You’ve probably heard the saying, “You get what you pay for.” According to a report from Small Business Trends, most small businesses are paying new employees an hourly wage or salary — but are not paying to train them. This may save a business time and money in the short-term but can backfire down the road. If your business does not have a new-hire training program, an iron-clad Employment Practices Liability Insurance policy is critical.
Workers who aren’t well versed on how to safely operate equipment, properly use materials or deal with job-specific hazards are more likely to become injured on the job.
Loss of Business
When you walk into a small business, your opinion of the business is influenced significantly by your experiences with the staff. If your employees aren’t knowledgeable about the products or services you provide, customers may not feel confident doing business with you. Taking the time to make sure your employees are trained about what you are selling will translate into more sales.
Employees who understand the components of their job and how to effectively carry them out are more productive. If you throw a new hire into the lion’s den and expect them to figure it out on their own, you could be doing your business a disservice. An untrained employee, depending on the kind of business, could slow down the productivity of your business, ultimately affecting your bottom line.
Most new hires sincerely want to do a great job. They approach their new position with enthusiasm and a can-do attitude. If they’re not adequately trained, this enthusiasm quickly can evaporate and turn into confusion and frustration. Employees who don’t understand how to do their jobs won’t see a clear path to their end goal: advancing within the business. Sooner or later, they’re likely to move on to a company that will invest in training them.
If your business lacks a training program, it is beneficial to your business to change that. Consider appointing a long-time employee as designated trainer or mentor who on-boards new hires (make sure to compensate your trainer with a raise or bonus.) Consider hosting monthly team meetings where employees can seek clarification on issues they may not understand. Depending on your business, you may find it worthwhile to invest in online training courses or even to hire consultants to come in and host in-house training sessions.
A well-trained, confident workforce will help your business reach its goals. Because risks exist even when you train your team, contact us at Newman Crane & Associates Insurance, (407) 859-3691, to make sure you are protected.