The Benefits of Employee Training

Any organization, whether it is established and is thriving, or whether it is new to the U.S. market and still finding its way, should strongly consider the benefits of employee training.

While training definitely has its costs – both in time and money spent – it is an important investment.

Training should not be limited to teaching someone a new job or a new skill once they have been hired or promoted. Rather, training should be implemented as a regular course of business.

The Benefits of Training

  • Employees feel valued when their company invests in them and their skills.
  • Well-trained employees can improve your bottom line. According to the Association for Talent Development (ATD), companies with formalized training have a 24% higher profit margin than those that spend less on training.
  • When employees have the resources they need to do their job, their performance tends to increase, and employee retention tends to follow. According the Shift Disruptive Learning, “40% of employees who don’t receive the necessary job training to become effective will leave their positions within the first year.”
  • Training can help the organization identify weaknesses, thereby providing an opportunity to strengthen areas that need improvement.
  • Employee morale can increase as a result of training.
  • When employees are trained, output tends to be more consistent because workers can work more efficiently within the implemented procedures.

Training is a broad term that can consist of many things:

  • Training on specific software – don’t let your company fall behind technologically
  • Technical skills, like writing, coding, analysis, etc.
  • Training on products or services offered by your company – you want all your employees to be “sales people” when it comes to your products and services
  • Safety training – which is especially important if your employees are expected to work around heavy machinery or in otherwise unsafe conditions
  • Team training, which can improve workplace relationships and increase efficiency
  • Soft skills, like leadership, presentation, communication, and problem-solving

The bottom line is that it is cheaper to retain employees than hire new ones. So invest in them to ensure they stay with the company long-term and continue to add value to you and your customers.

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The Benefits of Employee Training

In our previous post on the topic, we covered some important things to remember when setting up your company in the U.S. market. Beyond operations, sales, and marketing, a manager would be remiss not to focus on how cultural differences might impact the success of a subsidiary.

The U.S. is not homogenous

Unlike several other countries, the U.S. is vast – and not just in its size. Americans tend to break up the country into its East and West coasts, and the Midwest. But there are even more segments, like the South, Pacific Northwest, the Northeast, Florida, and Texas – all of which differ greatly from each other. There are several big cities, countless medium-sized markets, and even more rural or suburban areas. Interacting with people living in big cities will differ greatly from interacting with people in smaller towns. While it would be unwise to generalize, it is best to understand the culture of the part of the U.S. in which you are doing business before having expectations.

Patience is not always a strength among Americans

When in negotiations or conducting business, Americans tend to want to just get the deal done. While many other cultures take their time, get to know everyone involved, and move along at a comfortable pace, those in the U.S. do not always see a need to drag things out. Get ready for what looks like impatience, when in reality it is just a desire to be efficient and effective.

Don’t plan on in-person meetings 

At least not all the time. The tendency for Europeans and Asians to conduct most business in person is not the same in the U.S. Phone calls, emails, and now even video conference calls are the norm. Businesspeople like to work efficiently, and don’t gather in person unless it is necessary. First meetings, larger negotiations, and important topics are generally discussed in-person. Otherwise, don’t be offended or surprised if many of your interactions are taking place remotely.

Open-minded over traditions

A positive aspect of Americans in general is their ability to have an open mind. Many other cultures rely heavily on traditions, and act in certain ways because history dictates that they should. That is not the case in the U.S. Americans tend to welcome new ideas and concepts perhaps more freely than their foreign counterparts.

That being said, Europeans tend to rely on strongly forged bonds in which trust is paramount. Loyalty is key. Americans tend to be looser and more pragmatic when it comes to doing business. They don’t necessarily need to have known someone for years to begin working with them. At the end of the day, it’s about getting the deal done.