Training Benefits

Training Benefits

The Benefits of Employee Training and Development

There are numerous benefits of investing in employee training and development, including:

  1. Increased job satisfaction and morale among employees. This has an added benefit of making your company more attractive to prospective employees.
  2. More motivated workers who will in turn tend to increase productivity and spur profits.
  3. More efficient use of workers' time as a result of higher skill levels, combined with a better understanding of the set job functions.
  4. Employees become competent, and therefore feel more confident, self-assured and  well-trained.
  5. Employees will be able to share an influx in the number of ideas, recommendations and suggestions for improving performance, or processes and procedures.
  6. Lower overall employee turnover, and less absenteeism.
  7. Investing in employee training enhances the company image as:
  • a healthy workplace environment.
  • a company that offers its employees the opportunity to grow and meet their individual goals and aspirations
  • a company that values employees and provides them with a sense of stability and makes them feel secured.
  • a company that nurtures its employees
  1. Creating a pool of cross-trained employees can bridge gaps when someone unexpectedly leaves the company - or if they accept a transfer or a promotion.
  2. Doing so tends to create more efficient employees that require less supervision and who need less detailed instructions. This frees management's time for higher value added activities.
  3. Employees who receive international training tend to be better equipped to adapt to changes and challenges facing the credit department in particular, and the company as a whole.


Department managers must determine where training is needed. It is usually a poor use of resources to implement a department-wide generalized training program. Scarce resources [such as a training budget] should be allocated where it is most needed. If the company's training budget permits each employee to be trained, then training should be customized to [a] the needs of the department and [b] to the skills and aptitudes of each employee.



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