Training is a capital investment, not an expense.
Let’s say you had a building and you remodeled it – you’d call that a capital investment.
In my business that building may cost 2% of your revenue annually. But payroll – that would be 40% of your revenue.
Human capital.
So investing in training to make get those people to operate at a higher level, make fewer mistakes and rework, and be more confident and cheerful employees really is a great investment.
We have a small army of people dedicated to training, including much of my time.
What about you?
Hhhhmmmm…. Interesting way to look at that!
Recently I was reminded of just how extremely important it is to train someone properly and set clear expectations right from the start. I was also reminded that it’s important to keep a finger on the pulse of those you lead daily. You may get lucky enough to start over with training, if that is the case, you’ll have a lot of ground to make up.