Training and upskilling employees is not just an expense; it is an investment in the future success of a business. Cecil Foster, the managing director of FosRich Company, understands the importance of prioritizing social and corporate responsibility through employee training and development. Two years ago, Foster established the company’s corporate university to provide advanced training programs for employees, comparable to those offered in universities.
FosRich has taken a proactive approach to training by collaborating with experts from overseas and local professionals to enhance the skills of their staff. By partnering with companies like Huawei and engaging business development professionals from universities, FosRich ensures that their employees are industry-ready and equipped with the necessary skills to excel in their roles.
Richard Pandohie, CEO of Seprod, also follows a similar strategy of leveraging overseas experts to train and upskill his staff. By investing in employee training, businesses like FosRich and Seprod not only enhance employee skills but also boost productivity levels and improve worker retention.
The economic benefits of investing in employee training are significant. A recent study by the Centre for Economics and Business Research revealed that apprenticeships generated £34 billion for the UK economy in 2019, with projections indicating a rise to £40 billion by 2022. Additionally, apprenticeships can increase individual productivity by an average of £214 per week, leading to improved productivity levels reported by 78% of employers who hire apprentices.
To replicate similar success locally, organizations like the Jamaica Manufacturers and Exporters Association (JMEA) emphasize the need for a robust apprenticeship program at HEART. By promoting and developing structured apprenticeship models, HEART can drive skills development and provide clear guidelines for continued education and awareness.
Taneisha Ingleton, managing director of the HEART/Trust NSTA, highlights the importance of developing an institute of higher apprenticeship that will partner with experienced education and training providers to deliver technical training to industry employers. By establishing strong partnerships and investing in employee training, businesses can enhance skills development, improve productivity, and ultimately drive economic growth.
In conclusion, investing in employee training is not just a responsibility; it is a strategic decision that can lead to long-term success for businesses. By prioritizing skills development and upskilling their workforce, companies can create a competitive advantage, boost productivity, and contribute to the overall economic growth of the country.
