Today’s payments business environment is so fast-paced and competitive that employees need to be constantly learning to keep up with their job skills and goals. If a company wants to stay ahead of the industry curve, it’s vital to understand the importance of regular employee training.
According to research by the World Economic Forum, 6 in 10 workers will need to be retrained and upskilled by 2027. Not only because of technological improvements, but also because the industry is constantly changing, and new approaches are required.
In the highly competitive payments industry, companies that recognise the importance of upskilling their employees invest more effectively in their workforce. As a result, these companies tend to become more successful.
Benefits of employee training
Employee training is crucial to any business, providing numerous opportunities for growth and development. The benefits of training are becoming increasingly recognisable and significant for organisations around the world. Furthermore, it increases the organisation’s authority and expertise in various areas.
Innovation and creativity
Investing in employee training fosters a culture of continuous learning and development, which can stimulate innovation and creativity. Employees equipped with the latest skills and knowledge are more likely to come up with fresh ideas, improve processes and develop innovative solutions that can give the company a competitive edge.
Employee retention and support
Providing training opportunities also demonstrates a company’s commitment to the growth and development of its employees, which can significantly boost morale and job satisfaction. When employees feel valued and see a clear path for career progression, they are more likely to stay with the company, reducing turnover and the costs associated with recruiting and training new staff.
A resilient and adaptable workforce
Companies need a workforce that can adapt quickly to new technologies, market trends and industry challenges. Continuous training helps employees develop a diverse skill set, making them more flexible and able to take on different roles and responsibilities. This adaptability ensures that the company can respond quickly to change and maintain productivity and competitiveness when challenges arise.
Training opportunities at PAYSTRAX
This is an ideology which PAYSTRAX follows and therefore gave me a great opportunity to participate in an in-person training “Merchant acceptance course” organised by Web Shield. I was able to improve my knowledge and gain more skills on topics such as transaction laundering, fraud trends, website risk assessment tools, online investigation strategy, cryptocurrency, CBD, prop-trading merchants and others. It was a pleasure to meet the experienced lecturers: Franz Reinhöfer and Gabriela Cernalev, who shared their knowledge extensively.
I believe that participation in training courses demonstrates our commitment to improvement and better service provision. This commitment ultimately leads to greater efficiency and success, while also creating a self-improvement opportunity for every employee both individually and professionally.
Diana Ravinskaitė-Laranjeira, Senior Merchant Risk Specialist at PAYSTRAX
