Investing in your team is a smart move
Train people well enough so they can leave. Treat them well enough so they don’t want to. – Richard Branson
Employers are finding it increasingly hard to retain the talent that they already have in their business, particularly at senior management level. To resolve this, it is crucial for companies to both continue delivering regular training sessions to fulfil their employees’ full potential, but to also treat them well enough, so that they don’t want to take that knowledge they have acquired elsewhere.
In the long-term, it is much cheaper to pay for an employee to study for a masters’ level qualification, instead of giving them a salary raise, which would have to be maintained year on year, also creating an expectation for further increases in the future. For example, the CIM Level 7 Marketing Leadership programme, which equates to a one-off payment of £6,000 – £7,000, would be a much better investment, than committing to annual rises.
Funding these courses can also create a mutual benefit since the research that employers produce while on the programme can be used within your company on completion of the assignments. This means that your organisation effectively receives 18 months of marketing consultancy guidance throughout your employees’ studies. Students can also present their research to the board, which could be used to help you ensure that your company is fully up to date and prepared for the future.
Discover how to make these training investments and learn additional skills yourself at the new regional training and skills event ‘People Power’ in June. People Power is perfect for employers of all sizes and sectors, including businesses, government bodies, social enterprises and community/voluntary organisations. Learn how to recruit new talent, as well as how to maximise the potential of your current employees with the 25+ free business skills seminars that will be available on the day. You will also be able to discuss your training needs with a range of advisors and to promote your business by networking with hundreds of other decision-makers from across the North East, who will be in attendance.
Ahead of her appearance at People Power 2018 as both a guest speaker and exhibitor, the Managing Director of nesma, Veronica Swindale has explained what attracted her to the event. “My passion is learning, and I love sharing my learning with others. People are what make the world go around so to attend an event which is all about people made this conference an obvious choice”.
Talking about the benefits of studying a qualification or course with nesma, Veronica also said: “I’ll admit if I see a career progression post on LinkedIn by former and existing students, I take pride in the fact that nesma might just have played a small part in that!”
So, in the words of Benjamin Franklin “An investment in knowledge always pays the best interest” and there are some very powerful statistics to back up the value of employee training and development.
According to the Association for Talent Development (ATD) companies that invest in training programmes enjoy a 24% higher profit margin than those who spend less on training. If you want your employees to achieve their full potential at work, it appears to be one of the smartest investments you can make!
PR & Marketing Intern with nesma on the Santander University SME internship programme.
Whether it’s working on your current skill set or exploring a new area of expertise, nesma has all your marketing and communication know-how covered.