Training - Is it an Expense or an Investment?

CFO asks "what if we train our people and they leave?" Someone else asks "What if we don't train them, and they stay?" - this story/set of quotes has been uttered so many times, I'm not sure who we should attribute it to.

This week on the Catalyst Sale Podcast we discuss the question - Is Training an Investment or an Expense? We also discuss how to handle the objection if the person you are working with holds a different opinion.

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Questions Addressed

• Is Training an Investment or an Expense?
• If it is an investment and not an expense, how can we convince a decision maker that it is an investment?
• How can we avoid checking the box?
• From a trainers perspective, how do you help people with this question?

Key Takeaways

• Investment vs Expense - Depends on where you sit in the organization?
• Simmons - "Always look at training as an investment"
• Training should move the organization forward
• If I'm not leading the team or engaged in the activities that impact the business, I may look at training as an expense
• Bad training is an expense - Think about how much time people spend in bad training.
• How Do You Overcome the Investment vs Expense Challenge?
  • Get to the business impact
  • Define what will you measure
  • Establish your KPIs
  • Define what will the training do
  • Clarify how we will measure success
• Training is an investment - Some investments pay off, some do not.
• Timing - how long will it take to make an impact?
• Take a data-oriented approach.
• Know what matters to the decision maker.
• Will this thing change behavior?
• Know the desired business outcomes
• Invest in things that move the organization forward.
• Catalyst Process
  • Interview - Gather Data from Multiple Perspectives
  • Establish the Current state
  • Clarify the Desired state
  • Assess Gaps - People, Technology, Process
  • Design the Solution
• Inside the organizations, we work with, our approach and our delivery are personalized and contextual.
• Sometimes a custom approach is not worth it. Maybe and 80/20 approach is a better fit.
• Invest in the success of your employees and your team.

Call To Action

• Let us know how you are applying this content in your business.

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Catalyst Sale

In every business, in every opportunity, there is someone who can help you navigate the internal challenges and close the deal. There is a Catalyst. We integrate process (Catalyst Sale Process), technology and people, with the purpose of accelerating revenue. Our thoughtful approach minimizes false starts that are common in emerging markets and high-growth environments. We continue to evolve our practice based on customer needs and emerging technology. We care about a thinking process that enables results versus a process that tells people what to do.

Sales is a Thinking Process.