10 reasons why employee training is important

Training is not a cost, but an investment.

There is a famous conversation which highlights the importance of investing in employee training, which goes something like this:

Person A asks “What if we spend money on training our employees and they leave?”
Person B replies “What if we don’t and they stay?!”

This article highlights 10 reasons why employee training is a vital part of a successful business.

1. Safety first. The right training can ensure your employees are using equipment correctly and observing correct health and safety practices in the workplace

2. The right training gives employees the necessary skills and knowledge to carry out their work to the best of their ability, increasing productivity and quality of work

3. Whether it is training, methods of working or legislation – things continuously change in the work place. Regular training means your business and your employees don’t get left behind and they stay working at their best, both today and in the future

4. A driving factor behind employee engagement is training and development: improving the performance of your staff, increasing staff retention and helping you to keep hold of your ‘star players’

5. Training and development can give your employees an increased and more diverse skills set, meaning they can take on additional responsibilities while supporting their own career progression

6. Highly skilled employees can help your organisation deliver higher levels of customer satisfaction – boosting your reputation in the marketplace and helping to secure greater customer retention

7. In addition to external training, internal training is a pivotal way to share best practice within your organisation, develop common working procedures and strengthen internal relationships

8. A number of job roles require that employees have specific training and qualifications by law – for example the Driver CPC required by drivers of vehicles of 3.5T gvw and above. This type of training means your employees have the right skills to operate effectively and legally

9. Not only can training help you retain your best employees, but by being an employer that demonstrates a commitment to staff development makes your organisation more attractive when it comes to recruiting top talent

10. Training your employees can give you a genuine competitive advantage over your competition. The only way you can be better than your competitors is by your employees being better than the rest and training is a direct route to achieving this.

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Walmart to make first direct pitch to big corporate ad buyers at New York event.
The event marks Walmart’s first effort to grow its nascent advertising business and heralds the retailer’s rising challenge to online ad leaders Alphabet’s Google, Facebook and Amazon.
Walmart will meet large consumer goods companies and advertising firms for the first time in New York next week to pitch its advertising business, as the world’s largest retailer aims to rev up its website and stores as a platform for other companies to reach customers.

The event marks Walmart’s first effort to grow its nascent advertising business and heralds the retailer’s rising challenge to online ad leaders Alphabet’s Google, Facebook and Amazon.

The event, called "5260," is named after a Walmart store near the retailer’s hometown of Bentonville, Arkansas, which is known for being a test lab for retail innovation, Walmart told Reuters.

It is likely to be attended by hundreds of companies ranging from Procter & Gamble, Unilever and Coca Cola to Mattel, Glaxosmithkline and NBC Universal, multiple sources familiar with the matter told Reuters. The country’s top marketing and advertising firms are also likely to be in attendance, the sources, who did not wish to be named, added. Walmart declined to name the attendees.

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Walmart’s pitch will be simple: encourage some of the biggest advertisers to shift their spending to Walmart and away from rivals like Google, Facebook and Amazon. And Walmart says that its massive customer base and data on what shoppers purchase give it a compelling edge.

As consumer behavior has shifted, a growing number of shoppers now begin their product searches on Amazon instead of Google, forcing companies to move their ad budgets to Amazon – a significant change that bodes well for Walmart.

Walmart heralded its ambitions at its shareholder meeting last year when Chief Executive Doug McMillon said, "We have a tiny ad business … It could be bigger."

Since then, Walmart has bought its website advertising in-house, consolidated ad sales for its stores and website under the Walmart Media Group and acquired a startup called Polymorph Labs to boost the business.

The move could help Walmart shore up sales and margins at a time when revenue is likely to come under stress from tariffs on Chinese imports, and margins are under pressure from its billions of dollars in e-commerce investments.

Stefanie Jay, vice president and general manager of Walmart Media Group, told Reuters the company’s "core differentiator" is that its ad offerings are informed not just by online purchase behavior and intent but also by data on what people are buying in stores before and after they see an ad, something its online rivals are unable to see.

Eighty-seven percent of shopping in the United States still happens in stores, she said.

Over 300 million customers visit Walmart’s stores every month, and over 300 million shopped with Walmart online as recently as January, drawing in more shoppers than Amazon, Google and Facebook, according to research firms. "Advertisers are always looking for that complete picture to better understand where they should spend their ad dollars," Jay said.

Walmart’s ad offerings will include sponsored search and display ads, which drive awareness and engagement. Jay said Walmart will add video ads this year.

Along with Jay, other senior Walmart executives attending the event include Steve Bratspies, chief merchandising officer; Janey Whiteside, chief customer officer; and Charles Redfield, executive vice president of food for Walmart U.S.

The opportunity for Walmart will be capitalizing on the share Google is losing, consultants said. Although spending on Google search ads continues to grow and is expected to be up 17% this year to $40 billion, Google’s market share is expected to slip to 71% by 2020 as Amazon grows, according to research firm Marketer.

Even so, Walmart faces an uphill task.

Beyond search ads, Amazon offers display ads, TV-like ads in live sports telecasts and targeted ads to people as they travel around the web.

Amazon’s global digital ad revenue is expected to rise by more than 52% in 2019 to reach $14.03 billion, according to eMarketer. Pivotal Research estimates it will reach $38 billion by 2023.

In the United States, Amazon is the third-largest digital ad publisher behind Google and Facebook, which combined control about 60% of U.S. online ad spending. Amazon’s share is 5.5%. See MoreSee Less

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