Feb 19, 2019
Training - Is it an Expense or an Investment?
CFO asks "what if we train our people and they leave?"
Someone else asks "What if we don't train them, and they stay?" -
this story/set of quotes has been uttered so many times, I'm not
sure who we should attribute it to.
This week on the Catalyst Sale Podcast we discuss the question -
Is Training an Investment or an Expense? We also discuss how
to handle the objection if the person you are working with holds a
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- Is Training an Investment or an Expense?
- If it is an investment and not an expense, how can
we convince a decision maker that it is an investment?
- How can we avoid checking the box?
- From a trainers perspective, how do you help
people with this question?
- Investment vs Expense - Depends on where you sit in the
- Simmons - "Always look at training as an investment"
- Training should move the organization forward
- If I'm not leading the team or engaged in the
activities that impact the business, I may look at training as an
- Bad training is an expense -
Think about how much time people spend in bad training.
- How Do You Overcome the Investment vs Expense
- Get to the business impact
- Define what will you measure
- Establish your KPIs
- Define what will the training do
- Clarify how we will measure success
- Training is an investment - Some investments pay
off, some do not.
- Timing - how long will it take to make an
- Take a data-oriented approach.
- Know what matters to the decision maker.
- Will this thing change behavior?
- Know the desired business outcomes
- Invest in things that move the organization
- Catalyst Process
- Interview - Gather Data from Multiple
- Establish the Current state
- Clarify the Desired state
- Assess Gaps - People, Technology, Process
- Design the Solution
- Inside the organizations, we work with, our
approach and our delivery are personalized and contextual.
- Sometimes a custom approach is not worth it. Maybe
and 80/20 approach is a better fit.
- Invest in the success of your employees and your
Call To Action
- Let us know how you
are applying this content in your business.
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