Employers in the UK have been able to boost staff retention by investing in training, according to new research by the Learning and Skills Council (LSC).
The National Employer Skills survey revealed that 42 per cent of businesses using the LSC’s Train to Gain Service have enjoyed increased profit margins.
Improvements in productivity and staff loyalty have been responsible for this, the study suggests, with 30 per cent of employees being promoted by their employers following their training.
Paul Holme, director of skills for employers at the LSC, said: "Tens of thousands of employers are already seeing a substantial impact on their bottom line. What’s more, learners are also reaping the rewards as they enjoy better skills and promotions."
John Cridland, deputy director general of the CBI, has also spoken of the benefits of training, insisting it is "indispensable" to the overall success of a company.
A recent survey by Learndirect Business revealed that 60 per cent of workers believe their employer does not take full advantage of the skills they have acquired outside of the workplace.