Written on May 4, 2012 at 8:05 pm, by HRDyn
Look at the most successful companies in the world today and you will find a common ingredient in their recipe for success, the understanding that their employees are their greatest asset. When companies develop and care for their employees their employees will care for the company and its customers. The result - SUCCESS. So, is there really a correlation between training and developing employees and profitability for the company? Let's look at some of the benefits of training:
Based on these benefits it would certainly appear that there is indeed a correlation between a company's profits and training and development. Businesses who mitigate risks and improve production and employee morale are certain to reap the rewards in their bottom line. Before implementing any new programs carefully consider if the training makes sense for the specific business and ensure that it has measurable results in terms of performance, behaviors and company goals. Tips for implementing training programs:
What do training budgets look like for most companies?
*Cost Effectiveness
*Allows a Greater Focus on Core Business
*Provides access to customizable solutions with a much smaller investment of resources than creating and maintaining in-house programs