The High cost of Training

Title:The High cost of TrainingWord Count:344Summary:Only the educated are freeKeywords:Train, Trainer, Training, Corporate Training,Executive Training, Leadership Training, Train,

the trainer, Mentor, Mentoring, Mentorship,Coach, Coaching, Success Coaching, Teach,Teachers, Teaching, University Faculty, CollegeFaculty, Adjunct Faculty, Adjunct Training,Strategic Plan, Strategic Planning, ActionLearning, Adult Learning Theory, Blooms Taxonomyof Learning, Bloom's Taxonomy of Learning,Blooms' Taxonomy of Learning, college,university, colleges, learning, philosophy,teaching philosophy, Adjunct experts,www.adjunctexperts.com, Train, Trainer,Training, Corporate Training, Executive Training,Leadership Training, Train, the trainer, Mentor,Mentoring, Mentorship, Coach, Coaching, SuccessCoaching, Teach, Teachers, Teaching, UniversityFaculty, College Faculty, Adjunct Faculty,Adjunct Training, Strategic Plan, StrategicPlanning, Action Learning, Adult Learning Theory,Blooms Taxonomy of Learning, Bloom's Taxonomy ofLearning, Blooms' Taxonomy of Learning, college,university, colleges, learning, philosophy,teaching philosophy,

Article Body:\"Only the educated are free.\"-EpictetusThere are countless articles and studiesoutlining the high cost of training ?each withunique approaches to measuring the impact oftraining. During our current recession there ismomentum for business?to scale back allnon-essential areas and training budgets areusually the first to go. Executives often viewtraining as a nice-to-have function, but notrequired to stay in business. I understand theirdilemma. If I were writing the check myself, Iwould be hard pressed to continue to pay fortraining when my income is less than it was a yearago.However, it is the high cost of NOT training thatshould be on the forefront of our minds,especially during a recession. During a

recession, if I am lucky, I won 抰 have to lay offany workers. If not, I may have to let somepeople go, and rely on those left behind to carrythe day until brighter times return. How do Imotivate my staff to provide our customerssuperior and even 慸 elightful?customer serviceif I 抦 scaling back? How? - by making sure I抦 giving each and every person who stays behindthe skills and tools they need to deliver.Let 抯 look at an example in terms of Return onInvestment (ROI). We train one worker for onehour. From the training he/she receives, theybecome 1% more efficient at their current job.They pick up one tip, trick, cost savings, newunderstanding ?just one simple idea they can useon their job.Let 抯 do the math:40 hours / week * 50 weeks / year = 2,000 hours/ year2,000 / year * 1% improved efficiency = 20 hours/ year of improved efficiencyThis means that 1 hour invested in training = 20

hours returnedOr, a 20:1 ROI. If you could get that kind ofreturn on investment on Wall Street, you 抎 beconsidered a god?During a recession we 抮 e all scrambling to grow,or at least, maintain our business. If you canfind a line item that can give you a 20:1 ROI, Isuggest you take it. And soon?