Is Everyone In Your Team Making You Money?
I’ve recently had to seek board approval to redevelop our website. Our last one was built in 2013 and the world, and our business, has moved on since then. No one was disputing that we need a new site, but I needed to satisfy the board that this investment would deliver a return.
So it is with most businesses. As a manager, no doubt you will have to make the case for investment in staff training. We all know that training is a good thing. Lack of investment in training will lead to a business employing staff who are not up to date, unaware of key risks, demotivated and not performing to their full potential; ultimately a business risk.
These factors alone should get your business case over the line. But if they don’t, it is not difficult to prove the return that your investment in learning and development for your team will produce.
A well-planned and effective induction programme for new fee earners or trainees moving into a seat enables them to start charging their time much sooner. A day or two’s additional chargeable time can equate to a comfortable four-figure sum. This is particularly welcome if there has been a delay in filling the vacancy or if there are recruitment costs to pay. Maternity or career break returners can also benefit from the confidence boost provided by training, which will translate into more productivity and profitability.
Regular updates on key risk topics like cyber-crime can also pay dividends as they mitigate against the risk of significant financial and reputational damage.
Perhaps the largest return on investment in training comes from upskilling the most junior staff. A foundation level conveyancing course or paralegal qualification equips today’s administrator with the tools they need to be tomorrow’s fee earner. That small investment in training will be repaid thousands of times over during their career.
We can support you and your staff by helping you find the right course or qualification for their needs; our market-leading e-learning courses save travel time and cost and allows your team to study when they can, as well as enabling you to monitor their progress. If you’d like to find out more or need some help putting together your business case, get in touch with Wendy Harbottle on 07970 546524 or email her at [email protected].
Take a look at our new range of online courses – https://www.clt.co.uk/training/online/
Oh and we got our website investment approved, so watch out for an all new www.clt.co.uk in the summer!
This article was submitted to be published by Central Law Training as part of their advertising agreement with Today’s Conveyancer. The views expressed in this article are those of the submitter and not those of Today’s Conveyancer.