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Has your training and development budget been cut?
Many organisations are finding ways to manage their profit margins in this economic climate. Cutting budgets and reducing expenditure are both ways to do this. Ten years ago, one of the first areas of a business to suffer budget cuts was training and development. That however, was before companies started measuring performance indicators such as Employee Engagement. It was also before companies invested time and money in being recognised as an employer of choice. There is no question that these economic times are challenging, but all things will return to times when economic prosperity was good. This is an excellent time to really evaluate what your business needs are and what will absolutely add value to your employees and performance overall.
What I find interesting, is looking back a few years to 2001 when many industries were experiencing boom times. In 2001, the technology industry was suffering. Companies such as Cisco Systems watched as $430 US Billion disappeared from its market valuation. Such a staggering loss would have crippled many lesser companies, but not Cisco. Not only did Cisco survive, but they did so without cutting their training and development budgets for their people. In fact, their training and development usage increased at 700% per quarter for the remainder of 2001. To me it makes a lot of sense, but I am biased. I am a Corporate Trainer who relies on companies like Cisco valuing their employees by offering them tools to fulfil the basic human need to learn and grow. Does it make sense to you that Cisco would not cut their training back in such tough times? That a company that relies on having motivated, engaged employees who are able to create new technologies and tools that will be the future of the organisation’s business success will continue to invest in their people.
I think about most businesses and I struggle to find a business where the people are not the key driver of current and future performance. Can you think of a business that does not rely on having people engaged in what they do and for whom they do it? Often when I am researching organisations I spend time looking at what their mission statements and company values are. I talk to people who have used their services and sometimes I even try to use their services myself. 7 times out of 10 whilst trying to use an organisation’s services, my phone calls are not returned, I am given wrong information or something else they do gets in my way of using their services. At the end of the financial year, that company will look at their results and see disappointing figures and blame them on something external to them. Yet the real reason for poor results is not an external factor. It is 9 times out of ten, an internal factor such as the ones I briefly mentioned before. It never ceases to amaze me, the number of small to medium businesses that do not do the most basic of customer service training, team building or communications skills training for their people.
Apply this to any of your small, local shops. When trying to purchase or use their offerings, did you receive great service? Did the staff look engaged in their job? Did the people in the shop make you feel valued? How many times do you continue to get poor service before giving up and trying elsewhere? My point is, those shops will blame their poor results on the economy, especially these days. It is a wonderful excuse. The reality is that the economy is not the factor creating their poor performance. The flip side applies also. Think of your favourite shop. Why do you do business with them? Whatever reasons you came up with are the same reasons your customers will choose to do business (or not) with you.
Blame something or someone else. Perhaps this is a universal human condition. I have a sporting background. I won three Olympic medals and am a four time Olympian. I knew people who should have made it, but they never did. I have spoken to them about their thoughts on why they did not get what they thought they deserved. A common answer was that their poor outcome related to someone or thing external to them that created their poor game day or competition performance. Sport is simple. You turn up and if you are good enough you get selected or win the medal. My great Olympic coach had this perspective when asking someone how they performed at an event. He would say, “How did you go?” They would often say, “Well, we came fourth but (insert any number of excuses). We had a philosophy in my rowing team. When asked how we went, it was a simple reply, such as, First, second, third and so on. No excuses. Our result was ours. Good or bad. Is business that much different?
My role is to assist organisations and their people who want to be the best they can be. I have many ways to achieve this and I would love to discuss these strategies with you. I know I can be of value and because you work directly with me, you can afford to do great things for your people that will complement your training budget. Besides, I actually offer what most do not. 100% money back guarantee. Contact me to find out how we can achieve great results in these time of great opportunity.
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