In a recent discussion with a business owner, he recalled a time in the past when he believed he could not afford to spend money on training his employees. “We were too busy and couldn’t afford for people to be off.” The cost of training, paying employee wages during training, as well as the loss of productivity, seemed prohibitive.
Today this business owner admits he has found just the opposite…he cannot afford NOT to invest in employee training and development.
Employee training or leadership development in many businesses and organizations is considered a discretionary expense. Despite the initial monetary costs, staff training pays back your investment.
Here are the top four reasons why investing in your people makes good business sense:
- Training helps your business run better. Nurturing employees to acquire new skills enables them to make a valuable contribution to the organization and boosts the company’s overall performance.
- Training leads to greater engagement and makes people feel valued by their employer. Knowing they are cared about and invested in increases morale and a sense of fulfillment. It also reduces turnover of staff, and we all know how expensive it is recruit and train new people.
- Training introduces employees to new technologies, methods and abilities. Shared knowledge and interactions with others at training sessions can lead to improvements in service delivery and production.
- Training promotes job satisfaction. Upgrading the skills of your employees fosters team spirit, enhances motivation and affirms people’s contributions to the organization.
You may be thinking…BUT…what if the employee leaves and I have invested all this money in training and leadership development?
My response is…what if they stay?!
Team training and leadership development
Our goal is to help your business flourish. Contact us to discuss your team training and leadership development needs. We're here to help.