Four reasons why training your staff will pay for itself
While fuel is one of the highest operating costs facing trucking fleets today, labor costs can also make a significant impact on a fleet’s profitability. So while you’re doing everything you can to run a fuel-efficient fleet, are you overlooking another way of trimming fleet costs – investing in your staff?
To train or not to train?
Many managers struggle with the decision to provide specialized training for their staff or not. Some drawbacks to staff training can be:
- Downtime – While staff are in training, they’re not working and that’s costing you money. It’s also an interruption to their work schedule and to your customer service delivery.
- Expense – Training can be expensive when you add up the costs of the trainer, the facilities and course material – and then multiply that by the number of staff you’re putting through training.
- Short-term value – Depending on how well staff retain what they’ve been taught or how quickly systems change, training can have a limited lifespan. Staff forget, or processes change, requiring staff to go through the training process again.
It’s no wonder then that some employers shy away from training staff, particularly in businesses where employee turnover is frequent. If a business is only getting $1000 value from a staff member there’s not much of a business case to spend $1200 on training them.
So the question remains – is it worth training your staff and how can you make sure you get the best value from your training program?
4 Reasons Why Training is a Good Investment
The first step in understanding the value of training is to not think of it as an expense but more an investment in your most important asset – your staff. Like any investment it requires an upfront cost, but it’s not long before you start reaping the benefits of your investment.
1 – Stop the Brain Drain
Providing training for your staff gives them a greater sense of job security and satisfaction. The more satisfied they are, the greater their morale, and the more they’ll contribute to your success.
Absenteeism and turnover is also reduced, minimizing recruitment and employee induction costs and downtime, while also limiting the company ‘brain drain’.
2 – Increased Productivity
Imagine how much time your staff could save when they know all the shortcuts? Now multiply that by how many staff you have and you start to get an idea of how much staff training can increase productivity. Well trained employees waste less time, money and resources and produce higher quality work.
3 – Less Supervision
Your manager’s time is valuable. If they’re constantly providing guidance and tuition to employees they’re costing you money. Training means staff need less supervision and your managers can be using their time more profitably.
4 – Happier Customers
Training upgrades your employee’s skill-set making them more flexible and able to handle a greater variety of tasks. This often improves the customer experience, as well as giving staff greater on-the-job confidence.
Improving the value of your investment
But while training has definite value for staff and for business performance, how can you maximize the value of your investment, improving the long-term benefits? One good tip is to invest in training programs instead of one-off courses.
Training programs, where an employee is taught over an extended period of time, increase the ability of staff to retain what they’re learning and helps them to stay current, particularly in an environment where systems or software are constantly changing.
What is your policy at work? Is staff training encouraged and promoted? Why not?