5 Factors To Consider When Investing in Training
- Cherry B
- May 23, 2016
- 2 min read
Many customers we spoke to understand the importance of investing in training. Afterall, training brings along a string of benefits - it makes employees feel companies are concern with their development and it covers the skills gap necessary for better performance. However at the same time, companies are also concern of the effectiveness of training and the ROI it brings.
Below are a few factors we should consider before deciding on investment for training :
1) TRAINING OR MOTIVATION?
Often, it is easiest to send someone for training when performance is below par, and hope that they get better when they are back. However, we need to consider if the individual requires motivation or training. If an individual requires motivation, sending him or her to a series of training will not help. In fact, it could make matters worse.
2) OBJECTIVES
What objectives are we trying to fulfill when we send someone for a training class? What skills gaps are we trying to fill? What purpose does this training offers - incentive or skills or both?
3) MANAGEMENT SUPPORT
We always hear that management supports the individual for training. But support goes beyond sending an individual and hoping for the best. Support includes having a conversation with the person to find out how they feel about the training, before and after the course. Support entails a real concern if the individual find such training useful and getting feedback from them. Support extends to getting the individual to share what they learned to the rest of the colleagues. As the saying goes :
"I listen, I forget.
I see, I remember.
I teach, I understand."
4) MEASURE
A great practice from many successful organizations is to identify the objectives mentioned in point 2, list down quantifiable and non-quantifiable. Collect existing information and compare this after training is done.
If you are in the B2C business, involve customer experience to see if there is a difference in customer experience.
Typically it take 3 - 6 months to start seeking results, depending on the topics covered for training.
5) CHOICE OF VENDORS
There are many great establishments offering an ocean of training courses in the market. How do you select a perfect vendor for your company? A common mistake organisations make is to engage the cheapest or only 1 vendor.
The industry offers choices of vendors - some offering "tip of the iceberg" training. Some based on specializations, and some tailor according to your needs.
Before you embark on the selection of vendors, define some of the key criteria that helps in meeting your key training objectives. You will understand that most of the time, it is not always about price.
As you can see, training is worthwhile if there are intention steps to ensure that it is really worthwhile. Meanwhile, we would like to hear from you about this article.
Cherry-O!
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