Why Investing in Your Employees is Worth the Expense
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by Amy Nixon
n today’s economy, spending your resources on employee training and new technology might not be at the top of your priority list as a business owner. However, did you know that employee training is one way to ensure employee retention?
According to a post on Lorman’s Web site, “Seventy-four percent of employees are willing to learn new skills or even go through a retraining program in order to remain employable.”
Employer Expense or Investment? According to Forbes, employee training is often viewed as a company expense. When viewed in this way, training is not seen as a means to retain employees, which ultimately costs less than the rehiring process. This short-sighted mindset only hurts the company in the long run.
According to The Washington Post, employers should consider just how expensive the rehiring process is. From interviewing and onboarding to training and development, the costs can add up quickly. Not to mention, “High turnover is associated with loss of productivity, customer service issues, impact on company culture and lower engagement,” the article states. In addition, Lorman’s Web site states, “Companies with unsatisfactory onboarding 26 • National Bus Trader / October, 2024
Tony Pascarella, product support specialist and leading HVAC trainer, teaches students and customers at MCI’s regional training seminar at Pennco Tech in Blackwood, New Jersey. Most company staff are willing to spend the time and make the effort to learn new things. This is important with buses where technology is continually moving ahead to new areas and systems. MCI.
processes are twice as likely to experience employee turnover when compared to companies with more comprehensive training.” Retaining employees greatly reduces or eliminates these costs. When your employees’ productivity and quality of work increases, so too can your profits.
Adopting new technologies can empower your employees and your business to thrive. By fostering a culture of continuous learning, providing a supportive environment and tailoring training programs, organizations can effectively equip employees with the skills they need.
Investing in your Employees Okay, so you have decided that investing in training, technology and resources will pay off in the long run. How do you go about implementing these changes?
First, recognize the obstacles that you face. Acknowledge that administering new technologies may require employees to adjust their mindset. Employees may be afraid of making mistakes or feel hesitant to change. Help them feel more comfortable by creating a welcoming environment where making errors is accepted as a necessary part of learning.
Take note of your employees’ individual ways of learning. Some may benefit from visual aids, step-by-step directions, one-on-
one training, group training sessions or a more hands-on approach.
Next, promote learning. Create customized training plans. Adapt training plans to meet the needs of various learners. Provide options such as online lessons, selfpaced learning modules, group workshops and one-on-one sessions.
First things first, start with what you know. Build confidence gradually before introducing more advanced tools and training. Provide opportunities for handson training. Encourage experimentation and exploration in a safe environment where mistakes can be corrected without consequence.
Provide clear instructions. When introducing new technical concepts, use simple, jargon-free language. Break down tasks into manageable steps and supplement with illustrations or examples to enhance understanding. Promote teamwork. Foster a culture of peer support where employees can learn from colleagues who are already proficient in a specific technology. Peer mentoring can often be less intimidating and highly effective compared to formal training sessions. Provide frequent assessments and constructive feedback to track progress. Recog-