40% of employees who receive poor job training leave their positions within the first year.
Employee training and development efforts are considered to be a sure shot way to judge their employers on the amount of investment they put into their employees. More than rewards and recognitions, it is the best way to motivate your employees. Training sets a guideline for the employees, who may or may not be familiar with the processes of your company. Employee training also helps to streamline and create uniformity in the services they deliver.
Training and development spend has risen by 15% in the last year alone.
The American Society for Training and Development (ASTD) collected training information from over 2500 firms and found that companies that offer comprehensive training have 218% higher income per employee than those with less comprehensive training!
Take those global food-chains and coffee-shops for example. They claim to have same standard and cooking techniques across their branches all over the world. Starbucks is one brilliant example when you look at consistency in service and quality.
Ever wondered why a grande latte ordered at a Starbucks in San Francisco tastes the same as one ordered in New York City — and why the entire coffee shop experience seems the same as well?
Well, besides using the same ingredients and machinery, the similar experiences are the direct result of Starbucks’s comprehensive training and employee onboarding program.
For Starbucks employees, the training process never ends. It begins on their first day and continues throughout their career. They are specially trained to have a customer first approach. The charm is their service and their cheat code is extensive training.
When it comes to coffee-shops and food-chains, consistency seems to be a given. But what about the Banking sector? Earlier, Banks used to hire graduates from commerce and economics background. So, it was easier to set a perfect standard for employees since they belonged to the same stream and were given, more or less, similar kind of education and training in their colleges. But nowadays, banks hire employees from diverse sectors like students with BTech degrees or even regular graduation degrees won’t stop you from joining a highly reputed bank.
Here’s how Capabiliti’s solution lets you measure your training effectiveness with the Kirk Patrick model.
But with diversity comes the question of handling such diverse workforce. The first thing that comes to your mind when you look at a BTech student standing next to a liberal arts student is the inevitable argument they have over the upper-hand their streamss have on the other one, resulting in a clash of egos. So imagine making these people work hand in hand with each other. Challenging, isn’t it?
This is where training comes in. Banks train employees to overlook this clash of ideologies and appreciate individuality without hampering the quality of their work.
For example: The German bank- Deutsche- has branches in India. Since, we live in a brand dominated world; everyone who enters the premises of The Deutsche Bank expects a service similar to the one back in Germany.
So the first thing that these “big-brands” need to worry about when they plan to open a firm in a different location is: How to maintain their standards and cater to the expectations of the new audience?
If it were not for training par excellence, The Deutsche Bank would have lost many customers in India.
The same goes for MNC’s which promise to offer similar services and satisfaction across different branches. They train and they train and they train, until the employees feel motivated and driven towards a common goal.
The next step is to keep a tab on their progress throughout the training process. From maintaining an attendance sheet to feedbacks, all steps are crucial during the training process. And organizations that maintain a set standard for guiding their employees, have undoubtedly made it big in this competitive, globalized world.
Uniformity and brand recognition are the two key-words that drive organizations in this globalized world albeit the growing level of individuality in people. So the paradox is to maintain consistency within a diverse workforce, and nothing but proper training and onboarding is the key to crack the puzzle.
I can vouch for the fact that: if organizations knew the statistics related to training and development, they would definitely step up to the training plate. So, are you in the game too? Let us know!