Time to Invest in Employees with Training
A Recession is the Best Time to Increase Employee Training
What business has time for destroying bad product, losing customers, or workplace injuries? Have you ever worked with someone who really didn’t know how to do his or her job? Frustrating, isn’t it? It is easy to recognize the impact of poorly trained employees – wasted time, bad product, scrap, delays, injuries, accidents and stressed co-workers. Wouldn’t it be wonderful if there was a simple solution to address all of these issues? There is – employee training.
In a recession many businesses cut, or even delete, their training budget. That is the exact wrong step to take. You need every employee working on their A-game. With customers and sales coming at a premium every employee must be operating at their best. Now is the time to for companies to invest more in their employees and start reaping the rewards today!
The immediate and long-term benefits of employee training include:
- Improved Quality of Work - production employees trained in the proper usage and monitoring of equipment will produce fewer non-conforming products.
- Better Team Performance - a new manager who is trained in supervisory skills is likely to bring out the best in their co-workers. Sending a group of varied employees to attend training together is a great team building opportunity.
- Increased Productivity - an Accounting Clerk who receives training on your company’s accounting software will work faster and make fewer errors. Less time wasted on finding and correcting errors means more time spent on productive work.
- Increased Sales - a Salesperson trained in negotiation skills will have a higher close ratio.
- Improved Employee Health - warehouse employees who receive safety training are less likely to injure themselves or others, reducing your lost work time and workers compensation claims. In addition you’ll have better compliance with OSHA requirements.
- Improved Safety Record - drivers trained in proper backing up techniques will have fewer accidents, reducing auto and property damage claims. Better loss ratios translate into lower annual insurance premiums.
- Increased Customer Retention - a customer service representative who is trained to deal with difficult people is more likely to address customer complaints effectively.
- Increased Employee Morale and Retention - employees who receive the necessary training to do their job well experience higher job satisfaction. Increased job satisfaction translates directly into higher employee retention rates reducing the high cost of turnover.
Yes, training programs cost money, but it is a short-term cost with a long-term payoff to the team and the organization. The costs are easily recovered through greater efficiency and productivity, reduced error rates, less waste, fewer accidents, and less turnover. What company wouldn’t benefit from these results? Tom Peters, management consultant and author of “In Search of Excellence”, says, “If your company is doing well, double your training budget; if your company is not doing well, quadruple it!”
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