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BlogEducationProfits Through Training: The Most Affordable Path to Success

Profits Through Training: The Most Affordable Path to Success

The Cost of Training Not Training
your People

Training has a cost but not training your people also has a cost and it is
significantly higher. In our White Paper: “Solving Our Manpower Shortages” we
state: “We solve the resource shortage by recruiting talent, developing talent,
retaining talent, and putting in place processes and practices that make us less
dependent on talent.”

These four elements are essential to maximizing your profits and ensuring the
long-term stability and sustainability of your plants and production facilities. Of
these four elements, the easiest to implement, and generally the least costly, is
training.

In the white paper, we provide a plant example, based on work carried out in
many asset-intensive companies and industries. For this example of a
500-employee plant, we were able to forecast an annual recurring gain (cost
reduction and revenue increase) of US$8 to 11 million, or US$16,000 to
22,000 per employee. Of course, training alone is not enough to achieve all
these objectives.

The white paper and our training capabilities document are available on
request. We can help you assess your current situation (or train you to do so)
and help you calculate the return on investment. We can also help your
training department establish a sensible, practical training strategy that will
contribute to your overall financial success.