6 Important statistics that Prove the Value of assessments in Employee Training
Table of Contents
In order to understand the value of employee assessments in training, it is important to first understand some statistics on employee productivity. According to the U.S. Bureau of Labor Statistics, businesses lose an estimated $450 billion annually due to employee productivity losses. This number is staggering, and points to the importance of effective employee training. However, many businesses struggle to effectively train their employees due, in part, to a lack of accurate and reliable information on employee abilities and needs.
Assessments can help businesses overcome this obstacle by providing data-driven feedback that helps trainers focus their efforts on the areas where employees need the most support. When used effectively, assessments can help improve employee productivity and save businesses money.
Why are assessments important during employee training?
For new hires:
Making good hiring decisions helps an organization be more productive and have less turnover. When people are hired who do not fit well with the company, it can have a negative effect on employee morale and how much time management spends on them. It can also be wasteful to spend training and development dollars on someone who is not going to stay with the company for exceptionally long. That is why using pre-employment testing and new screening tools and technology can help HR professionals make better decisions about who to hire more quickly.
For upskilling existing workforce:
Employee training is a crucial part of any organization. It helps employees learn new skills, keep up with changing technologies, and improve overall job performance. Assessments can help you determine whether employees are retaining the information they are being taught and whether they are able to apply it in a real-world setting. So, it is an important aspect to any L&D professional to be aware of the benefits of using assessments in their learning and development strategy.
What are the major advantages of Employee training:
- Employee Training is Critical for Business Success
A study by the American Society for Training and Development found that businesses that invest in employee training see a 218% higher income per employee than businesses that do not invest in employee training. Furthermore, businesses that offer comprehensive employee training programs have 50% less turnover than businesses that do not offer employee training.
- Assessments Improve Employee Training Programs
One way to improve the effectiveness of employee training programs is to use assessments to measure employees’ knowledge and skills before and after they complete the training program. A study by the Institute for Corporate Productivity found that using assessments can lead to a 26% improvement in employees’ job performance.
- Assessments Help Employees Retain Information
Another benefit of using assessments in employee training is that they help employees retain information. A study by the University of Pennsylvania found that students who were assessed on their knowledge immediately after completing a course retained more information than those who were not assessed.
- Assessments Help Employees Transfer Learning/knowledge to the Workplace
Assessments can also help employees transfer learning from the classroom to the workplace. A study by The Conference Board found that employees who are assessed on their job performance are more likely to transfer learning to their job and see improved job performance as a result.
- Assessments Help Identify Training Gaps
Assessments can also be used to identify gaps in employees’ knowledge and skills. By identifying these gaps, businesses can tailor their employee training programs to better meet the needs of their employees.
- Assessments Help Evaluate Training Programs
Finally, assessments can be used to evaluate the effectiveness of employee training programs. By measuring employees’ knowledge and skills before and after they complete a training program, businesses can determine whether the program was successful in helping employees improve their job performance
Here are 6 statistics that prove the value of assessments in employee training:
Though the process of conducting a training needs analysis can be daunting, it is well worth the effort to gain a return on investment in your organization’s training and development program. Fortunately, there are many assessment tools available that can help simplify this process. The Yaksha assessment platform is one such tool that can provide data-driven feedback to trainers so they can focus their efforts on the areas where employees need the most support. When used effectively, assessments like these can improve employee productivity and save businesses money.
Are you looking for a way to measure the effectiveness of your current training and development program? If so, consider trying Yaksha assessment platform.