Training and Business Development Solutions
News Headlines
- New resources so that teams can do their jobs more efficiently, more collaboratively, and with more emphasis on goal achievement and results.
- Solid and meaningful retention tools that build loyalty. When a company demonstrates it values its people and is willing to invest in them, the outcome is often loyalty and employees who choose to stay.
- A way to integrate personal and professional growth into organizational culture. When you have an employee with historical knowledge of your company and a strong skill set, and then you invest in them, you can position them well for future promotions and career advancement opportunities.
- An opportunity to reduce recruitment costs. As a general rule of thumb, a turnover will cost a company 1.5 to two times an employee’s base salary, to replace them.
By: Minah Woo, Associate Vice President of Continuing Education and Workforce Development, HCC
In the midst of the COVID-19 pandemic, the workplace has seen a significant surge in turnover and resignations. People have become quick to move on to something they perceive to be better. Many have been known to make a move when one or more of three opportunities are at stake: higher pay, more flexibility, or increased opportunity for career advancement and professional growth. So, let’s consider just how impactful an organization’s investment in training and professional development opportunities could be, as a strategy to keep good, solid employees in place and happy, right where they are.
First things first … training and professional development is in fact an investment. And it requires a budget. For many managers, budget season is the time of year when many difficult choices need to be made: what to keep, what to cut, and where to allocate dollars for the highest level of return. Too often, the training and professional development budget line is viewed as a “nice to have” rather than a “must have” expenditure. The reality is that training and professional development should be among the last line items to be cut – especially these days, when maintaining a solid and committed workforce is more challenging, yet also more important, than ever before.
Training and professional development gives companies:
I often hear from business leaders who want to work training and professional development into their annual budgets, but they just can’t seem to find the extra funds. I offer a recommendation that takes them back, in some cases:
Consider reducing the recruitment budget and reallocating those dollars to retention efforts, instead. Build and evolve your company from within, by creating new opportunity for the people who are already part of your team, and who have a vested interest in your growth!
I also have had many conversations with business leaders who see the value in training and professional development, but simply don’t know where to begin. I remind them of the great services we have available at Howard Community College, through Training & Development Solutions. The first step in our process with new clients (or former clients with new goals) is to schedule a comprehensive Discovery Session. It’s a deep and detailed conversation, allowing a prospective client to share where they are versus where they want to be. We talk about goals and challenges, opportunities and approaches, so our team can build a training program for each client that is customized and outcomes-based. Best of all, our Discovery Sessions are offered at no charge. We can help you map out a plan that will produce a positive and valuable return. Click here to schedule a Discovery Session with us.