Boost Market Growth with Employee Training Programs

Categories: Management Tips
Do you know that short story or a thinking exercise where a CFO asks, “What happens if we train them and they leave?”, and then the CEO answers, “What happens if we don’t and they stay?”? It’s a bit of a cliche start but hear me out anyway.

You might be using resource planning software like Ganttic or project management tool like Jira but there is no software that will actually do the thinking for you. Well, actually, the artificial intelligence has come pretty far already. Even when you reach for your calculator to subtract 75 from 137 because you can never be too sure, you are basically letting the machine do the thinking for you. 

We can talk about Google’s Self-Driving Car Project which actually is artificial intelligence. Actually, we can’t because I have to stay on track here. My point was, yes, technology will help you and your employees. No, it won’t replace hard-working, creative, and smart employees.  At least not right now it won't.

If we go back to cliches there’s also, "You have to spend money to earn money". Again, no jokes. A study conducted in 2013 found that having a training and development program can actually lead to market growth. Additionally, they found that training your employees means higher employee retention percentage and organizational performance. 

And the other side of the coin is that your employees will be more satisfied, performing better, and they will actually be more competent. So yeah. Spend money on training your team. You will earn it back with a bonus.

training and development programs benefits

For example, says that Amazon has one of the best training programs out there, and they offer their employees an intensive, month-long training and leadership program prior to hire. Amazon prepays 95% of tuition for employees at fulfillment centers to take courses in in-demand fields. A “Virtual Contact Center” trains employees to work from home. 

According to The Innovation Enterprise McDonald’s educates employees for whom English is a second language. Their program, EUA or English Under the Arches, works toward greater retention rates for gifted employees. As a result of the program, the company boasts 70 percent retention after three years for graduates of EUA. If you want to start walking in the footsteps of the aforementioned companies, you should start with creating a training program with the first step being a training needs assessment.

The other way to train your employees is to send them to meet the experts in your field. There is a number of conferences, assemblies, and forums on enterprise resource planning, and project management. The same with every other field of work. Some of them might sound a bit boring, I ain’t going to lie. 

Anyone that wants to learn, can learn something from attending each one them. Best practice might be just to let your employees tell you what they feel like they are lacking. Great way to tilt the responsibility is to establish a budget for each employee that they can spend on stuff like that. That way they can decide where they want to go, and what they want to do and you have one less task. Win-win, right?!

Some of the resource planning and project management events in 2017 to get you started:

To summarize it - if you don't train your employees you will not be as successful as you could be. It's as easy as that.