Often, we see that employee training is the first to go when companies start battling financially. However, there is never a good time to cut ties with training. The most crucial time to get your staff training in check is when revenue is slow and optimism is low. Your employees are the very people who can support your business to success, and cutting their development from your budget will negatively affect your business growth in the long term.
3 Ways Premium Training Can Boost Your Bottom Line
Quality training optimised for your business’ specific needs cannot be replaced by in-expensive and generic online courses. How will you track progress amongst your staff and measure the effect it has on your ROI? You simply can’t.
Our award-winning content development house – via the Fuse Learning Experience platform – makes it possible to record your employees’ individual skills development – providing you with resources to track how it corresponds with the growth of your business.
Let’s take a look at how choosing an established training programme can boost your company’s success:
Strengthen your sales
Our employee development training is centered around preparing for future customers. How can your team deliver greater value? How can they enhance customer experience? These are questions that will help guide their training.
Employees need to submerge themselves into the needs and wants of their customers in order to fully understand what is required from them. From there we look at how to equip your staff with the necessary skills needed to deliver above and beyond expectation.
These innovative solutions are what draw in new sales and convince potential customers to choose loyalty with your brand.
Reduce employee turnover
According to research by the Lorman team, 59% of millennials claim that skills development opportunities are extremely important when deciding whether to apply for a position. This impacts the quality of candidates you have within reach.
Not only that, but research also states that organisations with poor onboarding processes are twice as likely to experience a high employee turnover. There is statistical proof that companies who invest in professional training for their employees are more likely to experience a high retention rate.
Influence revenue growth
Companies with a customer experience mindset increase their revenue 4-8% more than competitors without a customer-centric focus. This proves that customer service directly translates to a higher ROI.
We have come alongside a wide range of companies who have realised the importance of prioritising skills development training, and we have seen the effect it has had on their revenue first-hand:
- For a FMCG, we cut food wastage by 18%, thereby increasing profits.
- In the automotive sector, we helped improve customer satisfaction scores from below par to an increase of 35%.
- For a drive through fast food chain, we improved throughput time at peak periods by 37%.
- And for a leading fashion retailer, we reduced their training expenses by 26%.
Does your company need training over multiple sites, but you aren’t sure where to invest your efforts so that your business gets the best return? Summit offers an initial on-site audit of your company’s status so we are able to create bespoke learning programmes tailored to your business and your employees’ specific needs.
Find out more about how you can be proactive in reaching your company’s peak performance.