Skills identification and development are crucial to ensuring enterprises remain viable and retain their competitive edge domestically and internationally.
There are long term and recognisable productivity, profitability and human capital benefits for organisations that embrace skill recognition.
Business benefits
Regardless of the size or type of an industry or business, training can have a measurable impact on performance and the bottom line.
Research shows that productivity increases while training takes place. Staff who receive formal training can be up to 230 per cent more productive than untrained colleagues who are working in the same role. Source: Smith A., 2001, Return on Investment in Training: Research Readings NCVER (PDF, 359kb)
Staff retention
Training increases staff retention which is a significant cost saving, as the loss of one competent person can be the equivalent of one year's pay and benefits.
Improved quality and productivity
Training that meets both staff and employer needs can increase the quality, efficiency and flexibility of a business’s services and products.
The flow-on effect
The benefits of training in one area can flow through to all levels of an organisation. Over time, training will boost the bottom line and reduce costs by decreasing:
wasted time and materials
maintenance costs of machinery and equipment
workplace accidents, leading to lower insurance premiums
recruitment costs through the internal promotion of skilled staff
absenteeism.
Additional benefits
As well as impacting on business profit margins, training can improve:
staff morale and satisfaction
'soft skills' such as inter-staff communication and leadership
time management
customer satisfaction.
Read about the different pathways to skills development and recognition:
For further information on training in the forest, wood, paper and timber products industry, please contact your state-based Industry Training Advisory Bodies (ITABs) below.
