The Importance of Employee Development
Learn why creating formal employee training and development strategies is essential for the continued success of your business.
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May 1, 2005
Many entrepreneurs seem to view employee training and development as more optional than essential...a viewpoint that can be costly to both short-term profits and long-term progress.
The primary reason training is considered optional by so many business owners is because it's viewed more as an expense than an investment. This is completely understandable when you realize that in many companies, training and development aren't focused on producing a targeted result for the business. As a result, business owners frequently send their people to training courses that seem right and sound good without knowing what to expect in return. But without measurable results, it's almost impossible to view training as anything more than an expense.
Now contrast that approach to one where training's viewed as a capital investment with thoughtful consideration as to how you're going to obtain an acceptable rate of return on your investment. And a good place to start your "thoughtful consideration" is with a needs analysis.
As it relates to training and development, a needs analysis is really an outcome analysis--what do you want out of this training? Ask yourself, "What's going to change in my business or in the behavior or performance of my employees as a result of this training that's going to help my company?" Be forewarned: This exercise requires you to take time to think it through and focus more on your processes than your products.
As you go through this analysis, consider the strengths and weaknesses in your company and try to identify the deficiencies that, when corrected, represent a potential for upside gain in your