A. Training employees
B. Upgrading technology
C. Firing bad managers
If you guessed "C," you're a person after my own heart. (Many of you know I'm on a personal crusader to eradicate idiotic management.) However, the CORRECT answer is "A." For every 1 percent increase in employee competence, your org gets $8,000+ of increased productivity. (Source: UW-Milwaukee Advanced Management Series, April 2002.)
So why is the training budget the first to get sliced and diced when times are tight? I don't understand it myself, but here's what I know for sure: beyond its impact on the bottom line, employee training is one of the best tools you have to attract and keep Gen X'ers.
Remember: this generation relies on itself – not you – for job security. Gen X'ers see training as critical to building their brand. And Gen X'ers are the first generation to have deep skill sets in technology, which makes them valuable to every organization.
What are you doing to attract and keep young talent?
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