We spend the first 18 to 25 years of our lives immersed in education and training. We are required to get an education, and for some we choose to further this education once the required part is over. Our society pays billions of dollars to educate the young. Families pay $100,000 to see their children get a college education. Companies hire the brightest and most talented people to improve the business.
It all sounds great until we realize that the vast majority of companies fail to continue the education and training of their employees. They go out of their way to get the best, but then they fail to invest in keeping these people the best. Many companies look at training as a cost that gives little return.
Training should be one of the key investments a company makes. Research shows that training drives company profits and share value. I have found that typically only 15-20% of companies have a budget for education and training. Do you have a budget?
A strong education/training program provides the following:
- Higher company profits
- Recruitment tool
- Decreases turnover
- Higher shareholder returns
- Individual growth
- Increases business innovation
Smart companies realize that education and training is a must in todays environment. The world is changing at an incredible rate - so you would be advised to make sure that your employees are keeping up. Make the education and training investment today. If you do not, you may not be around tomorrow.
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