Budget Alert: 3 Reasons to Spend Money on Training

I often wonder why companies don’t spend more time training and giving their staff opportunities for education. It is possibly one of the most important investments that you can make in both your staff and company.

I’ve heard companies say they are afraid to spend money on training and then have the employees leave without reaping the benefits of their new knowledge and the financial investment.  While that may happen, it’s a risk that you have to take.

 My mentor (Thanks, Mary!) gave me every educational opportunity that came along throughout my career. I have always appreciated this and felt valued. Not only that, I’ve been with Apartment Dynamics my whole career of almost 13 years. (Yes, I started when I was 12…) In my case, I feel grateful and loyal because of their investment in me, never considering going anywhere else.

Training is one of the best ways to invest in your team and is more appreciated than you may realize.  And there are countless benefits for your company when you advance your team’s skill sets.

Let me share a 3 reasons training is important for your company and team:

1. Training reduces risks.
When you ensure that your staff gets the training they need to do their jobs well, then you protect yourself from potential legal issues. For example, when you train on fair housing and sexual harassment then you reduce the risk of a discrimination claim or lawsuit. Equip your team to be able to handle their workload with the most up to date knowledge of laws and regulations.

2. Training is an investment.
I’ve seen our team members come back from educational sessions and conferences just beaming from ear-to-ear! Our company knows that to train means to invest. The investment of time and money pales in comparison to the benefits that pour out of your employees in their day to day performance.

3. Training is good for your residents.
Not only is training good for you and your team but it’s important for your residents too. We have communities that are full of residents needing our help throughout the day, week and month. If our on-site team has to continuously call back or email later because they don’t know basic answers to questions, then they need more training. Residents will feel more confident if you provide a team of individuals that is able to more fully meet their needs.

Training is essential if you want to grow as a company and to capture top talent. Budget season is upon us. Consider adding some new training opportunities to your 2017 budget in a way that will grow your team and enhance the mission of your company. Invest in your people and they will be more satisfied, stay longer and more equipped to run the day to day business at your sites.

Kelly Cox, CAM