Costs of employee training programs

When a lightbulb burns out, do you throw away the lamp? If you do, then you are either incredibly rich or possibly have a weird thing for new lamps I guess.

Unfortunately, when it comes to "fixing" an existing employee, over hiring a new one, managers often throw out the lamp, so to speak. While companies have a pretty clear idea of what it costs to train an employee they ignore the real question: what is the cost of not training an employee? Michael Leboeuf in his book "The great principle of management" warns of the dangers of ignoring training:.

Companies that have the loyalty of their employees invest heavily in permanent training programs and promotion systems. The problem is that many organizations see training as an expense and not as an investment. Untrained employees will, inevitably, lack the motivation and knowledge to use company resources properly, which will lead to waste, in a service industry; lack of knowledge about procedures will affect customer interaction and retention.

Because of this, your employees, your company, and your clients will all suffer. Also, training your customers is worth the investment.

Read more in this article: Take Your Customer Training Online: 6 Best Practices for Success is already around the corner and its the perfect time to reevaluate your strategies and do things differently in your company. Read on for five reasons untrained employees can lead to a weakened bottom line and inferior company.

The benefits, praise and training that successful companies give their employees are not out of pure goodness of heart. There is an actual correlation between happy employees and a successful business. The current and up and coming workforce believes in the value of training and the opportunity to advance in a position. January 5, January 6, We offer a 30 day money-back guarantee and have a world class community to help you get your course online today!

By Justin Ferriman. Posted on March 21, Training. Facebook Twitter LinkedIn. About Justin Ferriman Justin Ferriman started LearnDash, the WordPress LMS trusted by Fortune companies, major universities, training organizations, and entrepreneurs worldwide for creating and selling their online courses.

Justin's Homepage Twitter. Posted in Training. Some of the most effective businesses have specific employee safety programs, which entails holding each other accountable for safe practices, rewards for being safe, and bonuses for reduced errors. Some companies offer employees quarterly bonuses if there are no safety occurrences during that period. They try to follow protocols because they want the extra money and because their colleagues need the money too.

This has led to a team effort in safety. They watch over each other and talk to each other about being safer. In our article, Death By Medical Error we discuss the consequences of errors in the healthcare industry. Medical errors are the third cause of death in the United States, and it is often because medical professionals are fatigued, burned out, or do not have someone evaluating their work.

As a matter of fact, HealthLeaders states one study found:. Obtaining education on healthcare costs is just a part of continuous training for physicians. Furthermore, the best medical professionals have adapted as technology has advanced.

This has meant training to use technologies such as using devices that incorporate augmented reality in medical care, robots to do surgery, video chatting to provide medical advice to their patients, and much more.

Innovation and awareness are needed to address the unsustainable costs of turnover in healthcare. High performing and future thinking organizations should consider cost-effective technologies that aid in creating a culture of engagement and training. Training for stress management, clinical competency, employees wellness, and conflict resolution could build efficiencies into a healthcare organization that could save millions of dollars. Cameron, E.

Otto, N. Avoidable turnover costing employers big. Patterson, P. The longitudinal study of turnover and the cost of turnover in emergency medical services. The sales, customer service, marketing, and pretty much every other department suffers. The overall quality of your services decreases and customers will see this almost instantly. Low-quality services or products influence your customers' perception of your business.

This will dramatically show up in your bottom line. Avoid this pitfall by supporting your staff in their professional growth.

The saying "you get what you give" is not entirely accurate here! When you invest in the development of your team, the return is higher than the investment. Poor employee training can lead to low productivity, inefficiency, poor customer service, high turnover, and low-quality outputs of services and products.

The workaround is carefully screening ineffective training strategies and selecting the solution that benefits your staff and business the most. Information is power, and you have the power to help your business evolve! To talk more about your training needs and learn the best options for your company, contact Designing Digitally today!

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