Be Prepared - Why you should invest in
training even when times are tight
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It’s practical for any business to
keep a careful eye on its costs and particularly important during
tough economic times. When business is quiet, training is
traditionally one of the first areas to take a cut, but that may
actually be a short-sighted move. Let’s take a look at why it makes
sense to invest in the right training for your staff; how to make
sure it offers good value and how training can be the basis for
long-term business success.
It’s all about
budgets
When times are tight, cutting
training budgets may seem like an easy option to reduce costs. But
let’s consider the flip side for a moment. Think about when times
are good. When business is busy, how difficult is it to schedule
training with your employees working. Now, thinking positively, as
the economy begins to pick up again, which businesses are better
placed to take advantage of the upturn? Those with a highly skilled
and motivated workforce, or those just getting by with minimal
resources?
It’s about your business
future
Now is a good time to take an
objective view of the skills and resources you already have within
your organisation. What qualifications, talents and objectives do
your staff have? Are there areas that could be developed to add
more flexibility to your business? Start by making the most of your
existing resources. If you already have experienced people, can
they pass on their skills through training, or provide work
shadowing for less experienced staff? Everyone who takes part in
some kind of training event has potentially got something to bring
back to help others in your business. And get smart about training.
If you have several people to train, it’s often more cost effective
to ask a trainer to visit your business, rather than adding
multiple travel expenses. Don’t forget, training doesn’t have to
mean classroom courses. Consider self-study, online and other
options too. Remember, it’s not just your business that may be
feeling the pinch. Training providers may be feeling it too, so
it’s a good time to negotiate discounts or take advantage of
reduced price training.
It’s about your
people
Staff who feel valued by your
organisation are motivated and likely to perform better, in turn
adding value to your business. Providing useful, focused training
and development is key to that motivation. If you show faith in and
help to develop your employees, even in tough times, you’re more
likely to be able to retain those skills when things pick up again.
And while businesses feeling the pinch may be looking at reducing
staff numbers or working hours, there’s the converse argument that
recruiting during a recession can make sense. It can be an
opportunity to attract good, well-skilled people who have been
forced to ook elsewhere due to restructuring.
It’s about
leadership
Do you have the skills and
resources you need for your business now? How about in five years
time? Are there key people who you couldn’t do without? Do you have
roles it would be tricky or expensive to fill in future? You may
have skills gaps now, but could you use this time to fill them and
develop the skills you’ll need to support and advance your business
both in the short and long term?
It’s easy to lose track of the
bigger picture when business is busy. So now could be the right
time to consider your future, particularly if the economic downturn
is prompting you to expand your options or take a new direction.
Investing in career progression is not only a motivating and
productive force for your staff, it can help your managers ensure
that they’re well equipped with the right structure, skills and
people to move forward as business improves again. Do you have the
skills and resources you need for your business now? How about in
five years time?
Return on investment
For any HR team, the trickiest
aspect of managing training can be justifying the cost. Of course,
for some industries, training, especially in health and safety
procedures is essential. But any kind of employee development can
add value to your business,
providing you chose wisely and
align it with your business objectives. It’s important to assess
each training activity and its value to the business. Once you
understand the skills you already have within your business, you
can identify those you need to progress. It’s also important that
training helps you meet your business objectives. Courses and
training events may be popular with your employees, but being able
to demonstrate how they add value to your company is a better way
of securing your budget. This could range from simply being able to
see how many people have attended a particular training event, to
evaluating its value and effectiveness. Having that kind of
information at hand helps you keep track of your actual training
spend and balance it against your budget plans.
Reduce the admin
burden
Getting smart with your
training means getting the best value from your budget. After all
it makes no sense to book training for 20 people only to discover
only three can make it because the rest are on holiday. Set targets
for the minimum and maximum number
of delegates to ensure you get
a good return on your training investment. Training can place many
day-to-day demands on your HR team, but it’s possible to find ways
of working more efficiently. Even simple things like using a set of
templates for standard communications such as joining instructions
and course details can help reduce the amount of work that’s
duplicated. By reducing the amount of repetitive administration
tasks, your HR professionals gain more time to add their value and
expertise where it’s most effective. This is particularly important
if you have to deal with redundancies or changes to working
conditions. It’s important to assess each training activity and its
value to the business. Once you understand the skills you already
have within your business,
you can identify those you need
to progress.
You don’t have to do it
all yourself
If all that sounds like an
awful lot of additional work for a hard-pressed HR team, it doesn’t
have to be. Training management software can help you manage some
or all of these tasks quickly and easily. From simply organising
and booking relevant training, to succession and leadership
planning, there are tools and reports to help you organise,
evaluate and budget for all your training needs.
Training makes good
business sense
Even when times are tough, it’s
important not to underestimate the value that the right training
can add to the future success of your business. It helps your
employees feel motivated and valued, and helps you maintain and add
new skills to your business mix. With the right people with the
right skills and right attitude in place, your business is well set
to take advantage of future opportunities for success.
Sage (UK) Limited
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OX28 6FF
Telephone 01993 862 181
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Website
www.snowdropkcs.co.uk
Email snowdropkcs@sage.com
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1045967 and with its
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© Sage (UK) Limited 2009 10/09