Training new hires is an inevitable cost of running any business. No new hire comes fully equipped with every skill they’ll need to become a fully actualized member of the team; it takes time and money to boost their productivity and value. However, not all training is created equal, and unless care is taken and training methods are selected deliberately, there’s a good chance that all that time and money will be wasted. According to a recent report, large companies spend approximately $1,200 per employee on training costs, and smaller companies may spend more due to the lack of volume needed to increase cost efficiency. To maximize impact, several considerations must be made. In most circumstances, it’s wise to avoid onboarding programs that keep employees from working for days or weeks at a time. It’s better to coach them through their job responsibilities in a hands-on fashion. Additionally, it’s important to understand the value in retaining high-level employees. These employees cost a significant amount more to train and to replace. Retain top performers and train entry-level hires to keep costs down.