Many industries see a high yearly turnover rate, but hospitality can seem downright like a revolving door, as high as 70% according to the Bureau of Labor Statistics. It’s no wonder that many managers and business owners shy away from investing in employee training, as it just seems like a poor gamble. Indeed, it’s perfectly reasonable to fear the possibility that your trained employees might run off to your competitors. That would be bad. —But do you know what would be worse? If you don’t train your employees and they all decide to stay.
As business-magnate Sir Richard Branson said, “Train people well enough so they can leave, treat them well enough so they don’t want to.” This philosophy highlights the essence of why it’s important to foster a thriving and loyal workforce through comprehensive training and exceptional treatment.
Investing in Your Employee Training is a Necessity, Not a Luxury
The notion that training your employees is a wasted effort if they’re inevitably going to leave is short-sighted. High turnover rates are prevalent in many industries, but this fact does not diminish the value of maintaining a well-trained team. Employees who receive proper training will be more competent, efficient, and motivated. They will perform their duties with a greater proficiency, which will lead to enhanced productivity and an improved customer experience. Well-trained employees are positioned to adapt quickly to change, innovate, and contribute to the overall growth of your business. In short, training is too valuable to dismiss because you’ll have to invest in it more than once.
The High Cost of Inaction
The alternative is a workforce lacking in proper training. It’s true that your initial investment will be much lower if you eschew training, but consider the fact that untrained employees are many times more likely to make mistakes, wasting valuable time and resources. Moreover, untrained employees are less likely to feel confident and satisfied in their roles, which can exacerbate those turnover rates that we all fear. No one wants a perpetual cycle of churn and burn, as the quality of work will suffer overall, tarnishing one of the most valuable aspects of your business: its reputation.
Loyalty and Growth
Training your staff is only part of the equation, however. Equally important is that you also foster an environment where your staff feels valued and respected. When your employees perceive that their growth and well-being are taken seriously, they are far more likely to remain loyal to your company. To achieve this, you should always make sure to recognize their achievements, offer opportunities for advancement, and make sure the lines of communication between management and staff remain open. A supportive work culture will both reduce turnover and also attract top talent, which will result in the further strengthening of your business.
Train Well, Treat Even Better
The importance of training your staff can’t be overstated, even if your business operates in a high-turnover industry. Investing in your employee training will translate to more skilled, efficient, and motivated workforce, which is crucial for the sustained success of your business. Beyond this, you should commit to making sure your employees also feel that they are treated well so as to create a work environment where they feel valued and respected. To circle back around to what Branson said, if you do this right, all that investment you place in your employees will not only pay off today but also tomorrow and the day after that.
If you’re ready to build a better team, reach out to us at The Brandt Group today. Our mystery shopping programs, employee feedback tools, and leadership training courses will all combine to identify the areas in most need of improvement, measure your employees’ morale, and teach your leadership team to maintain the kind of work culture that’ll attract and retain talent.
The future of your business depends on getting this right. Let’s get started today!
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