Wednesday, November 13, 2019

Training – Investing in Your Employees

Posted by Phil January 30, 2019 3:12pm

Photo Credit: Andriy Popov/123RF

By Philip Gonzalez, Managing Director

 

Training provides employees with a sense of accomplishment, allowing them to expand their knowledge and increase productivity. While there may be certain drawbacks to training, such as process management and monitoring, the benefits of training for individuals and organizations make the cost and time a worthwhile investment.

Training can help improve employee performance and morale

Employees who receive required and desired training will become better performers, as training provides employees with a better understanding of their responsibilities, builds their confidence, and benefits their organization overall. When an employee observes other coworkers performing well, it could motivate them to also pursue additional training in order to provide further, valuable contributions to the organization. In turn, any newly acquired knowledge, skills, and gained confidence may contribute to encouraging employees to help other team members with daily tasks or work challenges.

Investing in employee training will also have a positive effect on employee morale and satisfaction. By offering training to employees, you provide them with opportunities to learn more about their work environment, everyday tasks, coworkers, and how to overcome certain challenges. This helps employees feel valued and appreciated at their company and with their team.

Employee training programs encourage creativity and productivity

Employee training programs may uncover, define, strengthen, and improve individual skills, as well as encourage and promote both independent work and teamwork. It will enhance the organization’s reputation, brand, and profile and make it a target when considering career-changing candidates.

An employee training program also encourages new ideas and creativity. Employees who attend training sessions usually return to the workplace with a renewed sense of purpose and desire to implement new ideas obtained through networking opportunities.

Training also creates greater efficiency in daily tasks, which contributes to greater revenue for the organization because work is completed at a faster pace and deadlines are met while maintaining quality. The increased knowledge and expertise gained from training creates more valuable resources within an organization.

Staff training is critical in the banking industry

Most banks ensure that their staff members are trained on related regulatory requirements of the banking industry. However, beyond the compliance function, human relations and customer service training is also paramount in retail operations such as banking. Training can be very effective in retaining staff, increasing individual and team cooperation and performance, and providing substantially positive, long-term benefits. In order for a training program to be successful, it must be relevant and consistent. Also, keep in mind that training takes on many forms and can be offered in various ways. Here are some examples of different training methods to consider for your financial institution:

  • On-the-job training, such as reading instruction manuals, job shadowing, or practicing with nonconsequential exercises.
  • Off-site training where employees can focus on learning activities outside of the work environment and take advantage of networking opportunities as well.
  • In-house training sessions, which can be presented through seminars, interactive workshops and webinars.
  • A mentor program where a senior-level employee works closely with new hires to coach them through their daily work. This does not need to be too formal and can be a good bonding exercise to encourage employees to ask one another for assistance and communicate any workplace concerns.
  • Group discussions for new employees to review workplace regulations, expectations, and how to handle certain obstacles that may arise.
  • Individualized training, such as self-study or customized training based on specific needs.
  • Blended training where there is a combination of online and classroom learning.

Training employees, both new and experienced, is an important opportunity that should not be ignored or missed!

To learn how P&G Associates can help your institution with its training needs, email WhatsYourRisk@pandgassociates.com or call 877-651-1700.

 

 

 

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Philip Gonzalez Image

Philip Gonzalez

Director of Internal Audit

Philip Gonzalez, Director, has over 40 years of experience in the financial services industry, holding a wide variety of executive and senior management experience at community banks and financial institutions.



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