Download - The Need for Training in Turbulent Times
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T H E N E E D F O R T R A I N I N G I N
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When tough times hit an organization, leaders have a tendency to immediately
look for ways to reduce costs. If you’ve been in the training industry for any
amount of time, you’ve probably seen that training budgets are among the first
to be cut. This mindset, however, is contrary to what recession-hit
organizations should consider.
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Typical Tendencies
One of the worst things a company can do during a recession is to eliminate training. Why?
Consider these typical tendencies of an organization facing tough times:
It’s almost certain that employees will be let go. What impact does this have on the
remaining employees? They take on new responsibilities to fill the holes, some of
which are not part of their existing skill set.
Employee productivity might be affected by fear of more cutbacks, lowered morale, and
stress over their new responsibilities.
When recession impacts an organization, the natural reaction is to cut expenses in any
department that doesn’t show a direct link to revenue generation. In fact, training and
documentation often have a vital, although indirect, link to a company’s recovery from
turbulent times.
Hiring is usually frozen. But what if the existing employees are unable, or unskilled for
the company’s shift in needs? The cost of replacing employees has associated costs
and liabilities.
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Training Helps! Developing training during turbulent times can alleviate some of the worst symptoms of an economic instability:
Training promotes better morale, productivity, and sales.
Employees appreciate any opportunity for skills development. Training
improves learners’ self-esteem, which in turn improves their morale in
the workplace and their loyalty to their employer. An added plus: there’s
a definite link between happy employees and satisfied customers,
which leads to better financial results for your company.
Employees need to learn new skill sets based on their increased
responsibilities, and training is the most effective means.
You may not have the money to invest in formal classroom training or
hours of e-learning, but with a minimal investment, you can develop a
blended learning plan that meets learners’ needs. For example, you can
develop emails, blog articles, wikis and online knowledge bases to share
information. You can even set up an online bulletin board or use a social
media tool (Facebook, Twitter, LinkedIn, etc.) where employees post
questions and a subject matter expert
answers them. Turbulent times
call for creative measures!
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Training Helps!
Training can actually save money.
Consider supervisory time and costs involved with monitoring and
guiding employees. By investing this same cost in employee training,
you satisfy two needs—better trained employees and more time for
supervisors to spend on income-generating tasks.
Training forces organizations to evaluate current processes.
The first stage in any training development process should be analyzing
current tasks and processes. During this stage, you have the opportunity
to rethink how and why you do things, and you can determine areas for
improved efficiency. Then, when you train employees on these improved
processes, you can achieve new levels of productivity.
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Training Helps!
Training during turbulent times insures that your company is at its
best when the economy stabilizes.
Focusing on the future through training insures the organization
withstands the current instability and is poised for action when the
economy stabilizes. Your company can enjoy a competitive advantage
if your employees are a well-trained and responsive team, especially
since your competitors may continue to
be bogged down in the malaise of
turbulence. This scenario puts you in
the driver’s seat in your marketplace.
It also makes training and
documentation your direct link to
success and improved revenues.
Training enables an organization to hire new, more talented people.
A fundamental management philosophy is that one great employee
replaces three good employees. To attract and keep ‘great’ talent, you
must offer training programs in your suite of benefits. This investment
entices the ‘great’ ones and keeps them challenged, involved, and loyally
invested once hired. Great people usually mean great customer service,
and (in turn) better revenues.
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Brighter Future Ahead
During tough times, processes must change to meet the challenges, or chaos can ensue. Keep your existing employees well-trained and ready for the
good times ahead. Learn to embrace slowdowns and take advantage of the time to reevaluate your processes, hire and keep great performers, and
invest in your future.
"Any company has to recognize that not only is the human capital
of their employees a major asset, it is also a depreciating asset
that needs continuing investment."
~ Nobel Laureate Gary Becker
Professor of Economics and Sociology at the University of Chicago
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Michaels & Associates can help you implement learning solutions that improve employee morale and performance, even in the toughest times. Feel
free to contact us for more information. Michaels & Associates — training happens here every day.
[email protected] www.michaelsandassoc.com toll-free: 877-614-8440