Would you pay R5 000 for a lollipop? It is rather disturbing how many businesses we come across that don’t seem to mind doing so – metaphorically speaking, of course. Some businesses have no problem keeping a product or department afloat, a client on the books and honour an expense every single month that does not in return exceed the value invested in it. Doing this does not make business sense. If you are feeling this way about your training, then you are doing it wrong.
Training should make business sense. You should be getting more value out of that investment than the monetary value paid for it. On multiple occasions a client has boasted quite proudly that they spend 6% of their wages and salary budget on training every year, but have no clear answer to offer when we want to know what return they have enjoyed on that investment. If you do not know the answer to this question you are in fact just boasting about throwing money down the drain. Your eye should be on this measure for all expenditure in your business whether economic conditions are challenging or favourable.
So how do you ensure that whatever you spent on training contributes to your bottom line instead of detracting from it?
By Su-Mari du Bruyn
Co-founder: Adapt To Change