Professional development and training have consistently been a large part of any organization’s annual budget. The 2015 Training Industry Report determined almost a 15% increase in training expenditures to over $70 billion dollars spent. Within the industries included in the survey, healthcare and medical services comprised the largest segment of the population (16%). It’s obvious that we spend a lot of time, effort, and money on training, but do we really understand all that is gained from these expenditures? Let’s take a closer look.
7 Ways Healthcare Analytics Training Impacts Your Organization and its Data Champions
1. Training Builds Tribal Knowledge: Perhaps the most important benefit of training and development to the organization is building Tribal Knowledge. Participation in training opportunities can have the greatest impact when more than one individual attends the training. This provides an opportunity for conversation around the content, a higher likelihood of transference to the workplace, and a ripple effect to other Data Champions.
2. Training Maintains the Flow of Innovation: Regular healthcare analytics training maintains the flow of the most up-to-date technology, strategies, and innovative ideas into the organization. Teams that do the same things in the same ways because it has always been done that way become stagnant and lose traction for growth.
3. Training Fosters a Culture of Life-long Learning: An organization that values the ongoing development of their teams fosters a culture where life-long learning becomes an integrated component of the annual planning and goal setting processes. Data Champions are individuals who consistently seek to find learning opportunities.
4. Training Boosts Morale, Motivation, and Job Satisfaction: When team members feel valued through an organization’s investment in their own growth, their morale and motivation are boosted. Team members who feel valued are happier and more satisfied with their job and career potential.
5. Training Attracts High-Demand Candidates: Healthcare analytics training and development that is linked to professional certification or opportunities for higher education degrees attracts high demand candidates during recruitment. Potential new Data Champions will view certification support as a perk which will help them become more promotable or marketable.
6. Training Enables Succession Planning: In an analytics team, you need to be able to plan for the succession of the leadership and responsibilities. Data Champions need to be prepared to jump up to the next level of data management, wrangling, and visualization without months to prepare and develop mindsets, skill sets, and tool sets. This means that the organization has planned for more than just the next 6 months of job roles and responsibilities. Work for today, train for tomorrow.
7. Training Reduces Turnover: While there is a per learner cost to all training programs, it actually costs more – up to 150% of the budgeted salary—to find, recruit, and hire strong Data Champions. A strong development program reduces turnover through job satisfaction and succession planning.
Healthcare Analytics Training is an Investment in Your Organization as a Whole
Even with acknowledging these benefits, there can still be a hesitation from executives when asked to engage their teams in dynamic professional development. While consulting for large organizations, I have often heard top executives complain that they put all of the effort and expenditures into training individuals for that aspirational role and job performance only to have them leave and take their newfound tools and knowledge with them. They ask me, “What happens when I train, and they leave?” I answer their question with a question: “What happens if you don’t train and they stay?”
Nurturing organizational talent gives someone their own cape to be your superhero and Data Champion. ThotWave’s Healthcare Analytics Academy is prepared to be your partner in creating personalized learning paths that map directly to certification standards, aspirational job roles, and internal HR recruitment, retention and succession strategies. We can help you foster a culture of life-long learning among analytic teams that improves job satisfaction and motivation.
For more information on healthcare analytics training and the impact it can have on your organization, be sure to read ThotWave’s research summary, We Need Data Champions: Attracting, Training and Retaining Talent for Your Organization’s Data Needs.