Training<\/a>\u00a0pays.<\/p>\nSometimes, it\u2019s easy to underestimate just how much it pays.<\/p>\n
Consider an employee who is going to work 2000 hours for you this year. It\u2019s not unusual for an organisation to spend only 10 or 20 hours training this person\u2013which means about 1% of their annual workload.<\/p>\n
How much training would it take for this person to be 10% better at her job? If you invest 100 hours (!) it\u2019ll pay for itself in just six months. There aren\u2019t many investments an organisation can make that double in value in a year.<\/p>\n
But let\u2019s take it one step further:<\/p>\n
Imagine a customer service rep. Fully costed out, it might cost $5 for this person to service a single customer by phone. An untrained rep doesn\u2019t understand the product, or how to engage, or hasn\u2019t been brought up to speed on your systems. As a result, the value delivered in the call is precisely zero (in fact it\u2019s negative, because you\u2019ve disappointed your customer).<\/p>\n
On the other hand, the trained rep easily delivers $30 of brand value to the customer, at a cost, as stated, of $5. So, instead of zero value, there\u2019s a profit to the brand of $25. A comparative ROI of infinity.<\/p>\n
And of course, the untrained person doesn\u2019t fall into this trap once. Instead, it happens over and over, many times a day.<\/p>\n
The short-sighted organisation decides it\u2019s \u2018saving money\u2019 by cutting back training. After all, the short-term thinking goes, what\u2019s the point of training people if they\u2019re only going to leave. (I\u2019d point out the converse of this\u2013what\u2019s the danger of not training the people who stay?)<\/p>\n
It\u2019s tempting to nod in agreement at these obvious cases (or the similar case of getting, or not getting, a great new job based on how skilled you\u2019ve trained yourself to be\u2013again, a huge cliff and difference in return). What\u2019s not so easy is to take responsibility for our own training.<\/p>\n","protected":false},"excerpt":{"rendered":"
There was a really interesting article published by Seth Godin which looked at ROI on training. Although it was generic, I wondered how it might apply to Project Managers. Just how much better is the ROI from a trained PM? The article is reproduced below: Training and the infinite return on investment Training\u00a0pays. Sometimes, it\u2019s […]<\/p>\n","protected":false},"author":1,"featured_media":119329,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[20,25],"tags":[],"class_list":["post-1375","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-advice","category-faqs"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.trainingbytesize.com\/nz\/wp-json\/wp\/v2\/posts\/1375","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.trainingbytesize.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.trainingbytesize.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.trainingbytesize.com\/nz\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.trainingbytesize.com\/nz\/wp-json\/wp\/v2\/comments?post=1375"}],"version-history":[{"count":0,"href":"https:\/\/www.trainingbytesize.com\/nz\/wp-json\/wp\/v2\/posts\/1375\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.trainingbytesize.com\/nz\/wp-json\/wp\/v2\/media\/119329"}],"wp:attachment":[{"href":"https:\/\/www.trainingbytesize.com\/nz\/wp-json\/wp\/v2\/media?parent=1375"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.trainingbytesize.com\/nz\/wp-json\/wp\/v2\/categories?post=1375"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.trainingbytesize.com\/nz\/wp-json\/wp\/v2\/tags?post=1375"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}