Companies, including construction businesses, know the importance of investing in new automation solutions, but the critical role of employee training to keep up with evolving technology can be lost in the shuffle. It is vital that workers receive training from the onset of new programs and systems. A delay in training a worker equates to an increase in the likelihood of errors, a loss of productivity and—worse—a dissatisfied employee. Ultimately, the effect is a negative impact on the bottom line. Think about this: A 2014 column published by a prominent online news website examined the importance of worker training. The column cites a report by HRMagazine that states companies that invest at least $1,500 annually in training on each employee have an average of 24 percent higher profit margins than businesses spending less on training. The National Association for talent development in a survey of 2,500companies with extensive training for employees reported they generated a 6percent increase in shareholder return by raising employee training $680 per
Simply put, the biggest overall benefit of training is the positive impact to the bottom line. Construction business owners must ensure that investment in operations includes proper focus on their workers—not just the implementation of new programs and technology. It is imperative that companies drive more value out of their people and their investment in solutions. For example, if construction professionals are using about 30 percent of their investment, the potential for productivity gain is huge. Think about what would happen if companies only received 30 percent of the value invested in materials or labor— it would be devastating to the bottom line.
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