As leaders, we want our teams to be tip-top with skill sets and mindsets. That requires an investment, at least of time. In some cases, money. And yet it really does not require a lot.
Years ago, when I worked for a Financial Services firm, we all had to invest in ongoing training. It would be reading a book and delivering a report on the learning. It could be a trip back to headquarters to take part in a class on selling skills or presentation skills. In yet other cases, it would be structured peer-to-peer learning.
There are several benefits to this:
- The team develops a shared language around their common experience.
- The team is more engaged, as you have made an investment in them.
- Because the team is engaged, your organization is more profitable and productive.
Part of the reason for training is not only skill development (though that is important), it also develops a common language. For example, teams that have
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taken part in any of the Crucial Conversations™ trainings know that when someone speaks of “saluting the flag,” they know it is a way to bring conflicted parties together towards a shared mutual interest. Or, those that have taken Miller Heiman’s Strategic Selling™, know what a Red Flag is when speaking about an account.
One recent study suggests that offering career training and development would keep 86% of millennials from leaving their current position. When you offer your people training you accomplish three things:
- You send the message that “You are valuable to us.”
- By making an investment in them, you are demonstrating loyalty.
- And you are tapping into their intrinsic motivation to gain mastery in their job.
All of this leads to greater engagement, profitability, and productivity. The data shows that engaged teams are more productive and more profitable.
| Customer Ratings | 10% |
| Profitability | 22% |
| Productivity | 21% |
| Lower Turnover | 65% |
| Safety Incidents | 48% |
When you can foster the culture learning and development that improves skill sets and mindsets, your teams become high performing teams.
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