Survey shows workforce training can increase revenue

A learning management software can help companies increase revenue by 20 percent.

The state of the economy can often depend on the competency of the companies. With reports showing that consumer confidence is down, many businesses may have to step up their abilities to produce quality products and services that can help retain customer satisfaction and, therefore, stimulate revenue and growth. In fact, a new survey from Promethean, an economic and business research firm, shows that effectively training a workforce can have numerous positive impacts on the company.

"The findings of the survey confirm that the right training not only leads to increases in productivity and customer satisfaction, but at least a 20 percent jump in profits," said Jim Wynn, the chief education officer at Promethean. "Skills training is not just a growth issue, but a vital component for companies to surviving the recession. The challenge is that fewer employees are devoting adequate resources to training yet the benefits of training are hard to ignore."

According to the survey, companies with a more-efficient and better-trained workforce can increase profits by 20 percent or more, with customer satisfaction and employee productivity going up by 5 percent or more.

Also, many employees felt that their organizations or employers need to improve their workforce training processes. Two-fifths said that training at their company is not beneficial at improving worker innovation and 25 percent believe that employee efficiency and productivity are not benefitting from their current training programs.

As the survey shows, many employers across industries believe that America's current workforce can benefit from more training. This can be effectively and efficiently accomplished with the use of a learning management software or online training software that will allow employers to further the development and growth of their workforces. 


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