Training Your Employees
Training is an investment into your most valuable resource, your human resource. According to some experts, investing just two percent of your gross revenues on training your work force should give you a 200 percent return on your investment in the first year and, after five years, it should still be giving you a 20 to 25 percent return.
Despite the high return, training is an expensive investment. When someone is in training they're not usually working, so it’s important to invest wisely. That means providing the best training you can and making sure your employees take it seriously.
Training should help your employees expand and improve their skills. It should increase their value to your company by improving their ability to make intelligent, independent decisions concerning their work.
“Training is the most basic and sometimes most overlooked form of knowledge sharing that needs to go on in a company.”
Business Training Categories
There are six major categories of business training. These are company-wide training, management training, technical training, sales and marketing training, health and safety training, and orientation training.
1. Company-Wide Training
This involves the development of the whole organization. Examples include customer service and quality control.
2. Management Training
This involves leadership and organizational skills. Examples include time management, delegation, planning, and decision making.
3. Technical Training
This involves specific job-related skills. Examples include computer skills, specific systems, equipment use and certification (i.e. welding ticket, air- brake license).
4. Sales & Marketing Training
This involves the sale of product as well as the promotion of the company. Examples include self-motivation, communication, product training, sales training and marketing research.
5. Health & Safety Training
This involves the development of a safe and healthy workplace. Examples include first-aid, substance abuse, equipment use and emergency procedures (i.e. fire, earthquake).
6. Orientation Training
This involves the integration of new employees into the company.
How will you structure your training programs so they support your company’s progress toward your Strategic Objective? How much time and money will you devote to training? Will you make use of your own staff, or will you bring in outside experts? Will training take place in large groups, or will it be predominantly one-on-one coaching?
Write out your Training Strategy below. Consider your corporate culture: let it be your guide as you continue to develop and implement your training systems.