Pub. 9 2021 Issue 2

Issue 2. 2021 9 THE EDULOGUE By Beth Parker, Director of Education, Utah Bankers Association The Value of Training Outstanding organizations realize how vital training is to their success and continue to invest in it, even in challenging times. Despite the cost of training to employers, if consistent, the return on investment is substantial. Training improves employees’ skills and provides the knowledge and tools needed to face the many changes in the industry. This, in turn, increases the profits and efficiency of the organization. If an employee’s performance appraisal suggests the need for improvement on a particular subject or skill, training can help satisfy that need. On the f lip side, when an employee is identified as a top performer, training may help prepare them to move into a higher role and take on additional responsibilities. Training employees helps them feel like the company is invested in them. With continued education, employees learn new skills and improve their abilities. They become better workers, feel like more productive members of the organization and have increased morale. The importance of training your employees – both new and experienced – cannot be overemphasized. If you still doubt, here’s the synopsis: Improved employee performance – Competent employees on top of changing industry standards help your company hold a position as a leader and strong competitor within the industry. Improved employee satisfaction and morale – Employees who feel appreciated and challenged through training opportunities feel more satisfaction toward their jobs. Addressing weaknesses – Providing the necessary training creates an overall knowledgeable staff with employees who can take over for one another as needed, work on teams or work independently without constant help and supervision from others. Increased productivity – Productivity usually increases when a company implements consistent training. Increased innovation – Ongoing training and upskilling of the workforce can encourage creativity. New ideas can be formed as a direct result of training and development. Reduced employee turnover – Recruitment costs go down due to staff retention. The Utah Bankers Association provides members with various timely, high- quality and cost-effective educational offerings to help bankers from entry-level through executive management develop their professional and technical skills. Check regularly for upcoming programs and events and watch for future “Spotlight on Training” emails coming once monthly to your inbox. n