Most organizations choose to define employee benefits as a type of non-wage based compensation offered to employees such as health insurance. Most employee benefits have a monetary value, although they do not represent additional income. Some other examples of benefits include retirement plan matching, business discounts on products, and cellphone reimbursement. Typically, professional development is not considered an employee benefit because it does not have a monetary value, but it could represent a potential rise in salary or an increase in marketability. Organizations that pay attention to the professional development of their employees will find that it yields a high return on investment to the organization too.
Benefits to the Organization
All employees need to be trained when they begin a new job. This initial training is called onboarding. It is a time where new employees become familiar with an organization’s policies and procedures. It is also when employees get to know their new job. For some organizations, onboarding is the last time they will be in training until a major change is made to a policy or procedure. In an organization that values professional development, onboarding is only the beginning and training is more than just a way to disseminate information.
Continuous professional development of employees leads to higher efficiency, less waste of resources, and greater productivity. Employees that are encouraged to attend training that interest them often share what they have learned with their co-workers. This creates collaboration among employees. Employees who are able to expand their skills also have the ability to take on a greater variety of work. Continuous training and development of employees will allow innovative organizations to keep up with trends in the marketplace.
How is Professional Development an Employee Benefit?
Employees benefit from professional development because it is a chance to expand their skillset. Employees usually feel that expanding their skillset will give them opportunities for advancement, salary increases, or even just a chance to take on more challenging work. Continuous professional development of employees is a contributor to increased job satisfaction and lower employee turnover. A strong professional development program can also attract new employees who seek to improve their skills too.
Online Training Solution
Organizations that are looking for a simple way to offer training as an employee benefit can turn to an online learning platform. A learning management system is a type of online learning platform. It is a software program that stores courses, keeps track of employee’s progress, and gives trainers the option to report on assessment data. This simple solution gives trainers the chance to deliver training to large groups at once or to store courses for individual employees to take at their own pace. This makes it easy for trainers to create programs to address employees’ interest in expanding a specific skillset.
If you are interested in offering professional development opportunities as an employee benefit in your organization, then you should check out Trakstar Learn.
Learn is an award-winning and user-friendly learning management system. Request a demonstration of the Learn platform. See for yourself how easy the Trakstar Learn LMS is to use.