Years ago, I worked for a company where I often engaged directly with the CEO. He was a visionary leader in many respects, yet there was one area where our perspectives sharply diverged. In a meeting, I suggested that the company invest more in training its staff to keep pace with the rapidly changing business environment. The CEO, however, dismissed the idea and said: “Why should we invest in training them when they’re likely to leave in a few years anyway?”
His sentiment, though understandable, is a common misconception among many business leaders. It stems from the fear that the time, effort and resources spent on developing employees will walk out the door the moment they find a better opportunity. But this perspective overlooks the substantial value that training brings—not just to employees, but to the organisation as a whole.
The case for investing in training
- Enhancing productivity and efficiency
Trained employees are better equipped to handle their roles with greater competence and confidence. When employees are knowledgeable and skilled, they can perform tasks more efficiently, leading to increased productivity. This productivity boost translates to higher output and, ultimately, a more profitable bottom line for the company.
- Fostering innovation
The business landscape is continually evolving, driven by technological advancements and shifting market demands. Companies that prioritise training are better positioned to foster a culture of innovation. When employees are exposed to new ideas, techniques and technologies through training, they are more likely to contribute fresh, innovative solutions that can give the company a competitive edge.
- Improving employee retention
Ironically, the very concern that training investments will be lost when employees leave can actually be mitigated by the training itself. Employees who feel valued and see opportunities for personal and professional growth within their organisation are more likely to stay. Training not only equips them with the skills to succeed but also signals that the company is invested in their future.
- Building a stronger brand
A company known for its commitment to employee development becomes more attractive to top talent. It creates a reputation as a desirable place to work, which can help in recruiting high-calibre professionals. Furthermore, employees who have been well-trained become ambassadors for the company, spreading the word about their positive experiences and enhancing the company’s brand image.
- Adapting to market changes
Markets evolve, technologies advance, and customer expectations shift. Companies that fail to keep their workforce up to date with these changes risk falling behind their competitors. Continuous training ensures that employees remain agile and adaptable, capable of meeting new challenges head-on.
- The cost of inaction
While it may seem cost-effective in the short term to forgo training, the long-term consequences can be detrimental. Employees who are not trained may make costly mistakes, become disengaged or leave the company for better opportunities elsewhere, leading to high turnover rates. The cost of replacing and on-boarding new employees often far exceeds the investment in training existing staff.
A change in perspective
Reflecting on the CEO’s statement from years ago, I now realise that the question shouldn’t be, “What if we train them and they leave?” but rather, “What if we don’t train them and they stay?” Untrained employees, left to navigate an increasingly complex and dynamic work environment, are likely to underperform, stifling the company’s growth potential.
Investing in training is not just about preparing employees for their current roles—it’s about equipping them with the skills and mindset to drive the company’s future success. When employers recognise the long-term value of training, they not only enhance their workforce but also secure the sustainability and competitiveness of their business in an ever-evolving market.
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About the author
Terry Mante is a thought leader whose expression as an author, corporate trainer, management consultant, and speaker provides challenge and inspiration to add value to organisations, and position individuals to function effectively. He is the Principal Consultant of Terry Mante Exchange (TMX). Connect with him on LinkedIn, Facebook, X, Instagram, Threads and TikTok @terrymante and www.terrymante.org.
