The Cost Of Not Training Your Employees Will Shock You!

StrategyDriven Talent Management Article
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So many business owners and managers do not value the importance of training their employees. Yet, if you gave them a choice of getting in a car with someone who had passed their test or someone who hadn’t passed their test, they would take the former no matter what the cost difference was. It is madness, even though the principals are the same.

But let’s change it around a bit. Let’s say you gave them the option of hiring a qualified employee or someone with no qualifications. The answer would be the qualified candidate. So why not offer training to staff that would make them more qualified, and better able to do the job? We live in a world that changes seven days a week due to new technologies and updated strategies and advanced methods, which is why we need to focus on new training.

But if that isn’t enough to convince you, hopefully, these points will be:

Training Boosts Efficiency

The more trained someone is to do their job the more efficient they will be. It is simple math. You see, if someone isn’t as well trained to do their job, it is going to take longer for them to complete the tasks at hand and time is indeed money. That is why it is imperative you look at training as profit; after all, the two go hand in hand.

Training Creates Specialists

It is all well and good employing a workforce of factotum employees, but it will stop you from progressing as a business and see you lose ground to your competitors. If, however, you spend time and money on creating a workforce that has training specialist areas, you will see your business economy boom. It could be that you provide injection molding training to your production workforce while concentrating on sales technique training on those that bring in new business and train your HR staff on compliance training to ensure they operate within the regulations of your industry. All of these will streamline your business and expand your profit margins.

Training Encourages Happiness

The worst thing for a company’s productivity is low morale, and low morale comes from unhappiness, which comes from employees who feel undervalued and inadequate. The feeling of being an underachiever niggles away at even the most confident of people. That is where training comes in. If people feel as though they are advancing their own personal skill base, talents and abilities, they will see value in themselves that will be reflected in their work. That is a win for you and them.

Training Allows Competency

The less your workforce is trained, the more mistakes they are bound to make, and mistakes cost money. It doesn’t matter if it is time, materials, injury, accident or whatever, mistakes can cost your company dear. What’s more, it runs the risk of upsetting your clients or customers. As such, it is crucial you train them regularly on new practices to ensure mistakes are kept to an absolute minimum.

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