One pitfall organizations may face is that they can fall prey to a laissez-faire attitude toward training. At small companies especially, where resources are usually constrained, leadership assumes that employees will be able to pick up the skills they need to succeed as they go. However, this attitude is not limited to startups. Large organizations have increasingly neglected formalized training programs due to the changing nature of the workplace and the constantly growing rates of turnover. Yet is this attitude toward training helpful? Admittedly, it will save resources in the short term, but those short-term savings rarely translate to long-term gains. According to HR Magazine, companies that invest a mere $1,500 per employee annually on development programs earn 24 percent more in profit than organizations that do not invest in training. What’s more, according to ATD, employees who are well trained bring in an average of 218 percent more income than employees who work for organizations with less aggressive and comprehensive training approaches. As training levels increase, employees are generally more willing to take initiative, more interested in learning new technologies, and demonstrate an eagerness to increase their productivity for the betterment of the organization.
Short-Term Savings Don’t Cancel Long-Term Benefits of Training