Investing in emerging technology for your company keeps you competitive and protects your market share. Unfortunately, many companies shortsightedly fail to make the additional investment in workforce training on using new digital tools. The results are delays in productivity as staffers adapt to a new way of working as well as delayed ROI on your company’s financial investment in new technology.
As a CIO, it’s imperative to ensure your company’s workforce has the training necessary to fully implement your technology vision and optimize digital investments.
Employee development enhances technical investments
There are many benefits to investing in workforce development, especially since user adoption and user experience are key factors for measuring success rates of new technology implementation. Jockeying for a bit of additional budget to properly train your company’s workers on a new technology tool should be a no brainer, but we suggest the following three tips to justify the expense.
Training builds loyalty
Most workers welcome acquiring additional skills and see the training effort as an acknowledgement of their contributions to your company’s well being. If you’re offering the training as a peer user, you’re presenting yourself (or your corporate trainer) as both the expert on the material and the go-to person for help and on-going support.
Training creates a competitive edge
Every worker wants to improve their marketability, so providing them with training affords the opportunity to do that. It also enhances productivity value to your company, which in turn enhances the value of the financial investment in the training itself.
Training reduces rehiring costs
With increased mobility and access to a global network of available jobs, many workers will continuously new opportunities. A lack of or adequate training should not contribute to high employee turnover rates. Losing employees prematurely (before retirement) costs the company; not only the recruiting, hiring and onboarding costs incurred when bringing them on, but also those incurred by having to replace them.
Discerning the need for workforce development
Simply knowing that “advanced training” is needed does little to support your case when the need arises, which workers will need what type of additional skills, or how the training fits into the overall scheme of corporate goals and plans. Accordingly, many companies begin their workforce development strategy by doing a thorough assessment of what skills their workforce currently has, what skills workers will need in the short term, and what skills will be necessary to remain competitive into the future.
Your assessment should look inward at your existing and incoming technology and also outward toward emerging trends in technology for your industry. When based on the hard data revealed by your assessment, your future planning will be integrated with your current workforce capacities.
With so many significant changes in how the world does business, from 3-D printing to the Internet of Things to Big Data and analytics, your options for how to build your company’s future are almost unlimited.
As you contemplate the technology needed to carry your organization forward, consider also identifying exactly where you want to go and how your workers will help you get there. When all corporate elements are working from a common foundation, you’ll maximize both your technology and staffing.