For a lot of entrepreneurs, training and development for their staff is something optional that they might as well do without if they hire the right people. Such a viewpoint could be costly for your business and the bottom-line both in the short term, as well as for the long term success of your business. People development is one of the reasons why your competitors are slowly pulling away from you in spite of the fact that you are making tremendous investments in building your business and your market. If you are not investing in the people that make your company work, you will fall behind however much you try to get other systems in the business right.
A lot of companies tend to ignore people development because they consider it as an unnecessary expense in the business when they are trying to cut down on costs as much as possible. Part of the reason for this is that in many companies, training and development does not yield any immediate measurable result for the business. It is simply money that is going out of the business. Unless training is focused at producing targeted results, companies will continue see employee development as unnecessary business expense.
Without the right training partner to help the businesses unlock the numerous benefits that can emerge from the training programs, businesses see themselves continuously sending their staff to costly courses without any idea on what to expect from these training programs. There is no result to measure or a return on investment that will justify such an expense, and they tend to be quite costly too! So is it really worth it?
People development can deliver significant value for the business when it is done right. For businesses to succeed in this endeavor, they ought to treat training the same way they treat their capital investments in the business. A lot of businesses generally have a casual attitude towards training and development and this is one of the contributing factors for failure in the business. Businesses must give very thoughtful consideration on how they are going to derive value from the training program and get a return on investment that is acceptable.