James Caan believes that a business is nothing without the right people in place to do the work. ‘Whenever you come across a business that has an exceptional management team, you find it generally works very well and is extremely successful,’ he says.
So when you get to the stage when you are recruiting and you want the business to grow, then investing in training your staff could be a wise and logical move.
Training doesn’t always incite a feeling of elation in the minds of employers, in part due to the expense – something that small businesses and start-ups try to avoid – as well as the time needed for the taking part.
However, investing in training within your business is a vital element for success. In time, you’ll find that it will yield higher profits and will work towards achieving more ambitious company goals.
The first step is to set out your long-term plan to ensure you are investing in the right training.
Second, you need to decide whether you want initial education in the form of a professional course, or if you want to work on what you already have by taking a career progression course.
Finally, you need to work out what training format fits with your work schedule to ensure you keep the lack of productivity to a minimum. Course options include part time, weekend, full time, in-house, company specific, online, seminars, outsourced, practical and video formats. The most common choice is in-house or outsourced part-time workshops.
PICKING THE RIGHT STUDENTS
Most start-ups and small businesses are on a budget and putting money into something has to be worthwhile; therefore picking the right people to invest in is vital. Self-motivation is key. The employee has to want to progress within the business – making their job a career – thus ensuring the new skills will stay within the company.
Starting off with a basic level of education is also important – this means you can build on a solid foundation, saving on both time and money. Employing a multigenerational team will be beneficial. You can take experience from one and a more millennial mindset from another.
Be sure to use what you have. There is no reason why a talented employee can’t train fellow colleagues in-house.
CREATING A MORE PRODUCTIVE WORKFORCE
Investing in training for your employees can have many positive results, primarily retention. If your staff see that you have faith in them to progress their education, then you are more likely to hold onto them. Employees need to feel like they are moving up throughout their career.
Secondly, if potential employees see that the business puts time into their staff, then it will act as an incentive to work with you and your company. Planning long-term succession goals will be easier when you know what skills you will have in-house. Knowing your workforce’s potential capability is essential to making realistic plans.
Finally, training will help with performance. Giving your staff the room to grow and become better at what they do will always help the overall success of your business.