Employers run the risk of losing their staff and their businesses by failing to keep promises on training, according to latest research from the Learning and Skills Council.
Findings from the second phase of the ‘People and Profits’ report involving staff in more than 800 small and medium sized companies, indicate that a third of all employees received no training last year.
This is in sharp contrast to the views of employers, who admit that training is vital to business survival. Nine out of ten link their success to the amount of training they provide for their staff.
Yet more than 70 per cent of employees questioned received five days or less training and many complained that their companies were failing to provide training to staff who were promised it in appraisals.
The research also shows that training plays a key role in increased job satisfaction with 90 per cent of employees and 92 per cent of employers agreeing it makes a difference. Two-thirds of employees say they worked harder as a result of learning new skills.
Bryan Sanderson, Learning and Skills Council chairman said: “Employers talk big when it comes to training but are failing to deliver. Nearly three-quarters (74 per cent) of staff questioned said they weren’t actually given specific annual training goals.
“The more that employers invest in training and developing their employees, the more secure and successful their own businesses will be.
“We can help employers to motivate and develop the talents of the UK workforce in order to help them compete more effectively and more confidently at home and abroad.”
The initial phase of research was conducted among employers in April 2001. It showed that businesses investing an extra £50 a week on training increased profits almost twice as fast as those that failed to raise training budgets.
The study also found that:
- companies that increased their annual training budget grew profits by 11.4 per cent – those that didn’t increased profits by only 6.3 per cent
- ‘learning’ businesses increased turnover by 66% more than those who didn’t invest in training – 15 per cent growth, compared to 9 per cent.