It's been said that the number one asset any company can have is the people who work for it. Productive, conscientious workers are an invaluable resource for any business in terms of efficiency, brand reputation, and sustainable growth. 

Of course, new hires must be adequately trained to do their best work. Moreover, a comprehensive onboarding and training process will help organizations retain top talent significantly longer than companies that don't invest in learning and development. Here are a few key reasons why training new hires should be vital to any recruitment strategy. 

Better Job Performance 

It's no secret that proper training helps new hires fully understand their roles and responsibilities and all the tools and processes they need to use. In addition, employee training best practices should explain company culture — e.g., what values the company holds dear, how its leadership is structured, and what standards employees are expected to meet. 

A good training program will help new hires perform their job better, with fewer errors and greater efficiency. 

Faster Time to Productivity 

It's unrealistic to expect any new hire, no matter how qualified, to reach full productivity within the first few days of taking on the new role. Nevertheless, a well-designed training program can help new hires get up to speed more quickly, thus reducing the time it takes for them to become productive members of the team. Since "time is money," the company will gain the most from such an investment in employee development. 

Fewer Compliance Issues 

Many industries have strict regulatory requirements that employees must adhere to. (For example, think of all the HIPAA guidelines that workers in the medical field must follow.) Proper, comprehensive training can help new hires clearly understand these requirements and avoid several potential compliance issues that could result in serious legal or financial consequences. 

Enhanced Company Culture 

Part of a company's culture is how it handles employee training and development. When a training program focuses on the company's values, mission, and culture, new hires can feel more at home with the organization more quickly. 

This aspect of training is essential regarding employee "belonging" (i.e., whether they feel they fit in with the organization). It should be noted that belonging is directly correlated with bottom-line benefits. Interestingly, one study found that high levels of belonging are linked to a 56% increase in job performance, a 50% drop in turnover risk, and a 75% reduction in sick days. For a 10,000-person company, this would equate to an annual savings of more than $52 million! 

Increased Employee Engagement and Retention 

No one likes the feeling of being uncertain or confused on the job. In contrast, comprehensive training helps new hires feel more confident. As a result, it's only logical that these employees would experience higher job satisfaction and engagement. In turn, these factors would increase a company's employee retention rate. 

With diligent, skilled employees becoming more difficult to come by, organizations should do everything in their power to hold on to good workers for as long as possible. Best practices in employee training are key to this objective. For instance, a study from the Society for Human Resource Management (SHRM) found that 69% of employees are more likely to stay with a company for three years if they experience great onboarding. 

Reduced Turnover 

Any growth-oriented company should avoid a high employee churn rate to the extent possible. It's been estimated that the cost of replacing an individual employee can range from one-half to two times the employee's annual salary — and this is a conservative estimate! Businesses should take steps to reduce the amount of turnover within their organization. 

On the one hand, a lack of training — or even a poorly executed training program — can leave new hires feeling unprepared and unsupported. The result is often frustration and increased turnover. On the other hand, a comprehensive training process can set new hires up for success from the very outset of their tenure, thus making it less likely that they'll look for work with a competing business. 

New-Hire Comprehensive Training with Navaquest 

A comprehensive training process is essential for ensuring that new hires have the skills, knowledge, and confidence they need to succeed personally and contribute to the company's overall success. 

Consider working with the experts at Navaquest for sales and marketing training for new hires and current employees. We offer a range of training and coaching, including sales training onboarding for your newest employees.