A training program, aside from being a way to continually dispense needed information to your employees is also one of the most effective methods for gaining information about how to improve company infrastructure. It is a safe environment for workers to share thoughts, feelings and ideas on how to improve the company. In addition, training – when done properly – affirms employees, helps them to develop a sense of loyalty to the company, reduces turnover and creates a prime opportunity for building consensus.

Training and development is an investment, not a cost.

Fortune 500’s lists on top companies, Best Small Businesses, Best Companies to Work For and Best Bosses have repeatedly displayed interest in employee satisfaction as well as training and development. Edward Jones, a stockbrokerage out of St. Louis, MO was rated #1 for the second consecutive year on Fortune’s “100 Best Companies to Work For.”

According to Fortune it spends 3.8% of its payroll on training, with an average of 146 hours for every employee, and new brokers get four times that much. When asked why it spends so much on training managing partner John Bachmann replied, “In order to grow, you have to be trained or you get trapped in the present.” One administrative assistant at Edward Jones was quoted by a Fortune journalist saying, “I’ve never experienced working for a company that has so many satisfied employees.”(#)

A training program is an ideal starting point to take action to decrease turnover, improve employee performance and initiate loyalty. It is also a strong foundation for developing affective communication within the company or organization. If you have no training program currently established, start with an orientation training program or look to your local university or community college for training opportunities. Start a training library by ordering books, videos and periodicals that address competencies you want to develop in your staff. Beginning or improving a training program shows employees that you care.

#. Fortune Magazine, January 20, 2003 Issue: Summary on Edward Jones – Ann Harrington

Mindie Burgoyne is an Organizational Development Consultant and owner of Lowershore.net, a Maryland Business Development Company. She has assisted small businesses and Fortune 500 Companies in business development, product development, staff management and leadership training. www.lowershore.net. info@lowershore.net

 

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