Doctors spend hours a week reading up on new, emergent healthcare. Firemen are re-drilled on new and old safety procedures on a routine basis. The Armed Forces have routine physical and mental checkups for technical personnel as a matter of course. Why should a management team be any different?
Ongoing management training ensures your management team, and therefore the workers they are responsible for, stay up to date on procedure and efficiency in the workplace. They will also learn new leadership techniques, further ensuring your employees are performing in accordance with best practises. They’ll be re-affirmed of good techniques, discover ways to rectify bad habits they’ve fallen into, and begin pushing for greater productivity in their team.
1) Productivity skyrockets
The first cry against training is that employees work fine as-is. However, it’s incomprehensible for a business environment which operates by percentage points over years that ongoing investment in productivity isn’t worth doing.
Your average corporate training seminar takes one day. That’s 8 man-hours lost on average per employee.
Conversely, the average full-time employee works 2,000 hours per year. In order to make your money back from investment in training, all that needs to happen is for the new skills and techniques imparted onto your management to cause them (and those working under them) to work a tiny 0.4% faster over the course of the year.
Gaining your hours back is a basic scenario, and is supremely achievable at not much expense. Now let’s imagine there’s even the slightest breakthrough for one of your managers at their latest course.
“Of course!” they say. “I’ve been doing that all wrong! I could save a heap of time if I just cut out this unnecessary second step!”
Now let's say this manager’s new way of thinking and communication with their workforce leads to an entire 2% increased productivity for their teams combined output. Modest improvement, still, but not hyperbolic in the slightest - being taught a new industry practise or managerial technique can easily achieve much more in the right circumstances.
From that 8 hour investment, you’ve now received a payout of 40 man-hours. Multiply this across your entire managerial team and it becomes hundreds, if not thousands, of hours gained from a modest investment.
Plus, the added benefit of training managers specifically is they are in a prime position to impart their new knowledge (when applicable) onto their staff, resulting in further productivity gain and effective man-hours without any further investment in training.
2) You’ll retain core employees better.
One of the largest reasons for leaving any job is conflict with management. Anyone who has been in this position knows this is a result of being an inefficient, poorly-motivated worker, or from an incompetent, overbearing manager forcing them out.
Managerial training does two things to rectify this:
- It tells your employees they’re worth something to you, and investing in their future skillset is important. This increases perceptions of job security and helps cultivate team loyalty as they envisage a future in your company.
- It reduces office conflict by effectively greasing the system of communication between employees and the employer. A well-trained manager can be firm without being draconic, and can recognise when they’re at odds with employees before it gets to a critical level.
Additionally, continual training and leadership development can lead to avenues for internal promotions within your management team. Through training, you will always have qualified personnel who you know are a fit for your corporate environment whenever new opportunities are presented.
3) Lagging behind industry practises won’t be a problem
Developing a working culture which prioritises new advancements and techniques in the field can only happen with a flexible, adaptable workforce led by up-to-date managers.
Remaining competitive within almost any industry requires innovation, expansion, and the refining of your workflow process to achieve maximum efficiency. As new developments emerge the first adopters reap the most benefits, and increased productivity will encourage growth and employee output.
It stands, therefore, that regular managerial training not only develops skill sets, but adds supports the survival of your business as well. Regular advances in technology are happening at an exponential level; having the skills to adapt and progress productively with these is essential.
4) You’ll attract better applicants
Knowing a company treats its employees with care and invests in their future, rather than as a disposable workforce, attracts a better class of workers whenever you need to hire.
If your competitors are running a tight ship they will have fully trained staff, opportunities for internal upward movement, and employees who come out of their position more qualified than they entered it. What reason would they have to apply for anything else?
On the other hand, if you can offer a package which makes you an applicant's number one choice, you’ll get the cream of the crop before anyone else can gobble them up.