Maintaining employee skills is vital for organizations in their drive toward profitable performance and effective risk management. Extremely competitive labor markets, remote and flexible working trends, and increasingly tight margins, are unavoidable realities in today’s business world. Failing to keep employees adequately trained, certified, and up to speed with relevant licenses is sure to have detrimental consequences.
These include punitive fines for non-compliance (IT, healthcare, construction, and manufacturing are particularly at risk here), loss of revenue or productivity, government sanctions, and potential lawsuits.
Workplace accident investigations often reveal that the incident was a direct result of inadequate training. In fact, inexperienced workers are involved in roughly half of all recorded workplace accidents, according to Golden Triangle Business Roundtable. In the end, it’s the