New Year Realisations - The hidden costs of untrained workforces

New Year Realisations - The hidden costs of untrained workforces

The hidden costs of untrained workforces

By Andy Hart, Learning and Development Advisor for Professional Academy

New research reveals that 37% of workers are planning to leave their current jobs in 2015, a dramatic increase from 2014 (19%) and 2013 (13%). With 59% of those interviewed stating “more opportunity for progression” and 27% “more opportunity for training/development” as the thing they want most from a new position - it has never been more important for organisations to understand the hidden costs of untrained workforces...

With the challenge of finding skilled workers, budget cuts and companies running leaner than ever, many businesses may be experiencing the hidden costs of an untrained workforce – without even knowing it.

Such hidden costs can include:

  • Poor productivity

  • Missed deadlines

  • Poor customer retention

  • Poor employee morale

  • Poor employee retention

  • High employee turnover

Employee turnover and retirements are playing a role in the changing demographic of the workforce too. Many of the companies Professional Academy is talking to report that it’s increasingly challenging to replace workers who retire with qualified employees, and to retain associated internal corporate IQ.

By investing in training, companies can reap benefits including:

  • Improved productivity
  • Improved customer retention
  • Improved employee morale, engagement and retention
  • Improved productivity  
  • Improved profitability
  • Improved internal corporate IQ

January is always a popular time for career planning. The level of enquiries we’ve received this year already demonstrates that many employers are looking for proven ways to manage their talent pipelines, making sure staff have opportunities to develop and progress.

Are you? We can help. Contact us for an obligation free discussion.

In our next newsletter I will look at how professional training can help brilliant practitioners develop a leader’s mindset and become exceptional managers. We’ll also share with you a case study of our work with BP.

 

Andy Hart - L&D AdvisorAndy Hart is a Learning & Development Advisor with Professional Academy. Working with companies across the UK to deliver tailored bespoke people-focused training in Sales, Management, Marketing and Customer Service.

If you would like to connect with Andy please feel free to contact him directly via LinkedIn. 


Return