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"Education" has evolved to a new definition for "ROI"

Monday, August 22, 2016 - 07:00
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It is time to recognize, and essentially understand, the evolved and expanded concept that “education” of shop technical personnel, front counter and office personnel along with its owners/managers, in today’s world has matured to new additional definitions for “ROI.” The standard meaning of “Return on Investment” now elevates to two subsequent important definitions to include “Return on Intelligence” and “Return on Information.”

To retain valuable employees, and enhance management growth, shops should be willing to invest in on-going education that supports the professional growth of individual staff and management, as well as their general well-being. Comprehensive, on-going education has become a necessary requirement for this new era. Shops that fail to realize this will not be successful.

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It is critical for shop management to have a professional relationship with employees.  Owners/managers must revolutionize the traditional view of only being worried about maximizing the output of employees into a much broader form that now involves participation with every level of management and staff. The interaction between the shop management and staff on effective education, and its evaluation, is the key to success for high shop morale. High staff and management morale in today’s business leads to quality customer/client service.

Employers should prove to their employees their worth to the shop. In other words, always operate with the philosophy of “train to retain.” I was once asked, “What happens if I train him and he leaves?”  I responded, “What if you don’t and he stays?” The right education should give employees the tools to develop technical skills and soft skills necessary to perform well technically as well as socially. When you enrich your employees through professional knowledge in many areas, it increases the company’s loyalty.

Competent education should be carried out regularly to keep all minds fresh and the morale high.  Shop owners/managers should be aware of the fact that many competent employees are lost through lateral movements to other shops. This is scary because management didn’t understand the real reason for the employee leaving and didn’t have an interest to find out why. 

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