The Benefits of Investing in Employee’s Training and Development
I recently passed the CPHR BC & Yukon Chartered Professionals in Human Resources National Knowledge Exam and I have my employer to thank (cheers XenCALL!). Passing the exam means that I am on the path to getting my CPHR designation which is a nationally recognized level of achievement within the field of human resources – register to write the National Knowledge Exam in the fall HERE. It reflects a conviction that the professional practice of human resources management can safeguard the interests of employers, employees, and the business community – so it’s a pretty big deal. In truth, this was one of the major factors in me taking the job, and I’ve come to realize there are two reasons why employers must invest in employees’ careers.
1. Attract Better Talent
When you feel valued, word gets around, and having a reputation as a company that invests in professional development will not only help set you apart from other companies when hiring, but it will also attract candidates who are motivated to learn. Employees that take advantage of your professional development programs are the ones that will make the biggest difference; they care about impact, and leveraging themselves to drive your business growth. According to Gallup research, millennials want jobs to be development opportunities. Their strong desire for development is perhaps the greatest differentiator between them and all other generations in the workplace. An impressive 87% of millenials rate professional career growth as the most important facet of a job. Fundamentally, they think about jobs as opportunities to learn and grow.
2. Increase Engagement & Reduce Turnover
Employers need to understand that employees are prioritizing their own marketability when making career decisions. Using the latest resume trend only gets you so far, and if you want to make it past the initial test, you need to have some solid qualifications – and then find the right template to highlight them. When employees know that their employer is willing to provide them with learning opportunities, it encourages them to stay loyal to the organization. LinkedIn’s 2018 Workplace Learning Report found that a whopping 94% of employees would stay with a company longer if it invested in their career. This year, we sent ten employees to the Sandler Training Institute to gain valuable insight and advice from expert trainers. Not only did this foster a culture of productivity and growth, but now our sales team feels valued and respected, and as a result there’s been zero turnover!
3. Take Advantage of Educational Grants
There are multiple funding streams that employers can take advantage of to make the magic happen. The B.C Employer Training Grant is a federal incentive program that helps employers reduce the costs associated with third-party employee training programs. However, support varies from province to province. Most streams cover up to 80% of employee training costs with the purpose being to improve employees’ skill sets. Though application deadlines may vary, here they are in more detail:
Foundational Training Stream – this stream will fund training for low-skilled employees (those without certification or high school diplomas) who are currently underemployed, including full-time, part-time, casual or seasonal in low-skilled occupations. Check what qualifies under skill level C or D of the National Occupational Classification (NOC).
Technical Skills Training Stream – this stream encourages employers to train current or new employees in technical skills in response to automation and technological advancements, such as new software, technology or machinery – a perfect program for start-ups and growing tech companies!
Workforce Training Stream – this stream aids employers in upgrading their employees’ skills and developing their workforce. It’s mostly designed to support training that aligns with an employer’s business needs. For example, advanced occupational training, leadership, management, and soft skills training would fall under this category.
There’s no shortage of perks at the company I work for, and they really do invest in employee growth – which ultimately shows that they care. After one year of continuous employment, you are eligible to apply to the Education Fund, which I’ll be forever grateful for. If you want to further your career, feel free to head over to our website and check out our open positions.
Victoria is a CPHR Candidate, an HR Generalist at Xencall and a part-time HR consultant at UnboundHR. She volunteers her time as Toastmasters VP of Education, and serves as a Board Director to a Women’s Health Clinic non-profit organization. Acting as a real champion for diversity and inclusion she combines a spirit of divergent thinking and background in non-profit to leverage opportunities for corporate social giving in the tech sector. Victoria believes that employees prefer to work for organizations that align with their own core values and through that mindset she designs socially conscious programs that integrate with her organization’s operations.
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