Cont… On Business Review USA, Greg Crabtree describes how he determined what core work areas employees needed to be successful in at his CPA firm. Crabtree decided to “grow his own talent” by hiring for personality characteristics rather than skill sets and incorporated a 70/20/10 training philosophy. New hires spent 10 percent of their time training in a classroom, 20 percent with one-on-one mentoring and 70 percent of their time on their own to see what they could do.
Crabtree’s method saved the company money and married the firm’s rate of growth to the development of its employees. Crabtree believes that new hires don’t have unwanted baggage or experiences to unlearn.
eHow writer Cynthia Gomez thinks it may be more useful to train your present employees rather than new hires. She thinks boosting performance among average or below-average workers with training can boost productivity and morale and you’ll save on advertising, interview time and basic training costs. Gomez points out that replacing an employee can cost one and a half times the annual salary of the existing employee.
Your present employees already understand policies and procedures so you don’t have to take the time to teach these. And firing and replacing workers can only lead to lowered morale and commitment on the part of other workers. Offering training and development shows that you appreciate your workers and respect their contribution and potential.
Ben and Andreessen Horowitz believe that good training can make all the difference in the world for your employees and company. When Ben was an executive at Netscape, he crafted a script of his expectations for product managers and was pleasantly surprised to find that managers he had secretly deemed hopeless then became effective.
Your employees are your biggest asset, no matter what your business produces. And good training can greatly increase productivity. Horowitz explains that just three hours of preparation for a series of four lectures each, a total of 12 hours time on your part, can increase productivity in 10 employees. Even at a one percent increase, this results in what 200 hours of added work productivity in one year.
Lack of proper training can cause small problems to turn into big messes in terms of quality while good training results in employee retention. Horowitz researched why employees left Netscape and found that most often, workers didn’t feel that managers cared about employee development and when workers didn’t feel like they were learning anything, they had little incentive to truly commit themselves.
What kind of training do you offer your employees? Do you build from within or do you look outside your company for people you can believe will hit the ground running? Whether you’re looking for new hires or looking for potential in the employees you already have–always hire for personal attributes and train for specific skills.