“If you think training your staff is expensive (time/money) then try ignorance.” Peter Drucker
The problem is that many businesses see training as an expense and not as an investment. Untrained employees will, inevitably, lack the motivation and knowledge to use business resources properly, which will lead to waste, in a service industry; lack of knowledge about procedures will affect customer interaction and retention. Because of this, your employees, your business, and your clients will all suffer.
2022 is fast approaching and its the perfect time to reevaluate your strategies and do things differently in your business.
A survey conducted by PwC asked Millennials, “Which of the following characteristics make an organisation compelling to work for?” This is what they answered: Excellent Training Programs.
Untrained and unhappy employees who feel that they are being underutilised are more apt to become frustrated with their job and be less loyal to their company meaning they will make more mistakes and fail to meet even minimum standards. Management often assumes that providing training will lead to employees moving on to other companies, but this simply isn’t true. With proper training, employees feel like they are valued and are happier in their jobs plus a job that comes with training will attract a higher class of candidate.
Trained Employees Work Smarter
A business is only as good as its employees, and those employees are really only as good as the resources put into them. When employees perform poorly, it reflects badly on the business and affects the bottom line, but when you have a high turnover rate with dozens or hundreds of employees making the same mistakes, then it’s time to look at the training provided, not the employees themselves.
The time and money it takes to correct mistakes are also lessened greatly when employees have the tools to do the task right the first time.
According to HR Magazine companies that invest $1,500 on training per employee can see an average of 24% more profit than companies who invest less.
Before forgoing training always consider how much more expensive it is NOT to train. Consider productivity loss, the cost of employee turnover and lost customers due to mistakes made by improperly trained employees. Your employees’ training and happiness is just as much an asset as the workers themselves.
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