Invest In Employees

January 27, 2018

The typical path of most small businesses and SMEs includes the start-up phase, developing a team of dedicated employees, achieving a certain amount of reasonable growth, and bringing in projected profits. A big challenge is how to continue along the path to greater success.

In addition to the obvious – strategic planning, marketing, control of cash, product or service differentiation, etc., a small business or SME must also continue to invest in its greatest assets – employees. Businesses need employees who are committed, skilled, and knowledgeable; otherwise, a small business is limited in its growth potential. Continual training is one way to invest in employees, so they become top-notch producers in whatever position they have.

Whether an owner, manager, salesperson, administrative staff, or other employee, it is important that each person continues to learn and “up their game.” Training can run the gamut focusing on such things as customer service, product specifications, marketing, managing, or inter-personal communication. A business can spend small or large amounts of money depending on the training approach taken.

Typical methods used are:

•    Discussion groups at the business
•    Formal groups with an expert facilitator on or off the business location
•    Industry conferences
•    Speaker events
•    Structured classes at a community college
•    Purchased online training courses
•    Free online college courses
•    YouTube videos

It is not only important for the business owner, but also equally important for managers and employees to have opportunities to increase their respective job skills. Training that can be applied directly to an employee’s job position is valuable for business growth. As an employee’s skill level increases, an owner or manager’s time is freed up to pursue additional ways to improve and grow the business.

The right type of targeted training can be an enjoyable and/or team building activity for employees while at the same time driving business success. At times, a business might think it is spending too much on employee training when, in fact, the reverse is true. Many businesses do not spend enough on employee training not realizing the benefit of how competent employees can help a business achieve and exceed its goals.

Almost all employees can develop additional job related skills when given the opportunity. Providing the right type of training can lead to new ideas and motivate employees with renewed enthusiasm. Employee training is an investment in a business’ future.

Posted by: 
Association of Accredited Small Business Consultants



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