Director Doreen Yarnold explains that while cutting staff training costs can provide a short-term boost in the expenditure column, the long-term detrimental effects could hurt the business for years to come.
Organisations and their boards spend many hours each year discussing and deciding upon capital investments that will support their operations to meet growing demands like new systems, facilities or machinery. And rightly so.
It is a strange that so many organisations do not view human capital investment in the same way.
It’s often very dangerous to stand still in any industry. Development in your people is never a cost if it is considered and planned in the right way.
Our training programmes encourage businesses to look at staff training and development as an investment rather than a cost.
We say to leaders: “What is it costing you not to get your people developed? What knowledge and skills don’t they have? What mistakes are they making that you don’t know about?”
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