There's No "ME" in Training, But There is "ROI"

Many people believe that our economic vitality depends on having a skilled and experienced workforce. It is being reported that too many young people are unprepared to succeed in a knowledge-driven global economy. A broad skills gap that already exists in our nation is contributing in one new report calls the “great divide” between what a worker has to offer and what employers expect and demand. The substandard consequences are real and are growing worse.

The real problem is that many of us are asking, “How do we improve the skills of future workers while developing our own talent pipelines?”

Employers must invest in a process that allows them to grow their future leaders organically. Most companies concentrate their efforts on the basic workforce readiness skills of their entry–level, lower skilled employees and, in some cases, prospective employees hoping to secure full time positions. To do such requires considerable time and expense. A recent report titled, “Why Companies Invest in ‘Grow Your Own’ Talent" demonstrably shows employers that embrace workforce-readiness training are finding promising results and an impressive and measurable ROI.

Most of the benefits noted in the report revolve around employee retention, increased workforce diversity, and greater community engagement. The real success lies in the fact that companies are successfully cultivating new generations of talent with new career opportunities, who positively impact organizational effectiveness, better known as corporate profitability.

It is time that we understand, an applicant arrives at a company because they are interested in the roles and responsibilities associated with the position and if they find the compensation package adequate, they take the position, BUT they only stick around if two other things are satisfied; what are they? 1) That their new company demonstrates an interest in them 2) There is a future opportunity for growth. Now, who doesn’t feel that training and development of your people is valuable?

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Article written by Richard J. Hohmann Jr., Senior Business and Management Consultant for Innovative Leadership, a strategic partner with Fitzpatrick, Bongiovanni, & Kelly, PC, and also a member of the Collaboration Team for Leadership Management International. Richard can also speak at your next organization’s meeting, to invite him to speak call 609-390-2830, For your business solutions click here: InnovativeLeadershipDV.com