Investing in your employees is investing in your business
Training and development for employees can be seen as expensive or time consuming. But if it’s done well it can provide a significant return on investment, whilst building both the trainee and the business.
You may ask – “But what happens if I train them and they leave?”. Whilst this is a genuine concern, you should also ask – “What if I don’t train them and they stay?”. Research last year found that unproductive employees are costing British businesses around £22 billion annually.
Sir Richard Branson summarised this nicely when he famously said, “Train people well enough so they can leave, treat them well enough so they don’t want to”.
Before you embark on a training and development plan for your employees there are a few things you should consider including:
Define learning needs
Ensure your business will benefit from any training and development that you provide.
Look forward and identify the skills gap within your organisation.
Personal development plans can be drawn up as part of the annual appraisal process.
Protect your investment
Whilst it’s the individual or team who receive the, the goal is to retain this knowledge within your business so that you can measure the ROI. Have a study assistance clause in an employee contract and a signed agreement in place to protect your investment should an employee leave sooner than expected. A carefully wording clause and agreement mean you will be able to recover some or all of the cost of the training.
The HR Dept.
Tel: 0203 817 4434