Why Shortchanging Training Always Costs More

A number of studies in the last few years have similarly shown that companies that consistently spend across all levels to develop their people reap the following benefits:

  • Deeper and more engaged employees – employees deeply engaged due to proper training are 200%+ more productive than disengaged employees without aligned training
  • Higher productivity – sometimes up to 10% more productive
  • Better profitability – consistently 24% better profits
  • Higher employee retention – companies that have proper training see less than 40% turnover in an employee’s first year

Many companies claim to have a great company wide training program, when actually very few do. Which explains why 69% of employees are actively seeking new employment opportunities for companies that will properly train and develop them.

Companies that shortchange their training will misfire on keeping their best and most valuable resources – people. These statistics prove it.

Where companies fall short are in varying areas, depending on the culture and focus of the organization. Here are some of the myths, or excuses, of why training is shortchanged:

  • Training should be done in the course of work, so no other expenditure of resources other than the initial orientation is needed
  • Employees that figure it out themselves are the peak performers we want, so not focusing on training will create the environment for peak performers to develop and stand out
  • Senior leadership should get the bulk of the training dollars because they are the ones who can make the biggest impact
  • There is no time to train, we are busy and have to focus on the job at hand
  • What if we train them and they leave?
  • If we spend money in training, the employees will want more money
  • We can train cheaper in house, or leverage technology to do it for us
  • It takes too much time to develop people, we can’t afford to get them out of their roles

All of these just exemplify the real rationale: these organizations value something else other than training. They value the short-term opportunity cost of savings of money and time over the long-term benefits of growth, enhanced culture, and positive impact in their industry.

Businesses are made up of people. Therefore, business IS people. And in order for businesses to grow, people must grow. That’s where the truth of this quote comes from:

“You don’t build a business. You build people – and then the people build the business.” – Zig Ziglar

Training never comes back void, as long as it’s done with purpose and with an attitude to serve and grow each member of the team.

Focus on training every day. It never stops, because business never stops. Unless your people stop growing.

(image: pixabay)

#ThursdayThought – Self-Awareness, Always Be Learning

One of the toughest things for us as hunmans is to objectively learn at every opportunity.

We tend to be defensive when things don’t go our way. Our pride tells us “I’m fine, it’s everyone/everything else”.

When things are going well, we think we’re in a good place, and fail to find out how to be better.

At every instance, we should always be learning.

We should learn where new opportunities are, what is trending, and how to be more effective.

We should learn where to make the biggest impact and how to connect with others on a deeper level.

But the most important thing we should always be learning about it ourselves and how we can improve.

Most of the challenges we face are how we respond to situations, and how our action feed into them before they occur.

If we spent our time learning the art of self-awareness and always be learning about ourselves, we will gain mastery of the most elusive part of leadership – our own EQ.

Always learn about the world around you, but more critically, learn about the world that is within your own heart and mind.

(image: pixabay)

Start Your Week By Driving Culture

Do you start your week off with a sense of dread of how you’ll get your teams motivated and inspired this week? Or do you get overwhelmed as to how to you can make culture deeper but, wow, there’s just so much work to do?

Having a clearly defined expectation of your organization’s culture is always the foremost step, but it’s the consistent application of culture throughout the week that will enhance employee engagement and make your teams synergize with purpose.

So to give you a starting point for success, here is a simple Monday checklist to get you started driving culture this week:

  1. Read your company’s culture and mission statement.
  2. Make sure culture and mission are posted in work and employee areas highlighted often to prevent the “wallpaper effect”.
  3. Start your leadership team off with a “temperature check” of how culture is and a commitment to make culture Job #1 this week.
  4. Through intercoms, team meetings, line checks, calls, personal interactions, make sure to promote your culture at every interaction.
  5. Thread culture through every project, strategic plan, financial forecast, training sessions, and every other project in an effort to bring cohesive engagement.
  6. Pick 5 employees (1 per day) and find a “temperature check” time to ask about cutlure and empower them to build it.
  7. Schedule time for yourself midway through the week to stop and asses how YOU are impacting culture.
  8. Wrap up your work week with a reflection or a “plus-minus” of how your team enhanced culture and what next week’s steps are.

I kept this checklist simple because we have a tendency to over-complicate the important in our lives. By keeping this list before you and reviewing it every morning, you will see consistent, then amazing, growth in your culture and how your people will fully lock-in to promoting the mission and vision of the organization as well.

Feel free to adapt and tailor this checklist to your individual and corporate needs. I attached two links to previous posts I’ve written to help you in your staff 1-to-1’s and reviewing your days and weeks. These strategies will help this checklist become a living organism in your company.

Keeping it simple is key, but keeping it a priority is vital. Make culture happen this week!

(image: pixabay)

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