Business owners would naturally want to have the best employees on their payroll. But, it is also a reality that the best people in their jobs demand the highest salaries. Small businessmen do not normally have the financial resources to offer attractive compensation packages to these employees. Instead of fretting about not being able to bring in this handful of “stars” in their fields, you can groom your own people to become “stars” in your own company.
As things change in your business organization, there is a need to continuously train your employees to ensure that their skills are up to speed with the demands of their jobs. You need to carefully assess their current skills sets vis-à-vis your company’s core business operations. Then, look for appropriate training programs to address specific competencies. Prioritize training on skills that will enhance productivity and increase profitability.
You can either devise your own training programs or hire an external consultant to do them for you. It is recommended that you put a person or a team of employees in charge of this. Your training team should be responsible for identifying training areas, designing training programs, conducting training sessions, and monitoring results through performance indicators. You may also need to benchmark against competition. Your training team can conduct benchmarking studies to see how your employees compare with others in your industry both in terms of skills and capabilities as well as how they are perceived by your customers.
The entire process should markedly increase your employees’ knowledge, improve their competencies, and enhance their performance. When done properly, you would have a business running as you want it to and bringing in the profits that you expect. Of course, training for optimum productivity is only one factor. You need to consider and address several other factors with respect to other areas of your business for long-term success.
Image credit:
Stuart Miles – FreedigitalPhotos.Net
