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If money is tight, training becomes a perk

Posted By Dave Simon, Tuesday, December 13, 2011

Your employees know when times are tough. It doesn’t take a rocket scientist to explain to your staff if your sales numbers are stagnant or dropping month after month. It doesn’t mean the bottom is falling out, but it could mean that adjustments need to be made.

In tighter times, for example, pay raises may go away. There just isn’t the extra profit coming in to justify giving your folks an annual increase. But that doesn’t mean you can’t still reward them.

Research from People 1st indicates that enrolling employees in training and development programs is an effective way to engage them and make them feel valued during times of austerity. In fact, their research says close to two-thirds of employees feel valued when offered training by the company. That keeps good employees on board, an important factor in your long-term success. It also keeps productivity higher, since an engaged employee is one who offers ideas and tactics that may be the new breakthrough sales technique.

It's easy to find a good source of training and development. ESA’s National Training School (NTS) offers a wide range of classes for industry professionals. It’s a win-win situation: companies reap the benefits of a well-trained, highly engaged workforce, and employees build their job skills and increase their value to the company – in addition to getting a healthy dose of self-esteem and morale.

The two most popular alternative rewards when pay raises aren’t feasible are extra days off and career development, according to People 1st. Keep them in mind as you move through 2012. If it’s a great year, you can still provide those additional incentives. But if it’s a less-than-stellar year, extra training might make all the difference in keeping your employees focused and motivated.

Tags:  NTS  rewards  training 

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