We’ve all heard this one before, the CFO says to the CEO “what if we train our employees and they leave?” to which the CEO responds, “what if we don’t and they stay?”
The Corporate Dilemma is almost always development-based– and requires a platform that can help businesses hire the right people. That is, people that benefit most from your company training. When you can find and hire the right candidates faster, you can spend valuable resources where it matters: investing in those hires that will want to stay. To get us to that finish line, let’s start with identifying the problems the CFO and CEO need to overcome.
The CFO Perspective
The CFO in this conversation, coming from a financial perspective, is looking to cut costs and increase productivity. The concern lies in investing thousands of dollars into training staff members who have to take time away from work to participate and then watching them leave as they reach the point of competence. Yet, in this day and age employees are looking beyond just pure compensation and toward the overall benefits of their employment. If this CFO had their way it would halt the business’ ability to recruit and/or retain the best talent, ultimately hurting productivity. Some people will take their new skills and move on, but that is only a problem if they do so before you have got your ROI payback.
The CEO Perspective
No business wants to be known as a training ground for its competitors. The CFO’s concerns about investing without return aren’t completely wrong, however, to retain a staff of unmotivated and knowledgeable workers is not the answer. If no attempt is made to properly train the workforce the business will never move forward and motivation will fail, giving the competition even more of an edge.
Simple, Effective Training for All
Effective training ensures that your employees possess the knowledge & skills to have an impact on your bottom line and therefore create a tangible ROI as soon as training ends. Training courses that enrich employees personally and add a new skill set don’t immediately make employees think “great now I am off to get a new job!” Instead, they feel invigorated and look forward to applying the newly-acquired knowledge to their existing role, increasing job satisfaction. This ultimately creates a feeling of gratitude and loyalty to the organization that felt that they were worth the investment.
So, the next time you are thinking about the training needs of your business ask yourself these questions: Can I afford to take an individual off the daily deliverables of a project to train them? Can I afford to pay for the training course? How am I keeping my staff engaged and ensuring they retain the knowledge? What type of tangible ROI am I looking to gain from training my employees? In order to ensure employees are receiving effective training consider adaptive training providers who allow you to apply what is being learned between short and engaging sessions. Avoid courses that teach dry theory from a textbook or sentence your staff to death by PowerPoint. Do this and the CFO/CEO debate becomes redundant!
FIT’s (Fit-in-Test) Talent Acquisition and Talent Management Solutions are specially designed to work with your team. Using our proven Learning Management System (LMS) for onboarding and new hire training, test customization that curates curricula to your organization’s essential talent question strategy, and FIT’s robust talent acquisition engine, FIT easily integrates into your organization. In conjunction with our robust data reporting tools, FIT can create, launch, and manage an unparalleled hiring solution for your team.
FIT combines all our performance hiring tools to provide you with a best-in-class workflow to fit your retention strategy. Contact us now for a free consultation today!
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