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The Link Between Training and Innovation

In actuality the benefits go beyond that and into a corporate culture of innovation

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  • Written by  Banking Exchange Staff
The Link Between Training and Innovation

Training is important when it comes to individual's as well as an entire company's ability to innovate. Most people might consider training first and foremost to learn specific information or routines, but in actuality the benefits go beyond that and into a corporate culture of innovation. 

1. More training within a company does lead to not only better process innovation, but also better product innovation. In other words, better training can actually lead to new innovative products after employees are trained to think a different way or increase knowledge. 

2. On the job training is at least as important as classroom training. The reason is in part that when you are teaching innovation, people need to see thoughts and strategy in action. 

3. A company that creates a positive view and application to training in general will have an overall positive effect on firm level productivity through process innovation (the way people solve problems and think through problems). 

Continuous training leads to cutting edge knowledge. In other words, the employees are up to speed on the latest information, which is extremely important for innovation. Secondly, studies show a lack of skill within an enterprise is a huge deterrent to innovation. If a company is filled with employees that struggle just to do the job on a regular basis, it will slow down their minds in such a way that they are less likely to innovate.

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