The true cost of NOT providing effective training
Updated: May 11
It is tempting to view quality staff training as an expense. But what is the true cost of failing to train your staff effectively? I can tell you, it’s huge!
You don’t expect your car to run smoothly if you don’t give it any oil, and it’s the same with your employees and their skills. I work with a lot of different businesses, and the level of training provided varies greatly.
Employees that are given effective training from day one feel supported, valued and happy, which saves time and money in the long run.
Let’s begin with on-boarding. This is your chance to make a great first impression! Does your new employee feel supported? Or are they thrown in the deep end to fend for themselves?
I heard a horrific story once of a new senior manager who arrived on day one to an empty desk. No computer, no system access and no training support. Not surprisingly he left within the year.
First impressions last. If you provide training and support from day one new staff members feel valued and are likely to remain with you.
Trained employees do a better job:
You cannot expect your staff to excel if you don’t teach them how!
Any business is only as good as it’s employees. If you have motivated staff, utilising their skills, with a clear understanding of their role and the tasks required of them, the business is likely to thrive.
When workers perform poorly it shows. Staff become disengaged, mistakes are made and ‘going the extra mile’ no longer exists.
Invest in good training from the beginning and it’ll pay itself off in spades with high productivity and reduced staff turnover.
Increased retention rates:
As an employee, if you feel valued and empowered within your organisation, you’re much more likely to stay put. Hiring new staff is expensive! There’s the cost of recruiting and interviewing and then the process of on-boarding...
If you get it right from day one, you’ll see increased retention rates, which means less time spent on training and more time being productive in the long run.
It’s far better to take the time to train one employee correctly, than train 5 poorly in quick succession.
With any business, reputation counts! And not just when it comes to customers. Professionals within their industries talk.
Talented employees, loving where they work and excelling in their role makes for a great reputation. Which means when it is time to hire someone new your business will attract better candidates.
Yes, training is an investment - think of it as the oil for your engine.
Get it right at the start and you’ll make a great first impression, reduce errors, increase your retention rates and gain a reputation you can be proud of!
It’s a small price when you take the time to consider the true cost of NOT training staff effectively.