Ideaustry Training & Consultancy - Forging excellence is our passion.
Benefits

Benefits of customized corporate training 

Why is customized training important?

    According to the American Society for Training and Development (ASTD), investment in employee training enhances a company's future financial performance. 

    In a study done by Laurie J. Bassi, entitled: ” Profiting From Learning: Do Firms' Investments in Education and Training Pay Off? (2000).  It was found that firms investing US$1,500 per employee in training compared with those that spend US$125 experience an average of 24 percent higher gross profit margins and 218 percent higher revenue per employee.

    Motorola calculated that every dollar spent on customized training yielded an approximate 30 percent gain in productivity within a three-year period.  Motorola also used the customized training to reduce costs by over US $3 billion and increase profits by 47 percent (source: Tim Lane et al., "Learning to Succeed in Business with Information Technology," Motorola).

    Nobel Laureate Gary Becker, professor of economics and sociology at the University of Chicago, was of the view that while human capital of employees were a major asset to their companies, it was also a depreciating asset that needed continuing investment.

Benefits of customized staff training:

    So far, from the feedbacks given by our clients, the following benefits have been observed from the customized staff training and team building:

    1.   Employee behavioral improvements: Clients reported an improvement in staff attitude, motivation, leadership and communication skills.

 

    2.    Employee performance improvement: Clients reported an improvement in the quality of the solutions generated in response the various problems encountered. They had also reported an increase in customer service satisfaction.

 

 

Resistance to customized training

    For managers who are skeptical to customized training programs due to past experience with little or no returns. We have found that when we ask who is to blame for poor performance of employees and business, the line managers tend to lay the blame on the human resource department for the poor hiring selection. But when you ask the human resource department, they blame it on line managers for poor management skills.

    Ask us and we would say, the “Axe”.

    “What does an “axe” got to do with this?” You might be asking

    Now that we’ve got your attention, Let us tell you a small story.

    Once upon a time, a very strong woodcutter asked for a job from a timber merchant, and he got it. The pay was good and so were the working conditions. For that reason, the woodcutter was determined to do his best. His boss gave him an axe and showed him the area where he was supposed to work. The first day, the woodcutter brought down 18 trees “Congratulations,” the boss said. “Carry on that way!”.

    Very motivated with the boss’s words, the woodcutter tried harder the next day, but he could bring down only 15 trees. The third day he tried even harder, but could bring 10 down trees only. Day after day he was bringing down less and less trees. “I must be losing my strength”, the woodcutter thought.

    He went to the boss and apologized, saying that he could not understand what was going on. “When was the last time you sharpened your Axe?” the boss asked. “Sharpen? I had no time to sharpen my Axe. I have been very busy trying to cut more trees for you.” – Steven Covey, 7 Habits of Highly effective people

    If your employees or staff are working hard without proportionate results, it is time to examine your employee’s ‘Axe” and sharpen it. In today’s highly competitive business environment, the gap between existing capabilities of employee and required capabilities to compete in the market place widens at an exponential rate annually.

    As Jack Welch, former Chairman and CEO of General Electric noted, “if the rate of change inside an organization is less than the rate of change outside the organization, their end is in sight.”