There are two concerns small business owners face in regards to training small staffs. “What if I train them and they leave?” and “What if I don’t and they stay?” The paradox keeps many owners in a state of paralysis, scared to invest resources in a fluctuating staff, where “good enough” becomes the norm, engagement stagnates and turnover increases. It’s an intimidating prospect, but investing in employees, even if it’s in small amounts, goes a long way in a small business’ success. According to Goldman Sachs 10,000 Small Businesses survey, small business owners that invest in training are more likely to report growth and higher levels of it. Because of this, more small business owners are taking the plunge into investing higher levels of resources into their staffs. Over 85 percent of those surveyed say they offer training to all or most of their employees, even if they do feel some level of uncertainty about the processes and practices of that training. Even with limited resources, those who prioritize training are those who are seeing the most success.
Small Businesses that Prioritize Training are the Most Successful