STAFF TRAINING: COST OR INVESTMENT?
“Why even bother, it’s a waste of money, just another cost that the business can ill afford. As it is the wage bill has gone through the roof in the last couple of years with the advent of Auto enrolment and unwanted increases in minimum wage, and we get little or no loyalty at all”
How many times have I listened to comments like this over the last few years from hard working business owners whose margins, and profits have been squeezed by relentless competition and increased overheads? – The Answer, more times than I care to remember.
So, against this back drop of doom and gloom lets briefly explore some of the positives of investing some time and a little money in developing your staff potential.
Whilst I perfectly understand that business owners are reluctant to pay staff more than they are absolutely forced to I am not entirely convinced that this is a good policy or best practice, surely a well-paid highly motivated and well trained work force will pay for its self by increased moral, motivation and positive feeling of well being and security. Thus, the business becomes more efficient through increased sales and margins.
I have been a long advocator of incentivising staff by setting achievable and previously agreed targets such as increased bar/food sales generated by front of house staff and increased margins in the kitchen through control of waste and portions. Moreover, staff that genuinely feel part of a valued team are less likely to want to move on resulting in increased continuity, team development and reduced recruitment and induction costs.
I fervently believe that this sort of approach creates a win, win, win situation. Staff work more efficiently and productively, customers benefit from an enhanced quality of service all of which can only lead to increased margins and profits by developing an efficient polished and motivated team.
Your staff can be your biggest asset or your biggest liability, the choice is ultimately yours!!