- Reading time: 4 mins
- Marketing Strategy
When was the last time you invested in training your employees? By investing, I don’t necessarily mean money. Maybe it requires time and effort, or simply diverting your attention from something that seems more important at the time. Investing in your employees may at first seem counterintuitive. If you train an employee or provide them with professional development opportunities and they take advantage of them, they may then leave your business to work somewhere else.
“When it comes to employee training, some small businesses are torn. They want their workers to be well equipped and productive, but they fear that these newly trained folks will desert them for higher-paying jobs at larger companies. That’s a narrow view, and a potentially dangerous one. Companies that fail to develop their employees could be doing damage not only to morale, but to the bottom line as well,” the Huffington Post reported in an article titled “Not Investing in Employee Training Is Risky Business.”
Consider this: “U.S. organizations spent $164.2 billion on employee learning and development in 2012,” according to the Association for Talent Development (ASTD). “[D]espite a continuously changing economic environment, organizations remain committed to training and development. Senior executives understand that a highly skilled workforce is a strategic differentiator. They are investing in the development of their employees and using technology, instructor-led training, and blended solutions to effectively meet training challenges.”
The Huffington Post pointed out a few different studies that showed the positive results of investing in professional development. These included a report by the ASTD that revealed that “companies that offer comprehensive training had 218 percent higher income per employee than those with less comprehensive training, a 24 percent higher profit margin, and a 6 percent higher shareholder return if the training expenditure per employee [increased] by $680.” This may not seem as realistic if you’re a small business owner, but here are some additional things to consider:
- Professional development helps increase the knowledge of your team. Increased knowledge makes your employees more effective at their jobs and increases their confidence.
- You will retain your employees and attract others to work for you. When you invest in your employees, it will make them feel appreciated and will increase their appreciation for their job. They will enjoy working for you and tell their friends about it. Professional development opportunities that are part of your benefits may also attract new talent.
- You boost employee satisfaction. Employees that are happy to come into work every day will serve you and your business well.
Thankfully, if you’re a small business owner in Bangor, there are a variety of organizations that offer opportunities for professional development. Even better, these opportunities are oftentimes free. Eastern Maine Development Corporation in Bangor, a non-profit, provides Business Services, Community Services, and Workforce Services to greater Bangor. These services include free seminars, several of which are being conducted by Pulse employees. Other organizations such as the UpStart Center for Entrepreneurship in Orono, the Bangor Chamber of Commerce, and the Union River Center for Innovation in Ellsworth also offer opportunities for professional development. If you’d like to invest in professional development for your marketing staff (or yourself), pencil these seminars into your calendar:
How the Facebook News Feed Change Will Affect Your Business—And What You Should Do About It presented by Cintia Miranda:
Feb 9 from 10:00 am to 11:30 am in partnership with the Bangor Chamber of Commerce at Machias Savings Bank in Brewer (FREE)
Feb 22 from 12:00 pm to 1:00 pm at Upstart Center for Entrepreneurship ($10 fee)
March 1 from 6:00 pm to 7:30 pm at Union River Center for Innovation (FREE)
March 7 from 8:30 am to 10:00 am at Eastern Maine Development Corporation in Bangor (FREE)
How to Create an Effective Facebook Advertising Campaign with Ads Manager presented by Ally Scott:
March 14 from 8:30 am to 10:00 am at Eastern Maine Development Corporation in Bangor (FREE)
Writing Compelling Digital Copy presented by Shelby Hartin
March 21 from 8:30 am to 10:00 am at Eastern Maine Development Corporation in Bangor (FREE)
Google Analytics and AdWords Basics presented by Cam Amoroso
March 28 from 8:30 am to 10:00 am at Eastern Maine Development Corporation in Bangor (FREE)
We look forward to seeing you there. Interested in learning more about a topic not listed above? We provide custom training solutions to businesses of all sizes. You can learn more on our website at Pulse Academy.