One thing every business executive is paid to do is oust the opponent or competition in the market. This is because companies tend to thrive in business and marketing if they can defeat their biggest competition mostly by leveraging on their strong points or capitalizing on the enemy’s weak points.
Although these decisions are made by the partners, directors or top executives and sales persons in the company, the bulk of work is mostly carried out by associates, interns and other employees a little lower in the food chain. This means therefore that every person who receives a cheque or bank transfer from the company at the end of the month or year as the case may be is expected to be on par with the skill set required to knock out the opponent and get better Return On Investment (ROI); a level that can be easily attained through training.
Unfortunately, many CEOs, employers and business owners see employees training as unnecessary especially when the costs are part of the balance sheets of their business. They try as much as possible to undermine the power of this great medium by removing it from top priority when drafting budgets.
IMPORTANCE OF TRAINING
The impact of training on the competitive advantage of your company especially in the information age cannot be overlooked or overemphasized. However, for the purpose of this article, only a few are mentioned here.
- Keeping you abreast with global trends
Let’s be truthful for a minute. We know that the existence of globalization is making the information age a fast and competitive one. Now goods are bought and services are rendered in the twinkle of an eye on various media and people are working harder and smarter than ever before to keep up with these trends. You can’t afford to sell the same way you did ten years ago because that market has moved on. It is therefore important for your employees to get the required training to help them keep up with the fast-moving
and growing industry for the good of your company because if you decide to keep on using outdated systems and manpower, chances are you would be out of business soon. This impact cannot be emphasized enough.
- Improves employee bond and relationship
By taking a week of regular and monotonous duties, your employees get to let out steam in a stress-free environment, getting them fired up for better productivity when work resumes. Also, they get to bond with their co-workers, improving the workplace relationship for more productivity.
- Improving the long-term Profitability of the Organization
Without a doubt, about 70% of workers are undertrained for their jobs. By developing and sponsoring high-quality training, wise organizations help to improve the skills of their workers as a long-term investment to bring in quality returns and improve the profitability of the company generally.