Offering skills training is as valuable as a promotion

by HCA25 Sep 2013

Employer-provided training has the same effect on job satisfaction as a 17.7% net wage increase, according to a study. What’s more, job satisfaction emerged as one of the most important factors of overall life satisfaction and happiness. Can HR afford not to invest in employee skills training?

The research was conducted by the University of Madeira in Spain, and canvassed the opinions of more than 5,000 workers. The paper, The shadow value of employer-provided training, reported that short-term training spells are particularly beneficial to job-satisfaction levels, and the flow-on effects of receiving new skills training has many and varied results which are critical to HR. These results include:
 

  • Increased productivity
  • Decreased rates of absenteeism
  • Improved rate of retention

Additionally, separate research findings recently revealed that the number one reason employees leave their jobs is because they do not feel challenged or motivated at work.

More than 1,400 Australian employees participated in a survey by Macro Recruitment, and the results revealed that the most pressing issues for HR were related to non-challenging work environments and employer flexibility. “The celebration of wins and the immediate engagement of a new challenging and visible project [are the] key to maintaining momentum with motivated staff,” Daryl Keeley from Macro Recruitment said. The survey canvassed the reasons why current job seekers had left their previous job, and the key findings included:
 

  • 17% said they left their previous role lacked challenges
  • 14% left due to poor company visibility and business communication
  • 9% cited poor work-life balance and job location

 

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