What’s the first thing that goes when we have to cut costs? Training. It has been like that for the past 30+ years. Every time things slow, training goes first. That is the last thing that should go. Slow times are great times to enhance skills so your people are getting better than the competition. Training is also a great motivator for when things are down. People know when things are slow and the potential implications on their job so they are generally nervous. When people are nervous they tend to look for organizations that are safe havens so they start looking for another job.
As an employee retention speaker and employee retention expert, people see training as the positive it is. They see it as an investment…in them. That sends the message that they are valued which is exactly what you want when they are scared. Scared people quit! People are assets like any piece of equipment. They need to be maintained and, sometimes rebuilt. I have seen punch presses running like new that are 80 years old because they have been maintained and upgraded. It’s time we start thinking about our people in the same way.
When times slow, we don’t get rid of our equipment. We maintain it so we don’t have to spend more on new equipment. It is time to rethink how we deal with training when things slow down. Slow times are an opportunity to conduct the training that we have not had time to do because we were busy. That is an employee retention strategy that will not only keep our people, but benefit the business as well.