The Importance of L&D: 4 Reasons Why Organizations Should Invest in On-The-Job Training
"Learning and development" is more than just a buzz phrase used by HR teams. It improves relationships between employers and employees, reduces staff attrition, and brings other long-term benefits to your organization. There's research to back this up:
- 68% of employees say training and development is an organization's most important policy.
- 76% of employees are searching for career growth opportunities.
- 40% of employees with poor training will leave an organization within the first year.
Learning and development (L&D) technologies like online video let you promote learning outcomes in your organization and provide employees with the required skills for career growth and job enrichment. When you invest in L&D, you can teach employees skills that lead to better organizational outcomes. Some of these outcomes include:
- Improved productivity
- Higher revenue
- Happier employees
Read on to learn more about how video learning and the right video hosting platform can help support your employee development goals.
1) L&D Improves Staff Morale
Your employees are looking for opportunities to learn new skills and further their careers. When you train team members in your organization, you can improve staff morale and invest in their future growth. L&D is a long-term commitment that proves you value your employees.
With improved staff morale comes other benefits for your organization:
- Employees are less likely to leave an organization, and this reduces staff attrition rates.
- Employees more likely to execute their jobs with passion and determination, and this could positively influence sales and customer service.
- Employees are less likely to take time off work, resulting in lower levels of absenteeism in your organization.
2) L&D Reduces Staff Turnover
It's significantly more expensive to hire new team members than retain existing ones. According to one study, the cost of replacing a mid-range manager is around $8,000. That's because of costs associated with entrance interviews, background checks, medical exams, and other recruitment expenses.
Investing in L&D for your existing employees could help reduce employee turnover because trained team members are more likely to stay at your organization. L&D provides employees at all pay levels with a sense of self-worth. Again, you are investing in their future growth, and they will recognize that.
3) L&D Enhances Productivity
Highly trained employees make more productive employees. Team members learn the skills and knowledge required to carry out day-to-day tasks with greater accuracy. Depending on your industry, you should invest in L&D to teach employees about topics such as work ethics, customer service, and health and safety. When team members master these skills, they become more productive.
Research shows L&D is critical to productivity in the workplace. Trained employees are better suited to ever-changing industry demands and are more likely to achieve organizational goals and objectives.
4) L&D Increases Engagement
In addition to performance and productivity, training can increase engagement among team members. Employees receive value from L&D programs that provide opportunities to acquire new skills in their current roles and future ones.
"The primary reason that an employee changes organizations or is dissatisfied with the current organization is that there are fewer development opportunities in the current organization, or the monotonous work," says eLearning Industry. "This issue can be resolved by including learning and development strategies in the organization. Learning and development's significant roles vary from attracting and retaining new talent to developing people’s capabilities."
How Viostream Can Help
Employee training videos are an effective way for you to execute L&D in your organization. You can teach team members new skills and knowledge with the latest video technology. Viostream is an online video platform with learning management system integrations that makes L&D easy. Here are some benefits you should know:
- Dedicated Video Portals: Build secure video playlists for employees or specific teams.
- Analytics: Track the effectiveness of online videos and discover how employees engage with content to improve future offerings.
- Security: Benefit from security features such as in-viewer control, platform encryption, and user management. Control who watches your videos with layered security controls, whitelists, and geographic restrictions.
- Accessibility: Ensure everyone in your team can access your videos with on-demand and automatic subtitles, transcripts, captions, and audio descriptions.
- Branded Video Galleries: Create powerful video galleries and keep all your training content in one place.
- Enhanced Viewing Experience: Benefit from a super-fast HTML5 player with 4K capabilities.
Learning and Development Importance: Final Word
L&D is critical for organizations in almost every niche. When you invest in training, you can improve staff morale, reduce staff turnover, and enhance productivity. For even better learning and development outcomes, use an online video platform like Viostream, which lets you create, manage, and share original training content that informs, educates, and inspires your team.
Are you looking for an online video platform that achieves your learning and development objectives? Drive business results with Viostream, a top streaming platform for organizations like yours. Contact Viostream's support team now to learn more.