like they belong but immediately giving a boost to their productivity. Setting the tone for someone’s stay is vital to maintaining low turnover rates and ensuring their stay with the company is successful.
Retaining talent is a big deal for companies of any size, and some contributing factors can lead to an early exit. Employees who can’t see a clear path of progress aligned with their own ambitions will leave a company without even thinking twice about it. Training and employee retention statistics show that a third of employee turnover could be brought down by supportive management offering development opportunities to staff. The average training cost per employee can outweigh any potential cost incurred due to turnover by improving retention and building a culture of development.
Though the training industry has seen significant investment in recent years, this money has largely been spent in the wrong areas. This is reflected in the 70% of employees who believe they don’t have the full quota of necessary skills to perform their jobs, according to vocational training statistics. The future of training and development lies in the hands of the decision-makers and to what degree they are willing to experiment with and encourage innovative programs that allow employees to reach their potential.
(Harvard Business Review)
The drive towards embracing new technical skills and ideas is a concept shared by most of the working world and is vital to housing happy and productive staff. Employee development statistics show that 68% of employees see training and development as a top priority. The fact that so many people want to improve their craft and better themselves within an organization should be viewed positively.
There is absolutely no reason that companies shouldn’t be embracing their employees’ desire to be more equipped to fulfill their role to the best of their ability. Rather than being a barrier to the development of their staff, companies can reap the rewards of a workforce that is eager to learn and add value to the organization. Employee learning and development statistics conclusively show that nearly 80% of the workforce would embrace an opportunity to grow professionally.
Every company needs to be able to adapt to technological changes, but 70% of senior figures claim they don’t have faith in their organization’s ability to deal with them. Companies need to be dynamic in their approach and educate their staff accordingly to remain agile as technologies continue to develop.
And yet, only 56% of employees report learning new skills and staying engaged. Engagement drives productivity, and if companies are serious about their bottom line and the happiness of their workforce, then formalized training programs should be sought out.
Most of this profit is attributed to the amount of money saved on turnover numbers and staff retention, which on its own is a good enough reason for those who don’t have training programs to introduce them sharply. Corporate training methods are constantly evolving, and staying on top of trends is just as important as implementing them in the first place. Corporate training and development statistics further show that outfits that offer comprehensive training enjoy 218% higher income per employee than those that don’t.
As much as 70% of all employees say that their developmental prospects play a vital role in their decision whether to leave a company. That is a considerable number of people leaving their positions because of a lack of opportunities within the organization and contributing heavily to turnover rates. Ensuring that employees have the space to grow should be standard practice for companies looking to improve their bottom line. Learning and development statistics further show that companies that offer professional development opportunities to their employees enjoy 34% higher retention rates.
Employee training has the numbers to back up the claim that it develops staff’s skillsets and broadens their knowledge. It further improves retention rates and boosts profits.
Employee training is becoming an increasingly popular and vital part of job satisfaction in the modern working world. Though different size businesses prioritize training to different degrees, the average suggests each employee receives around 42 hours.
Training can take on many guises and often will relate to the specific industry in which the company is involved. But in general terms, training industry statistics show that the four types of training most commonly practiced are:
The most popular type of employee training is orientation. This training focuses on integrating and welcoming new arrivals in the first weeks of their job. This type of training is generally not specific to corporate learning and development but rather a way of inducting staff into the company culture.
Employee training statistics indicate there are a few ways to get an accurate measure of what a training program will cost your company. One such calculation is formulated as total yearly salary budget X 1-3% = total training budget, with the 1% to 3% accounting for industry specifics.
Training companies reportedly generate upward of $330 billion annually, with that number expected to increase to around $417 billion by 2027. With more and more employees demanding opportunities to learn on the job, it’s a quickly growing sector, as further confirmed by training and development industry statistics.
According to reports, companies in 2020 spent an average of $1,111 per employee across all industries. Of course, these numbers are subject to change based on the company size and the number of people they employ. That number is actually down $175 from the prior year’s average.
Training statistics show the average cost of training new employees will always depend on the nature of the role and size of the company, but on average, $1,252 is spent inducting and developing staff.