Training

Employers: Don’t Learn This Workforce Development Lesson the Hard Way

By

Rod Lott

| Nov 27, 2019

Today’s employee loves to learn. In fact, Gallup research shows that for 87% of millennials, the opportunity to grow and develop is an important consideration when choosing an employer.

Therefore, offering such opportunities will become increasingly important for attracting and retaining these workers. It’s definitely an investment, but a worthwhile one.

As with any venture, you want to ensure you get the most return. But a recent Ernst & Young study suggests when training-related tasks are performed manually instead of digitally, employers will never reap the rewards of a maximum ROI.

The drain to train

Anyone who’s prepared training materials to give to employees knows a lot of paper and printing are involved, not to mention time. But do you know the cost of that task as a whole? Including labor and supplies, it’s $17.89 per session, according to Ernst & Young’s calculations.

Other learning-related tasks in the findings include:

  • enrolling employees in in-person training sessions, $11.85
  • enrolling employees in virtual training sessions, $12.79
  • tracking employees’ completion of required courses, $14.24
  • obtaining or providing a detailed training history, $12.26

The yearning for learning

After examining 41 common HR tasks in the aforementioned study, Ernst & Young identified three areas exhibiting the most potential for increasing efficiencies:

  • onboarding
  • benefits enrollment
  • training/learning

To speak to the latter, it makes sense, because every employee – from new hires to the seasoned executive – needs practical training, in ongoing compliance, in issues specific to your organization and/or industry, and in personal and professional growth and development.

A learning platform that’s part of your HR technology removes those time-consuming, resource-draining manual tasks and allows for consistent instruction. Regardless of your business’s head count or number of physical locations, you can assign a course to your entire workforce with the click of a button.

Through Paycom’s Direct Data Exchange™ tool, you can see in real time how turning a laborious manual process into a streamlined digital one positively impacts your bottom line. Using Ernst & Young data, the tool monitors the associated savings of every HR task completed by the employee, not HR.

It also identifies the efficiencies still up for grabs for every HR task the employee could complete, so you know exactly where to focus efforts to increase ROI, to see your bottom line graduate with honors.

About the Author

Rod Lott

As Paycom’s Editorial Manager, Rod Lott brings more than 25 years of experience in marketing, advertising, branding and journalism. A published author and a graduate of the University of Oklahoma, he has worked with such brands as Blue Cross Blue Shield, Sonic Drive-In and OU.

See more posts by Rod Lott