How Seriously is Training Subject Implemented in an organization reflects that company’s commitment to excellence. In today’s economy, where service sector contributes to about 50-60% to the GDP, In spite of that, Companies shirk away from investing on Training.
The big questions that come up with regard to that why is it so?
- Training is meant for bigger companies?
- Training does not impact its revenue?
- Training is an avoidable expense?
Because of these reasons companies don’t commit to spending time and energy on Training
This thinking pushes Training to back seat and lead’s to a Tick mark Training efforts whereby there is a lot of there is a Talk about Training but no Commitment .This type of training is devoid of any passion and objective and the biggest target is to fill In the training data.
Training is an Expense vs Training is an Investment?
In a competitive service sector today , training is not an option but a must.
Customers worldwide are frequent to those companies who love to serve and take care of them. Passionately. And stop doing business with those who are laid back, and falter in meeting customer expectations.
In today’s world of diminishing loyalties and attention span, accompanied by a high churn of employees, its left to Training and re-training to get consistency. Training is more important now than ever before.
And we all know how costly it is to create a new customer vs holding on to an existing loyal customer. Investing in Training may turn out to be one of the best investments, simply for two reasons:
- More Satisfied Customer Experience & improved retention of existing customers
- Better trained employee who are equipped to provide better services
This creates a Win-Win situation,
- Training , learning and development of employee makes them more equipped to provide better services and that makes them feel more valuable
- Employees better services lead to increase in Loyal Customers leading to better revenues
Hence Training in Service Sector is not only a need but a necessity to stay competitive and holding on to your existing customers