Here's How Going Cheap on Employee Training Is Costing You
A company is only as good as the employees it has. They are its lifeblood, its essence. Every single person, from the CEO to the most basic door to door salesman, they all have a role to play. And the more they improve, the more your company will improve as well. For this reason, you should understand that not investing in employee training is costing you money, and not actually saving you anything.
This may sound callous, but it’s there to hammer the point home: if you know that investing in equipment leads to better results, why not invest in your people? Of course, we don’t suggest you actually think of them as equipment – in fact, that can be an issue as well. Remember that these are actual living breathing humans who lead lives, have memories, and want to get better in everything they do. Below you can see just how expensive it can be to save money on employee training.
Not building loyalty
People who respond well to training opportunities are people you do not want to lose. The best and most useful employees crave improvement and training, and will not join your company, or will find a way to leave if they don’t have this option. And we all know how difficult it is to find good workers.
However, providing your people with training will show them that you care and that you want them to improve, to work on their abilities and to get better. This will, besides the obvious benefit of getting better employees, keep the goods ones with you for longer.
Furthermore, a loyal employee is a motivated employee. And a motivated employee is a productive employee. This, of course, leads to more money, and a generally better work atmosphere and feel. Companies that invest in rto training resources and materials, seminars, and training courses can expect their employees to return the favour.
You will be less attractive as a company
If you want to attract the best employees and the most lucrative deals, you need an attractive company yourself. Indeed, how can you expect people to bring a lot to the table if you yourself don’t have anything special to offer? Mediocrity will not attract top talent. You must understand that the need to improve is one of the most important and core traits of talented and ambitious people. This also means that offering free employee training is very lucrative.
Furthermore, this will do wonders for your image as a whole. Business partners will see you as a serious and dedicated company, you will attract more and more people, the benefits will quickly snowball towards something even better quickly.
You will fall behind
Whatever field or area of business you are in, it’s a pretty safe bet that it’s constantly changing and shifting. With that in mind, if you want to stay competitive, you need to be in line with the times, you need to work long and hard on your busses, and to not let time pass you by. Training is a big part of this.
Namely, by providing your people with training programmes, you know that they will be up to date with the latest trends, machines, and systems. Anything form knowing how to operate new machinery, to the latest freehand accounting approach, all of these are necessary in order to stay afloat. An added benefit is that they can actually keep you up to date. Your time as a manager or boss is limited, and by sending your people to the newest training camps and seminars, you can have them fill you in on the latest happening in your field.
Just because you saved up a couple of bucks in one area doesn’t mean you improved your bottom line. Things are never that simple, and the best example of this is employee training. By not investing in employee training, you are not building professional, expert employees. You will not be as attractive as some other company can be, and you will without a doubt fall behind. So try to get the right materials, and invest as much as you can into your people, as often as you can.