Has your business planned its strategic training investment?

Information extract from the Feedlot TECH Launch Presentation at the ALFA SmartBeef Bites Virtual Conference, 15th October 2021. Full presentation available via the Feedlot TECH Training Hub.  

Successful businesses commonly quote that their skilled, dedicated, and reliable staff are their #1 asset and biggest resource. Their staff are said to be irreplaceable, with the company having put effort into creating an environment to support them and their growth through training. Companies also understand the high costs associated with replacing employees, which research has shown can be up to 30% of a worker’s annual salary. This takes into consideration advertising, time and resources, onboarding new staff and setbacks in productivity.

In the currently climate of ‘The Great Resignation’, businesses are experiencing high employee turnover and difficulties in finding staff. How can businesses support their new and current staff while ensuring the investment in training is worthwhile?

Investing in your people and introducing training and development programs to the business is a key aspect of supporting and assisting with employee retention. Studies show that 94% of staff reported they would stay at a company longer if the company was invested in their development.

For new employees, advancement is almost going to be on their mind and organisations need to be prepared to not only allow, but to facilitate growth opportunities for staff. Developing employees’ skills by giving them access to further training makes them feel competent, valued and assured that you’re investing in their future within the company. Staff training also supports the feedlot industry into the future. 

If your business is going to invest in staff training and development, you want to ensure it is planned and relevant to your staff and future long-term business success. You want to ensure this is a strategic investment, so that both people and the business receive the benefits. 

Below are 3 steps you can use when developing training and development programs for your business.

1. Define internal systems, priorities and expectations

It is very important to make sure that all staff and managers are on the same page in terms of the internal business systems and priorities. Start with the business mission, values and beliefs and ensure they are not only focused on output, but also address creating positive business cultures and work environments. Outline the expectations for communication, how you can measure and reward performance, while sticking to business priorities. Think about and define the business structure or levels of hierarchy – are these clear and supportive for staff promotion where relevant?

These systems should be available to all employees to assist them in understanding and navigating the workplace. The systems also can all impact the behaviour of employees and how they can interact within the workplace and respond to training.

2. Commitment to long term career planning

Your business should consider outlining internal career pathways. These can be mapped to the organisation hierarchy, structure and the training required to progress along these pathways. This information should be available to staff to assist in developing their career goals and see a future staying in the business. It can also help managers to track employee progress, implement the training required, communicate with the employee, and understand how to assist staff to reach their goals. Additionally, you could consider incorporating an internal mentoring program or buddy system to encourage supportive staff relationships and culture.

Have a look at the Feedlot TECH Career Pathway examples to get your business started.

3. Select training solutions that directly serve strategic priorities

If you are going to invest in training be confident that it will assist in shaping the business and staff a direction that aligns with future business development. Identify the knowledge and skills gaps that are required to be addressed immediately and in the long term. Ensure training is selected to match these priorities requirements and address these skill and knowledge gaps.

These three steps can be implemented to ensure that your business is set up to support staff training and career progression and reap the benefits of this investment.

Visit the Training Courses and Professional Development Pages to see what training is available to the industry. The Feedlot TECH Training Hub offers online specific feedlot skills training, that is available to all feedlots, employees and industry associated businesses.

Login or Sign-Up to the Feedlot TECH Training Hub to start training today.