Is investing in continuous employee education worth it?

[Iqen]

Continuous Education programs are expensive in terms of time and capital and also require significant efforts to set up and monitor. Yet the payoff is potentially a more effective workforce. If anyone has this in place (even if you don't own the business) what kinds of benefits have you seen and do you think it's worth it?

 

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[Kung Fu Steve]

Continuous Education programs are expensive in terms of time and capital and also require significant efforts to set up and monitor. Yet the payoff is potentially a more effective workforce. If anyone has this in place (even if you don't own the business) what kinds of benefits have you seen and do you think it's worth it?

In my experience it has been completely worth it. I have taken my employees to conferences, helped get them certified in personal training and nutrition, lots of seminars, marketing, etc., etc.

A more competent employee for me helps everything run smoother.

Sure there's the "well, they might leave!" mentality - which is true, they probably will but I look at it as there are never enough smart people in the world - you're helping solve this problem (hehehe). AND at least they can say "I got my start with so-and-so and he trained me with all this yadda yadda"...

 

[Vigilante]

In Steve's business, where part of what he is selling is their expertise, it makes sense. The better credentialed his business --- the more business he will get.

In my business, the investments that I have done in employees education have been fruitless --- enhancing their skill set but not necessarily ever improving my bottom line. My new philosophy is if you need it --- hire someone with the experience that you need. I want to get the best people for the least amount of money possible. I have been to the exact other end of the spectrum (paid them well and provided continuing education) and it doesn't work out that well.

Continuing education is a perk that some large(r) companies provide. Wal-Mart, for example, puts key executives through Dale Carnegie which is awesome. However, in a lot of cases I think it is tough to justify the ROI.

 

[Iqen]

Thanks for both perspectives, very illuminating. Vigilante, your answer is surprising and leads me to believe that you may be choosing programs ill suited for the results you want. Maybe you need to bring things in house and design your own training (complete with periodic testing and performance reviews). It's hard to imagine a business that would not benefit incrementally from a more skilled & effective workforce.

 

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