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TITLE

Dispite Cutbacks, Companies Still Need a Knowledgeable Workforce

TOPIC

Training - General

   

According to a study from the American Society for Training and Development (ASTD), firms that invested an average of $1,595 per employee in training experienced a 24% higher gross profit margin than those firms that invested $128 per employee.

"The training landscape is shifting, in part because of the rapid rate of change many firms have been experiencing," says ASTD Director of Research, Mark Van Buren on the organization's web site. "Training, like any other financial investment, is not immune to changing times. Now, more than ever, companiesm must continually demonstrate the value and worth of their investments in training."

Most managers and employees recougnize the benefits of increased productivity and efficiency provided by highly skilled and trained employees, according to Dale Lee, ISA's Director of Education and Member Services. "The pace of today's technological changes, the competative nature of the market, and the need for employees to take on new jobs and learn new skills because of a smaller workforce, all fuel the need for training," Lee says.

Training helps employees develop new skills and improve the productivity and efficiency of both the employee and the company, according to Lee.

Training also impacts a company's ability to retain talented employees.

A study by ASTD and the Society for Human Resources Management called "Recruiting and Retaining Employees: Using Training and Education in the War for Talent," indicates that workers list training as one of the most important benefits companies must offer to attract and retain talent.

   

AUTHOR

Jack Moore, Editor

PUBLICATION

ISA News & Views

DATE

August, 2001

WEB SITE

www.isa.org
   
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