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The CAW Business School
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Where Should Your Money Go?

Written by Laura Kemp

I’m sure you’ve wondered where your money is best spent?

One area in which opinion on investment varies is staff training and development. Is this a key area in which to focus your priorities or is it often just a ‘waste of time and money? 1

The research into the amount of money spent on training shows incredible increases with US spending on corporate training rising by 15% in 2013 to over $70 Billion2.

Having trained staff within your business can have many positive effects. It encourages an environment in which all staff are motivated to keep up to date with the latest standards which will allow your business the ability to provide an excellent service.

Not only can it raise staff motivation, but, by having a focus upon staff training and development, it can improve efficiency by ensuring staff are maintaining the same high standards, as well as reducing the opportunity  for miscommunication.

Whilst it can be perceived as expensive to train your staff, it will inevitably prove to be a cheaper option than to recruit new staff with the skill levels needed. The question is often asked “What if I spend money training my staff and they then leave me?” but “What if you don’t and they stay!”

Research shows 70% of organizations cite “capability gaps” as one of their top five challenges3. Therefore, training can reduce your staff turnover levels. By providing a company environment where development plays a key role it should improve staff retention, as those willing to progress are able to do so internally.

The key to successful training is to ensure it is relevant to your staff – here at CAW Business School our Accountancy and Leadership and Management courses have been carefully selected to ensure your staff can receive the most from our courses. Not only will your employee gain a recognised qualification but they will be given the skills required to make an immediate contribution towards reaching your business objectives.

The real dilemma here to consider is not can you afford to better train your staff, but can you truly afford not to invest in the very individuals that drive your business forward?

To find out more on how CAW Business can help with your training requirements call us on 01480 422060 today.

1- Bird and Cassell, Financial Times Guide to Business Training.

2 – Karen O’Leonard, The Corporate Learning Factbook 2014: Benchmanrks, Trends, and Analysis of the U.S. Training Market

3- Josh Bersin, Spending on Corporate Training Soars: Employee Capabilities Now a Priority

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