Interested in a 24% Improvement in Your Profit?
- May 11, 2021
- 3 min read
Written by: Chuck Bean, Executive Contributor
Executive Contributors at Brainz Magazine are handpicked and invited to contribute because of their knowledge and valuable insight within their area of expertise.
There is a saying, “no coach ever tells his/her athletes that they will stop training until they start winning.” And there is another maxim in the corporate training space. What if we train them and they leave? Well then, what if you don’t train them and they stay?
So, to the matter of training our staff and ourselves, training needs to be happening everywhere and continuously.
Consider these important points:
One – The Association for Talent Development states that companies that offer comprehensive training and coaching have a 218% productivity gain and 24% uptick in profit versus those that don’t.
Two – Training and professional development encourages individual growth and retains top talent. It causes people to feel valued.
Three – ROTI versus ROI. We all know about ROI (return on investment), but do we consider ROTI (return on time invested)? Having well-schooled staffers maximizes time utilization and minimizes waste.
Four – Training creates community. Learning is a change agent, and when people learn together, they get energized and can become lifelong friends as a result.
Imagine if you never maintained your car or your production equipment, or you never cleaned the floors and fixtures in your business? Smart operators will spend between 3% and 10% of asset value annually updating, upgrading, improving, and fixing stuff. The same logic should be used when budgeting for staff development.
There are two great ways to bring training into your organization.
One way is to determine the types of training required for your corporate growth, including soft skills, tactical skills, and strategic development.
The second way is to offer a selection of professional development options and let people gravitate towards those of most interest. What makes this interesting is that it makes training a reward and by the selection, you can see what your staff are most interested in.
At my company, we have spent 23 years bringing customized training solutions from sales training through leadership management, teamwork, and coaching. I can tell you that nothing works better at energizing staff and growing your business than having properly trained people!
Chuck Bean, Executive Contributor Brainz Magazine Chuck (Charlie) Bean started his business career at age 6, collecting golf balls at the local driving range for pennies. “I would spend every Saturday and Sunday making enough money to buy a bottle of pop or a candy bar in the concession,” tells Chuck soon after he was selling golf balls to players on the local course and even beer! Fast forward, and Chuck was an award-winning sales professional. Management followed. Moving into the paper industry, Chuck carried on with regional and then national turnarounds, eventually named VP Sales and Service, overseeing a team of 180 inside and outside salespeople, managers, and directors. Following his dream, he opened a consulting and training advisory. Chuck will tell you he has had a great ride. Besides having worked with over 400 companies and over 18,000 individuals, Chuck has consulted and guided some of Canada's biggest stars, including working as COO for one of the world's largest specialty energy service companies. Today Chuck specializes in developing strategies and delivering training and coaching in leadership, sales, communication, business value building, and teamwork. He is no-nonsense and pragmatic and has helped people and corporations succeed for over 40 years. He will call a spade a spade and work quickly to understand, address, and help fix problems, identify opportunities and identify challenges. He has developed business strategies for almost every geo-market. He has worked extensively in oil and gas, general industry, IT, electronics, dental, paper, chemical, wood products, and consumer packaged goods. He specializes in B2B and channel-type organizations. He has authored/contributed to books with Dr. Stephen Covey, Dr. Deepak Chopra, and Dr. Ken Blanchard. Chuck also owns 6 tech start-ups currently in different levels of commercialization.
