Professional training continues to be a substantial category in any operating budget. With the average small business allocating over $200k in this area, training costs break down to around a thousand dollars per hire. Regardless of company position, training is required for a number of reasons. Regulations, laws and good business practice are among the most important.
Why Career Training is Crucial
Business training not only has a direct correlation to higher rates of customer satisfaction but also greatly affects business profits and annual company growth. Offering regular training opportunities improves employee morale and reaffirms individual commitment to quality. Career training is crucial because it improves worker weaknesses that would otherwise lead to poor productivity and lax product standards. Employee training also serves as a record that affirms staff are aware of and adhering to important company standards. Post-training, employees routinely demonstrate taking ownership of proposed, measurable goals that ultimately improve business trajectory.
The Opportunity Cost of Professional Training
When it comes to investing in professional training, business managers will agree that the gains far outweigh spending. Dollars allocated to employee training have a swift return on investment. Ongoing staff development is insurance against risk and mistakes that are completely avoidable in the first place. Well trained employees operate within the scope of company culture, represent the brand to a high-level and are able to make decisions without constantly seeking management’s approval, thus allowing managers to do the jobs they’re being paid a premium to perform.
The alternative, not providing employee development is outright foolish. A number of negative effects like employee turnover, potential lost customers and revenue, and expensive regulation violations can all easily negated, click this link. Training can happen in house under hired human resource professionals, or any number of environments.
The Difference Between Training and Development
Employee development is a truly continual process. While the terms training and development are often used interchangeably, the primary difference between them is the employee timeline. New employees are exposed to training commonly through their six month review period. Training can include:
- Computerized Modules
- Supervisor Guidance
- Co-Worker Job Shadowing; and
- Review and Demonstration of Standard Operating Procedures
Today’s technology gives staff exposure to virtual simulations and allows them to be tested measurably for competence. Employees are very aware of the support they are given to develop their careers and skill sets that will ultimately allow them promotion and tenure from within. As technology advances there will always be the need for employees to acquire new knowledge and training.
Training is more than a discussion on expectations. Business managers who support professional training programs can be confident in their staff. Empowering employees to advance their knowledge base allows them to perform their jobs consistently with pride and take real ownership in their work. When employees equate their personal work quality to the bottom line of the business, it enables teams to work smarter and productivity to skyrocket.