How much should I invest in training employees or subcontractors? Won they just take the knowledge and go work elsewhere?
No one can predict when an employee is going to leave. You can’t count an an employee’s loyalty anymore than they can count on yours. However, if we are moving to a more knowledge based industry, constant training will be a necessary and worthwhile investment. The government is in agreement with this prediction and is providing financial support for education to this end. Most employees and sub-contractors will consider regular training or upgrading of skills as a perk. It has been shown in recent studies, to cut down on staff turnover. The cost of losing key staff members is not only one of money and time, but also one of morale and productivity, both that of the leaving employee and his or her co-workers. In a small organization, you may have the opportunity to personalize the training to each of your employees. There may be certain expectations within your industry or within a particular job field that should be upheld. You may also wish to provide training to sub-contractors if it
