The world is constantly evolving, and companies need to keep up with these changes to stay competitive and relevant.
In business, organizations must ensure their employees are equipped with the tools to help the company thrive and adapt to change.
According to the Association for Talent Development, “Companies that offer comprehensive training programs have 218% higher income per employee than companies without formalized training.” Moreover, “these companies also enjoy a 24% higher profit margin than those who spend less on training.”
Without a doubt, proper training and onboarding processes are two of the most effective elements that any business can implement to help increase productivity.
This training will not only help a company’s bottom line but can help with employee retention so organizations can see a return on their training investment.
According to a LinkedIn Learning Report, 94% of workers would stay longer at a company if it invested in their learning and development. Supporting professional development and learning is a significant benefit for both employees and employers.
Equipping employees with the skills they need to do their job and adapt to change is only part of the approach.
Below are a couple tips that organizations can implement to prepare their employees for change.
1. Share the company’s overarching vision and goals
Change is inevitable, but it’s also something that employees can find uncomfortable and are hesitant to embrace. Companies that want to succeed need to share the vision and goals they have for the organization with their employees.
When leaders share their vision for the future of a company or even a team, they should include short, medium and long-term goals so employees can share in the excitement and know they are part of that future.
Be sure to give employees details, not just a high-level overview of the company’s goals. Share what the vision is, how the company plans to carry it out, how it will affect your organization and how employees will be involved in the process.
2. Communication is key
Communication is key in any professional relationship. In fact, 86% of employees and executives cite the lack of effective collaboration and communication as the main causes for workplace failures.
Frequent and open communication, whether in the form of a one-on-one conversation, phone call, team meeting or even email, ensures that everyone is informed and on the same page with the company’s plans moving forward. Open communication allows leaders to relay what’s happening and for employees to share their thoughts, opinions and provide feedback.
Moreover, research shows that effective and proper communication within an organization increases productivity, improves employee retention and facilitates trust.
Offering learning opportunities like micro-credentials, courses or workshops are cost-effective and time-effective ways to support employee learning and growth.
Many of GUS Canada’s brands, including University Canada West, Canadian College of Technology and Business, Trebas Institute and Toronto School of Management, offer micro-credentials and courses applicable to the business industry today, covering relevant topics, like social media marketing, consulting, software development, human resources, analytics and more. These courses are excellent learning opportunities for employees to hone their current skills or learn new ones.