The ROI of TRAINING
Article to promote government funded training program for employers, Canada-Ontario Job Grant.
Employers are getting the message.
Training is essential to business success.
Depending on the nature and objectives of a business, training may be required for specific purposes or on an on-going basis. A business may require workers to learn how to operate a new piece of equipment or an employer may wish to upgrade the skills of an existing employee for a higher position or to help the business reach specific goals.
In any case, a trained and literate workforce has a direct impact on the bottom line. An employers gains approximately $1.38 for every $1.00 that is invested in training their workforce. .
There are solid reasons why training makes good business sense.
Increased Productivity and Pride in Performance
When employers invest in training their workforce, they save time and money. Employers report increases in production, higher quality output, greater customer satisfaction, better health and safety outcomes, reduced errors and less absenteeism.
In general, when an employee’s role is enhanced through training, the performance of the organization is simultaneously affected. As comprehension and confidence levels rise amongst employees, decision-making abilities strengthen, team performance is improved and employees feel motivated to work toward the objectives of the business.
Boost Employee Morale & Retention
Studies indicate that forty percent of employees who leave their jobs during the first year point to lack of training and development as the key reason for moving on.
People like to learn and they like to know that they are valued. Training helps individuals feel accomplishment, contentment and empowerment – all important aspects of job satisfaction and retention.
Gain a Competitive Edge
As the economy continues to shift, so do the needs of employers. Increasingly, businesses must be positioned to compete in a global market. How employers utilize their most important resource – human capital – will determine their future success.
A skilled workforce can help businesses gain a competitive edge by meeting specific skill requirements and keeping pace with technological advancements. Employers can also utilize training to encourage flexibility, innovation and critical thinking.
Everyone benefits from a trained workforce – employers, workers and the economy.
Unfortunately, many employers recognize the need for training but the cost is simply too expensive. The Canadian government understands the value of a trained work force and the monetary obstacles that businesses face. Through the Canada-Ontario Job Grant, the federal and provincial government are providing direct financial support to help employers invest in training their workforce.
There has never been a government paid training incentive as generous as the Canada-Ontario Job Grant. Employers have an unprecedented opportunity to receive 2/3 of the cost to train employees (up to 10K per person).
Funds for this popular program are still accessible through a local Employment Ontario Service Provider – the Durham Region Unemployed Help Centre. Discover the potential of your workforce! Take advantage of this opportunity while you can!
Visit www.Canada-Ontario.JobGrant.org for details.