Companies worldwide spend huge sums of money on training and developing employees. In the United States alone, companies spent over $83 billion on employee training in 2019.
Employee training has numerous benefits for companies, which include:
- Greater productivity
- Reduced safety, legal, and regulatory risks
- Greater customer satisfaction
- Greater employee engagement and retention
Even medium and small companies invest hundreds of thousands or even millions of dollars per year on employee training because they see it as an investment in the growth and success of their organizations.