Imagine if you only learned after making all your mistakes. It is doubtful that your customers would accept nor appreciate the inconsistent work, and chances are they would probably not return. Professionals know that customer retention is key in satisfying and growing your business.
Training staff has consistently been shown to pay-off for businesses and customers alike and rewards come to those who stay current in the industry through training. When your customers talk to their friends, family, and co-workers, what do you want them to say about your business? About your products? About your staff?
Cheesecake Factory Training excerpt:
"The firm spends an average of $2,000 on training per hourly worker each year. Everyone within the organization benefits from training and development initiatives. Servers get two weeks of on-the-job training. Candidates vying for a managerial position receive 12-week development courses. Even dishwashers are included in training initiatives.One way the company measures its return on investment is by examining turnover rates, which are about 15 percent below the industry average of 106 percent. Workforce development programs also contribute to high consumer satisfaction rates, loyalty and repeat visits.
Much of the company's training efforts, as one might expect, center on its serving staff. "Servers are on the front line. They are our public face," Wensing says. Servers are a key component in the "Cheesecake Factory experience"-the hassle-free, friendly and fun dining that Oscar and Evelyn Overton envisioned. And since servers make up 40 percent of the total workforce, the company takes their training seriously."
What is amazing about this excerpt is indicative of the value that high-end companies place on training. When was the last time you heard about dishwashers getting training? How about wait staff having two solid weeks of training? As for their management training, it is ongoing and extensive.
What does this translate into? A great customer experience. Lower turnover. Happier employees. Most importantly, is higher revenue. Hard to argue with a successful business model.
You need to be asking, "How Can Employee Training Impact My Business?"
No matter what your role is in the business, mortgage or real estate industry, your business can benefit from proper training. Advanced and "continuous" training provides professional distinction in any highly competitive industry. The many benefits of training include:
Higher quality of work
Reduced amount of re-work
Improved cycle time and processing turn-times
Increased profit
Increased volume
Improved relations with other industry professionals
Improved image with in your industry, or the real estate and mortgage industry.
All of these benefits not only increase customer satisfaction, but improve employee relations as well. Working for a company that values and invests in skills, knowledge, and growth helps employees realize their value and increases their confidence on the job. It also energies staff and greatly reduces employee turn-over.
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