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Question: Explain these benefits in my own words in human form The ability of employers to facilitate skills development within the organisation The provision of financial benefits in the form of pay incentives and skills development grants. • Employers having a greater pool of qualified candidates to choose from when filling positions. • Increased market share opportunities because of a competitive and skilled workforce. • Greater contributions to the success of the organisation from a more participative workforce. • A more motivated workforce leading to fewer labour disruptions. • A greater contribution to the economic growth and development of the country. Increased skills in the workplace which lead to increased performance levels. • Higher staff retention. • Credible staff qualifications • Meeting employment equity targets. • Higher returns from the skills levy and tax relief benefits. • The fast-tracking of employees with potential through learnerships.
When companies help their employees develop new skills, it brings a lot of benefits to the organization and employees themselves: 1. **Skill Development:** Companies can train employees and help them acquire new skills that are beneficial to the organization, which means employees can do their jobs better and with more expertise. 2. **Financial Benefits:** Employers often offer extra money or bonuses to encourage skill development. They might also receive grants that help cover the costs of training their workforce. 3. **Qualified Candidates:** When positions need to be filled, having a well-trained pool of candidates gives employers more options, ensuring they can hire the best suited individuals for the job. 4. **Competitive Workforce:** Employees who are well-trained and skillful make the company more competitive in its industry, potentially increasing its share of the market. 5. **Workforce Participation:** When employees develop new skills, they can contribute more effectively to the company’s success, often leading to better team collaboration and innovation. 6. **Motivation:** A skilled workforce tends to be more motivated, which reduces instances of work stoppages or labor disputes. 7. **Economic Growth:** As organizations become more successful with a skilled workforce, they contribute positively to the country’s economic development. 8. **Performance Improvements:** Skilled employees often perform their tasks more efficiently and effectively, which boosts overall company performance. 9. **Staff Retention:** Employees are likely to stay with a company for longer when they are engaged and have opportunities to grow, lowering turnover rates. 10. **Credible Qualifications:** Developing skills in the workplace ensures employees have recognized qualifications, raising the reputation of both the employees and the organization. 11. **Employment Equity:** By offering learning opportunities, companies can better meet their goals for a diverse and equitable workplace. 12. **Financial Returns:** Investing in skills development can lead to financial gains through tax relief and getting back more from investment in the skills levy. 13. **Career Advancement:** Companies can fast-track skilled employees with high potential through tailored learning programs, driving growth for both individuals and the organization. These benefits show that focusing on employee skill development is a win-win strategy for both the company and its workforce.
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