Company Formation Staff Training and Development

Share

In an economic downturn, many small businesses are looking at ways to reduce costs. As a consequence, investment in staff training and development has reduced. Allocating resource into staff training – the results of which are largely intangible – can be seen as an unnecessary expense in these difficult times. Especially if you are a recent company formation.However, investing in training and development can also play an important role in your company’s future growth.

Why should you do it?

The school of thought that advocates the benefits of staff development, suggest that investing in training creates a responsive and consistently evolving organisation which is much better equipped to deal with the demands of increasingly dynamic market conditions.

When you consider it like that, you can see why many organisations feel compelled to start a training strategy. However, staff development and training is a significant investment and therefore it is important it is planned strategically.

Establish your Training Strategy

To ensure you maximise the benefits of your company’s staff training, it is important that it is developed alongside your business and growth strategy; what are your future objectives, what does your market currently demand and what will it demand in the future? Once you have established the objective of your training strategy, the next stage is determining what skills and experience you need to achieve them.

The government are currently championing staff training and development in small businesses as a part of developing a more competitive economy. Therefore, there are many resources available. Also, don’t forget to ask your employees what they think about the skills they need to develop, to be a part of moving your company forward.

Share

Leave a Reply

Your email address will not be published.