2013-02-25 00:00:00 General English https://quickbooks.intuit.com/in/resources/in_qrc/uploads/2017/05/9.-26thFeb_Why-should-you-invest-in-Employee-Training1.png Why and How Should You Invest in Employee Training

Why and How Should You Invest in Employee Training

2 min read

When you are small, you have to wear many hats, being in a room solving most of the problems yourself. That’s an asset and part of what makes you very successful. As you scale, your job is to empower other people to do those things, inspire them, to get the best out of them and not necessarily solve every problem yourself” – Andrew Mason, Founder & CEO of Groupon, the world’s largest deal-of-the-day website. Needless to say, your employees are your biggest asset, whether at the start-up stage or at the growth stage. They not only believe in your start-up dream but also participate in the efforts to realize that dream. Is it then, not your responsibility to make sure that they are continuously being groomed for larger roles when the time comes? Yes, we are talking about training sessions for your employees. The benefits of training, after all, are all too many: • It improves the skills which in turn improves performance of both the individual and the business. • It will help you stay competitive in the market. • It increases the employee’s job satisfaction, morale and motivation which in turn help in increasing the productivity of the business. • It creates efficient employees who require less supervision and detailed instructions. • It enables them to adapt better to changes and challenges in the normal course of business. • Finally, it instills confidence in them that the business-owners care for their individual growth. This in turn influences them to stay with the company for a longer time. Cost-Effective Training Sessions: It may be a while before your business can afford large sums of money/resources for your employee’s training. However, that should not stop you from conducting routine training sessions. We help you with a few cost-effective ways of employee training: • Regular Training: – Spend some time in documenting a Standard Operating Procedure (SOP) that is a summary of the processes in your business. You can also ask an existing employee to create the SOP replete with pictorial/diagrammatic representations. You can use this document for your regular training/briefing needs especially that of new employees. – Designate your experienced employees to train new recruits rather than recruiting a trainer. This method will not only help in breaking the ice but also help in building a good rapport with their new colleagues.   • Specific Training: – Look up on the internet to look for resources that effectively use e-learning and Virtual Learning Methodologies. Often, these are not very expensive and offer flexible packages – Identify particular employees in your office who can keep track of the latest changes in your industry. This could be related to technology upgrades, subject-matter expertise or even best-practice sharing. Make sure that these changes are routinely captured, documented and shared with the respective teams through ‘knowledge transfer’ sessions. Websites such as www.youtube.com, www.slideshare.net etc have invaluable resources on topics of particular interest.   Are you convinced about the need for your employees training? Let us know if this article has helped you identify a crucial business requirement.

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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