Can You Afford Training?

You have thought about it and considered doing it, but how many furniture store owners have actually spent time and money on a training course for their employees?

It is tough to stay competitive these days as a furniture store. Margins are slim and there may not be many extra resources for things like training. On the other hand, good sales associates are difficult to find, turnover is high, and you need some kind of competitive edge over big box retailers. But can you afford it?

To properly answer these questions, you may need to re-evaluate the way you think about training. In our industry, training should be thought of as an investment, rather than an expense.

In the context of training as an investment, the value of any particular training course is determined by the return it creates. How do you define the return on training? It must be measured by what an employee knows or can do as a result of the training. For example, if a training course has little or no long-term effect on either the knowledge or skills of the employee, then it is of little value and therefore a poor investment. In fact, it's a waste of time and money. Unfortunately, many training courses focus on "giving information" rather than on learning, making them poor investments.

If, on the other hand, an employee knows or can do things that he/she didn't know or couldn't do before the training, then there is a positive return. After receiving some training, you could ask yourself, "What do I know, or what can I do now, that I didn't know before I took this training?" If the answer is clear, then there has been a positive return on the training investment, especially if it can be reviewed and retained over time. The greatest factor in learning and retention is meaningful practice opportunities. This is what separates information from training.

Can you afford training? In light of increased competition, perhaps the better question is, "Can you afford not to train your employees?" Probably not. In evaluating a training investment, you should consider its potential for real learning, based on how well it provides meaningful practice opportunities.