High profits are a clear indicator that sales training boosts financial outcomes. HRMagazine published a report showing that training affects a company’s future success.
There’s a direct relationship between dollars spent in training and increased profit margins across the board, with the highest investments of over $1500 per employee gaining a 24% profit margin over companies that spent only $128 per employee per year.
If numbers do not convince you, here are some other reasons to support your sales team with training.
Employees are less likely to leave your company if they believe they are benefiting from the training you provide. Additionally, the investment in them creates trust, showing that you believe in your employees and want to see them grow within the organization.
Job satisfaction increases with training. As staff members are better able to do their jobs and a team environment is achieved, they’ll be happier. The less job turnover you have, the better. It will cost you less in the long run, allowing your revenues to grow.
With a quality-training plan, you can improve staff productivity and in turn increase your bottom line. The key here is to formulate a sound training strategy and not just something you use to fill up a professional development day. Don’t tell your managers to spend on training and leave it to them. Create a comprehensive training plan that will meet your company and customer needs. Utilize strategies such as role-playing or practice and then measure the results. And of course, train your management staff as well. Everyone should have the chance to improve.
Are you ready to get some training together for your sales force? Join StratIQ Consulting on October 18 for a Free Webinar: How a Focused Strategy Drives Rapid Sales Growth.