When it comes to your filling senior vacancies, do you tend to invest in your existing employees through training, or do you look to bring in new employees? A new report published by City & Guilds has shown that just 54% of SMEs are providing training to their employees, with the remaining employers instead recruiting externally for more senior leadership and management positions.
But what impact is this having on your existing employees; will their productivity and motivation suffer if they believe they are not trusted to progress in the company? Could you potentially lose quality employees who take their skills to a competitor?
The same report suggested that even though 90% of SMEs feel that management and leadership skills are vital to their future success, only 20% provide this type of training for their employees to progress. So, how can your business benefit from providing leadership and management training to your existing employees?
- Existing employees already know your business.
We all know the saying that it takes more time and money to acquire new customers than to retain existing ones…the same applies to your employees. Existing members of the team will already know you, your systems, your business values and vision and their colleagues.
- Higher retention rate.
Those employees you invest in will stay with you longer as you have shown your confidence in their abilities and allowed them to progress in their careers; they will naturally feel more loyal to you as an employer. This will also set an example to your remaining workforce of the benefits that hard work and dedication can bring.
- Strengths and weaknesses.
Management and leadership training will work with the individual to help them develop their own unique management technique, and someone already working in the business will find their own style whilst also bearing in mind your company ethos. They can then work to identify their team’s strengths and weaknesses and understand how to approach them with their team. They will also know the best ways to motivate the team they line manage and how to incentivise, again staying within the company rules and expectations.
While the training itself is important, this isn’t where the development ends; appraisals and reviews are crucial to ensure your new manager’s progress is monitored and that the training is having the desired effect on your business.
Employees have a huge impact on your business; not only on productivity and consequently your bottom line, but also externally. Your employees form a part of your brand and so will affect your customer satisfaction and reputation.
Of course, training is not always appropriate and it’s only natural that certain roles will require recruitment, but before you place that job advert, consider whether training would be a better answer. If you’d like to explore the possibilities of leadership and management training, you can contact one of the Aspire Training Team consultants on 01202 551553 or email email@example.com.