I recently was asked how to approach training for a smaller firm with a minimal budget for in-house training.
This is a common issue with smaller firms who don’t have the budget (both time and $$) for training, yet it is critical for their success and continued viability in keeping up with the competition.
Training can be challenging for smaller firms, there is a fine balance in the need and cost of educating your staff for the benefit of the company, however, if you do not have an education strategy for your staff you are inhibiting your firm’s growth potential.
Education strategy does not necessarily need to be onerous and expensive, a balance needs to be met between the needs of the staff and the economic impact, there is a huge amount of benefits to educating your staff including:
- Staff satisfaction which equates directly to staff retention
- Efficiency in production
- Utilization of assets (your expensive software)
Here are some suggestions for an economic strategy towards training.
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