Gain competitive advantage through training of personnel

Just hiring many employees for the company does not mean that such personnel will efficiently work.  Of course, every company and every HR department tries to find the best professionals.  Headhunting is very popular nowadays as business owners came to understand that employees are supreme value for a company.  But business never stays one place.  Companies are developing and reacting to market changes.  Sometimes it is very important that the company employees acquire me you knowledge and get new skills.  Sure thing that the skills are acquired during special training sessions which are organized in or outside the company.  It should be noted that training and coaching has become extremely popular in all business spheres.

This is how training works

This is how training works

However, just organizing all the training session may be not enough.  That training should be effective and efficient.  Naturally, every business owner expects to earn money before investing it.  Training is investment in personnel.  By the way, many business specialists consider investing in personnel to be the most effective long-term investment.  Inefficient training sessions will turn out to be a waste of time and money.  Besides, employees need to understand why they should undergo training and what benefits it entails.

With the help of balanced scorecard it will be possible to measure efficiency of training and track the way how strategic goals are being implemented.  Were strategic goals can one set in training?  For example, this may be improving computer literacy of the personnel or increasing professional level of salesmen, etc.

Effective training campaign

Effective training campaign

Balanced Scorecard communicates strategic vision with operational management (what is being done to reach strategic goals).  It visualizes the strategy and makes it possible to see what should be improved in training campaigns.  Balanced Scorecard uses a set of KPIs which are known as key performance indicators.  These indicators can be financial and nonfinancial.  In training both categories of indicators are quite relevant.  Two financial indicators we can refer cost per training sessions, training budget, cost per employee or expected revenue you per employee.  To nonfinancial were refer employees satisfaction, number of training sessions held, average training session time and a number of others.  It should be noted that the choice of key performance indicators solely depends on the company strategic goals.

Ultimate goal is of course increasing company revenue you.  So if as a result of the training session an employee can yield better results such training session can be considered effective.  But there is always room for improvement.

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