So you know the value of training, but you’re curious about where you can expect to see a return on your investment. Let’s take a look at the statistics that highlight why developing personnel is more cost effective than starting over with newly hired personnel.

What are these costs to you, your partners, and your clients?

• A little mistake… Even a little mistake can add up to large costs. Just 30 minutes a day spent correcting mistakes can cost $2,500 per year or more, per employee.
• Another lost sale… Missed sales opportunities yield missed revenues and profits. Boosting the knowledge and skill base of sales teams is critical to sales success. In a recent study of more than 2,600 sales organizations, 92% of salespeople are performing below expectations or need improvement. (The Sales Activator)
• No idea what happened… People don’t leave companies, they leave people. Poor management drives employees out the door. This is a loss of investment in their skills and talents. A lost employee means new costs for recruitment, training, lost productivity, and new-hire on-boarding. According to a study by Cornell University, these costs often exceed 150% of an employee’s annual compensation.
• They just seem disconnected… Less engaged personnel are less productive, less profitable, and less committed to customers. Today, nearly 73% of US employees are not engaged in the work they perform which costs the US economy $300 billion annually. (Gallup)

The time, effort, and investment required to create the content you receive with your Solutions Vault Membership in-house are equal to hiring a full-time Instructional Design team. Now you can rely on the Solutions Vault to simply the process, all you have to do is become a Member and then Select. Print. Train. It’s that easy!

DARE TO BE GREAT!
The LQ Team