According to an article on the ILM website, studies have shown that it is vital for businesses to offer adequate training to employees. The Learning and Skills Council have advised that training can improve not only the productivity and efficiency of workers, but also staff retention rates.
Jaine Clarke, director of communications at the Learning and Skills Council, claimed that "progressive" companies are able to understand the importance of training staff, which can help them to outstrip their rivals in the marketplace and survive economic difficulties.
"Training is key if businesses are to prosper and grow - whatever the economic circumstances," she remarked.
Statistics from Evaluation of Train to Gain showed that 43% of workers received pay rises as a result of training, while 42% of employers claimed it boosted their productivity and profitability, Ms Clarke added.
Learning strategy director Kevin Lowell wrote for Personnel Today last month that companies should not cut back on their training budgets as a result of the credit crunch.








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