Companies Invest in Workforce Training and Development
The economic recovery has produced a parallel increase in workforce training, as companies recognize the value to invest in their employees as key contributors to growing their businesses. This trend can be seen across a broad spectrum, from small to mid-sized companies to corporations, healthcare and higher education. And though there may be different motivations for these investments, they have one characteristic in common: a shared philosophy to grow their people as they grow their businesses.
A review of the body of research on this topic sheds light on the positive ROI companies have realized from developing employee training programs. One study conducted by the Construction Industry Institute described how employers have realized anywhere from a 100% to 300% return on their investment in workforce training, from increased productivity, reductions in employee turnover and absenteeism, and improvements in work safety and quality. According to Fred Lang, former Chief Learning Officer for the U.S. Department of Commerce, companies should devote 3-5% of their budget to training if they expect to successfully compete in the marketplace.
Strategic Training Solutions (STS), we are seeing a significant uptick in demand from companies who have renewed their investments in training programs and organizational development initiatives that generate a positive ROI. According to STS President Laura McNerney, “Organizations are currently faced with many challenges as a result of the rapidly changing dynamics of their workforce. As workers must assume more responsibility, HR executives have turned to STS to develop tailored solutions designed to enhance their management and leadership skills.
STS has worked with a growing number of clients who have placed training and development front and center in their effort to expand their markets as they retain and retrain valued employees. Pentegra, a leading provider of retirement products and services based in White Plains, New York, is a $7.5B company that employs 270 people. Pentegra has acquired three companies since 2008, and their CEO has projected the company will double in size by 2018. Laura and the STS team have worked closely with Pentegra over the past 4 years to respond to their need to promote employee career development. STS has designed and delivered tailored training programs for Pentegra that include Leadership, Managing Remote Employees, Business Writing, Customer Service, Time Mastery, Managing Difficult Situations and HR Officers Training. Colleen Zanicchi, Vice President, Human Resources at Pentegra, said: “We have enjoyed our relationship with STS over the years, and as our company has expanded, we have turned to them to provide cost-effective solutions. They have responded by developing programs that support our specific needs, and we value their advice as a true business partner.”
STS has developed a strategic partnership with Strauss Paper Company, a leading wholesale distributor of janitorial supplies, equipment, and sustainable green products, to provide customized training programs for their workforce, supporting their goal to become a market leader. STS started working with the Strauss customer service team in 2009, and will offer workshops for their entire company in 2014. Scheduled programs include Accountability, Embracing Change, Time Mastery, DiSC, Interview Skills, Coaching and Counseling, and Building Dynamic Teams. Strauss Chief Financial Officer Rachel Eckhaus said: “As a rapidly growing business, I have always held a firm belief that as we invest in our people, we invest in our future. As our company continues to grow and flourish, we rely on to the training and strategic direction STS provides to us as our trusted partner.”
Interested in learning more about Strategic Training Solutions consulting services and training programs? Call us at HRG today at (914) 761-7111 or email firstname.lastname@example.org
About Hospitality Resource Group
Hospitality Resource Group, Inc. (HRG) is a group of three vertically integrated companies, with over 16 years of experience in developing innovative marketing, training and event programs for businesses, education institutions, municipalities and not for profit organizations. HRG clients benefit from our proven ability to ignite market interest, engage consumers, and educate employees on how to manage and lead their companies to build brand equity, increase sales and improve productivity.
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