Enter your email address for weekly access to top multifamily blogs!

Multifamily Blogs

This is some blog description about this site

Training- Luxury or Necessity?

Training- Luxury or Necessity?

Training- Luxury or Necessity?

 

When a new employee is hired, often they are required to attend a new hire orientation. Here they learn the details of what makes the company work such as the philosophy, mission statement, climate and culture. They also learn what they need to do for their jobs, proper procedures and what is expected of them. They may be given an employee handbook loaded with policies, procedures, benefit info and the like, but unfortunately for many companies this is where the training begins and ends.

As a trainer in both the Hospitality and Property Management industries, and despite my belief in the importance of training, I have encountered resistance from both employees and upper management when it comes to the importance of implementing an ongoing training program.  I have heard things like, “training will take them away from their work”, “there’s no money in the budget”, “training should be on an as needed basis, and only if an employee is slipping” or my all time favorite “training is boorriinngg.”  Many companies do not realize that having a comprehensive ongoing employee training program is crucial not only to the success of the employee but to the success of the entire company. Here are a few reasons why:

·        Engagement Training programs show your employees they are valued. Employees who feel valued, appreciated, and challenged will be more motivated to succeed.

·        Recruiting Our recruits are looking for companies today that not only offer but encourage growth and opportunities through training.

·        Retention Taking an interest in the success of your employees builds loyalty. Loyal employees that know their company believes in them are more likely to stay. 

·        Value Well trained employees are more productive to the bottom line.

·        Performance Training increases quality, speed, motivation and problem solving skills.

·        Revenue Training increases revenue with increased sales, improved customer service, and also increases referrals.

So in short, employees who understand their job and are clear as to what is expected of them are far more likely to enjoy their job, be more productive, and stay, while increasing the company’s bottom line. In my opinion, implementing an ongoing employee training program is a key factor to the lifelong success of any company.  For any training program to be successful however the program needs to be a priority and it needs to become routine. Some Leaders might consider these two aspects combined with training to be a great growth culture.