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I work in the data center industry, which has a very small margin for error. Downtime is not an option – data centers, which are the digital backbone of the economy, must operate 24 hours a day, 7 days a week. Moreover, even a small mistake can To be $150 million fraud.
Because the stakes are so high, we spend a lot of time and money training and developing the individuals who make our facilities – and our company – run. Add to that the talent shortage in our rapidly growing industry, and we will not afford it NO invest in our employees and managers.
While not every industry faces such pressures, every company can profit from adopting a culture of operational excellence and continuous improvement. It all starts with talent development, which helps the company run easily and increases the likelihood that folks will stay with the company. A program that produces results like this is a program well spent. But too often, firms surrender on the game.
In the United States alone, firms are pouring in over $100 billion a 12 months to coach people. However, only 25% respondents to one survey said their corporate training programs significantly impact business results. At the same time only 4 out of 10 employees imagine that the employer helps them improve their current skills or acquire recent ones.
It’s clear that when it involves employee training and development, firms themselves have room for improvement. Here are some places to start out.
1. Hire trained people
When it involves upskilling talent, starting with a strong foundation is a huge advantage. This means striving to rent the right people for the job and people willing to amass the skills they need. In fact, the desire to learn is one of the aspects the three most vital soft skills that hiring managers consider mandatory.
I saw this enthusiasm repay in our operations team. For these roles, we frequently hire military veterans and others who are comfortable in high-pressure situations and accustomed to navigating recent, complex processes and systems. The best performers may come from different backgrounds, but shared passion and drive are essential characteristics. A notable example is a former barista who quickly rose through the ranks in our organization and became a program manager in just a few years.
2. Take an individual approach
External certifications could also be necessary, but for many organizations generic training won’t be sufficient. Programs needs to be tailored to business goals using industry-specific protocols. Our Chief of Operations, a Navy nuclear veteran with deep management and teaching experience, brought the same learning culture and discipline to his team. He built an individual training program for our company, the first stage of which lasts as much as a 12 months, and at each subsequent level there are internal qualifications.
We are not the only company using this approach. For example, IBM is known for its culture continuous learning. A tech giant that demands the least from its employees 40 hours of study per 12 monthsgives them access to an online platform that gives recommendations based on their interests and goals.
3. Run the simulations
In the real world, things don’t at all times go based on plan. Simulation training – the effectiveness of which was well documented — allows people to practice skills in work-like situations. We frequently run drills on different scenarios to see how employees respond. Since last 12 months, our operations team has conducted over 45 such exercises and 50 training sessions. This approach can provide your employees with access to key experiential learning opportunities and interactive methods, ensuring they are ready for real-time challenges.
4. Hire executive coaches
The approach I described mustn’t only apply to technical people. The training and development of individuals in management positions is equally necessary. To this end, we provide mentoring and executive coaching to members of our leadership team. Taking into account aspects comparable to higher productivity and retention, such coaching can provide almost eight times return on investment.
Remember: training and development is not ‘set it and forget it’
Continuous feedback and assessment are equally necessary for nurturing talent. By continually assessing people’s performance, managers can see who adds value and who needs coaching or upskilling.
It starts with leaders using information about how their team is performing, which might’t necessarily be achieved through tactics like annual or quarterly performance reviews. That’s one of the reasons I’m a supporter management through walking (MBWA). In a large company, it’s not possible to be in every single place at once, but getting out and talking to people helps leaders cut through the noise and discover top performers or those that could also be struggling.
Another option to do this? Periodic internal audits. At the operational level, we have created a team of internal experts who lead ongoing and annual assessments discover areas for improvement in operations, processes, maintenance and training.
Regular feedback and assessments help discover up-and-coming leaders – just as we did with several individuals who rose to leadership positions. When people know where they stand, they are also more present: 80% of employees who say they received significant feedback last week are fully engaged.
Real return on investment in talent development
When a company puts employee training and development at the heart of its operations, good things occur.
For starters, the organization works well. The higher the training, the less likely team members are to make mistakes that may cost the company money, customers, and even its status. In our case, this minimizes downtime and helps us maintain service level agreements with our customers. Such preparation is essential in an industry where several outages last 12 months cost firms hundreds of thousands – and where human error reaches as much as 80% such events.
Effective training and development also increase the attractiveness of the company in the eyes of current and future employees. When people see that a company is willing to speculate in them and support their careers, it gives them a sense of purpose and a reason to remain. This word is spreading too.
For us, this implies low turnover in a highly competitive talent market. As a desirable workplace, we are less dependent on external recruiters to draw people. Other firms enjoy similar advantages. Organizations that strategically invest in employee development include: about 10% more profitable than their peers who don’t, and their possibilities of retaining employees are twice as high. AND three quarters of employees they say they are more more likely to stay with a company that gives continuing training.
Ultimately, each company must create an employee training and development program that meets its needs. Just make sure it is not a box-ticking exercise. Instead, talent development needs to be the core of the company’s operations and deliver measurable results. By encouraging operational excellence and continuous improvement, a company can motivate its employees, higher serve its customers and attract the right people. Make no mistake.