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Is there a Return on Investment with your training costs?

by mikemack on September 1, 2015

“To train or not to train”, that is the question. Well, there are actually more questions to ask yourself. Can we afford to train our team now in the current economy? Will our sales/revenue go up if we invest in a sales or customer service training program with our team? Will our Customer Service be positively impacted? Can our team become more engaged and productive? Do we plan on doing more business with more customers in the future that requires having the best people? There are many questions that most business owners or leaders ask themselves when it comes to training their employees.

The potential answer to all of these questions is, “YES!”

“When the economy slows down is exactly the best time to re-invest in your sales and service training as it is like sharpening the tools for the upcoming hunt. There is no official bell that sounds when the economy begins to recover. Those that have honed their skills are poised to take advantage of the recovering market. Too often organizations cut too deep with training, layoffs etc. and are then left scrabbling to rebuild their depleted teams. Sales opportunities are not lost… They are seized by someone else.” -Joe Gagliardi, FCPA, FCMA Managing Partner, Recruitment Partners

It has been proven that Professional Development/Training and engagement are key factors with employee retention, but is there an ROI with your training costs? This can be difficult to measure in the short-term but more apparent on a longer-term basis. (12 months plus) There are no guarantees that your business will realize a suitable ROI on training. (only you as the leader can determine this)

DID YOU KNOW????

If your business is approved for The Canada-Alberta Job Grant, this grant will cover 2/3 of the cost of new training initiatives, to a maximum of $10,000 per employee to a maximum of $300,000 for organization. This is a way to realize a return on your investment as the grant requires your business to pay for your training cost when training starts. You will receive 1/3 of that training cost shortly after your initial investment. At the end of the training (e.g. 6-12 months) your business will receive an additional 1/3 of that total training cost that you invested in your employees. How’s that for a return? Canada-Alberta Job Grant FAQ

Our business, X5 Management is excited about this great news for Alberta business for several reasons:

It is a tremendous opportunity to realize a return on your training costs.
The Grant encourages Alberta business to invest in their employees now.
Investing in your employees can reap future benefits for your business when the economy heats up again…..and it will.
Now is the time to invest in your greatest asset….your people. Training and development will get your business ready for future growth opportunities!
X5 Management offers more than 20 Sales & Service related courses/workshops that can support the training needs of virtually any business, in any industry. If your business wants to take advantage of the grant so that you can expand on your Sales & Service related training for your employees X5 would be pleased to discuss your organization’s training needs. Contact X5: info@x5management.com

“X5 Management has provided professional development to our team to improve outcomes of various initiatives and projects. We have been very pleased with the impact that X5 has had on our business, specifically on how we communicate internally and how we impact customer service. We look forward to the continued professional support that X5 will offer our business. X5 Management was referred and recommended to us, and we are very pleased with their approach and impact that they have had on our business.” -Eddy Stahl, President Stahl Peterbilt Inc.

“We engaged the services of X5 Management to help enhance our Edmonton and Vancouver team’s soft skills and to develop their professional growth. We have found the team at X5 to be very easy to work with and committed to tailoring their approach to meet our specific needs and objectives. We have been very pleased with the impact that X5 has made.” – E. Najjar, President and CEO, Carco Auto

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