How Failing to Train Your Staff Can Impact Your Business’s Bottom Line
Often within companies, businesses and offices, there’s a mindset of ‘what happens if we spend time training the staff and then they just leave?’ There’s a fear of wasted time, energy, resources and money. However, we believe that the question you should be asking yourself is, ‘What if you don’t train your staff and they stay?’. Failure to properly train and support your staff can lead to a much bigger, long term problems which could negatively impact the trajectory of your business. Perhaps your ‘Why should we train the staff?’ attitude is the very reason team members are deciding to leave.
Two most common reasons why people leave their jobs
Below are two of the most common reasons that people leave jobs, according to Forbes:
1. People leave when they don’t see opportunities for growth
This is directly related to the level of training and support that you invest in a member of staff. Those who feel they are sitting stagnant within their career will quickly become dissatisfied and less engaged then start looking for opportunities elsewhere. The idea that you shouldn’t spend time training someone because they might leave is a self-fulfilling prophecy.
2. Bad managers
Victor Lipman’s book on successful leadership has an entire chapter entitled, “People Leave Managers, Not Companies”. When it comes to business, any employees engagement levels are directly impacted by their relationship with their manager. Again, this is a problem which can be solved by an improvement in the resources you invest in your staff. When each team member is on-boarded and appropriately trained, and effective systems are put in place, you inevitably produce successful managers.
So how exactly do you solve these issues? We have the answers below:
Onboarding
The Harvard Business Review released a report which stated that 33% of new hires start searching for a new job within six months of starting with a company. This statistic is a clear indication of the lack of effective onboarding being carried out within businesses.
Onboarding in the workplace is crucial as it creates competent employees who understand their role and how they can contribute to the team. It allows you to ensure that your new team member understands the company purpose and goals and so they can strive to help you achieve those goals. Onboarding will also ensure that your new hire feels valued within their new team and isn’t being left behind due to any confusion or lack of engagement.
Training and Development
Training is the practice of developing the knowledge and skill set of your employees- both old and new- which in turn will vastly improve the capabilities of your company. A lack of training will stunt the growth of your business and only serves to stand in the way of progress. Having systems in place to train and develop every member of staff consistently will increase productivity, reduce employee turnover and spur innovation, all of which will be massively beneficial for the long term success of your organisation.
Workplan’s Engagement Platform is guaranteed to keep your staff engaged continuously and on a path of development while helping your business consistently reach its goals and achieve powerful results. For a free consult, contact us today.
ALSO READ: Employee Retention Amid The Big Resignation
Learn about WorkPlan Learning
WorkPlan Learning can revolutionize how your organization works by empowering your people to create and share knowledge and learning aligned with strategic goals and team objectives.
Contact us for a free demo.
How much does an LMS cost?
The SaaS model is now pervasive and learning management systems are predominantly ‘cloud’ based on servers within a data centre. In the SaaS pricing model, the subscription fees are usually based on user numbers and includes the hosting and ongoing maintenance costs in one monthly fee. You can check out our pricing for WorkPlan LMS here.
Once you have a subscription for an LMS, there are some ongoing costs that you need to consider as well. Whether there are ongoing costs or not depends on your requirements and the vendors service models under the subscription agreement. I will look at the most common ongoing costs.
Key takeaways on the differences of an individual contributor and being a manager
One of the biggest challenges in becoming a manager is learning how to trust your team enough to delegate and let go. As an expert, an employee is usually self-reliant to get things done. As a manager, you learn that you can’t do everything alone. A manager has to learn how to communicate her vision, set clear goals and performance standards—and then, hand the task or project off to her/his team.
Here are some key takeaways on the differences between being an expert or individual contributor on a team, and being a manager.
6 Strategies to Maximise Employee Onboarding Success
Effective onboarding enhances employee experiences, making employees feel more comfortable into their new workplace faster. Effective onboarding also boosts employee engagement and reduces employee turnover, which leads to long-term success and productivity for the organisation.
Here are 6 strategies for utilising learning experiences to onboard new employees efficiently and effectively.
Are you ready to take your business to another level?
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In the spirit of reconciliation WorkPlan acknowledges the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respect to their Elders past and present and extend that respect to all Aboriginal and Torres Strait Islander peoples.
