Companies that don’t offer on-going employee training do so at their peril. One-time job training simply cannot keep employees up-to-date and businesses at peak productivity. Technology, business competitors, and industrial regulations change quickly, and only by having a well-trained workforce can companies keep moving forward.

The benefits of ongoing training are many. We’ve identified eight reasons companies and employees alike should embrace continued training.

Keep Pace with Industry Changes

Industry regulations change regularly, especially in maintenance and plant management. Employee procedures deemed safe by one edition of regulations may be seen as serious violations in the next edition, leaving you open to significant fines. Continuous training ensures your employees—and facility—are in compliance with OSHA, EPA, and other regulatory bodies.

Technological Changes

We live in an age of near-continuous technological innovation, where equipment and the knowledge to run it can quickly become obsolete. Offering training as technology changes allows your team to perform at peak efficiency, whether they’re working with newly-installed equipment or retrofitting older models.

The Price of Competitiveness is Constant Improvement

Partly because technology moves so quickly, no company can afford to stand still. A new competitor with up-to-date technology and staff who know how to use it can quickly pose a serious threat to a business. Keeping employees trained in the latest advances helps you maintain or improve your position in the market.

Maintain Employee Skill Levels

Continued training isn’t just about improving employee skills—it’s also about maintaining them. Skills that aren’t used get rusty, and knowledge learned only once is easily forgotten. Regular refresher courses keep your staff’s skill levels sharp.

Improving Skills Improves Productivity

Training new skills and refreshing old ones leaves employees able to do their jobs more efficiently. The result is an increase in productivity, improving your bottom line.

Boost Morale

Companies that offer continued training to employees make it clear they consider their workforce a valuable investment. This alone can improve employee morale, as can learning new skills and becoming more proficient at work. Continued training reduces employee turnover rates and lowers the risk competitors will steal your best employees with offers of training incentives.

Attract New Hires

Training incentives are an important consideration for new hires, especially younger employees who view training, quite correctly, as an investment in their careers. Companies known for continued training are more likely to attract the best and brightest in their field.

Promote from Within

While continued training attracts new hires, it also makes it less likely you’ll have to recruit from outside the company. Well-trained internal hires are a known factor, and have existing knowledge of the company new hires lack. This feeds back into morale—when employees see peers promoted internally, they know the potential for a better job lies in the company—not with its competitors.