Newcomp Analytics has been delivering Analytics training for over 10 years now, and the question that we receive most frequently is “Why should we pay for training?”. Based on our experience, our response to this question is increased productivity, employee retention, and a definite return on investment.
Why Analytics Training is Worth the Investment
Analytics training is essential in an organization because adapting and learning to use new technology can be challenging for many individuals. Self-training can often result in long hours, frustration and the risk of burning out. During that time, employees may have missed out on various opportunities due to the inability to efficiently identify data trends and patterns.
Analytics training will provide employees with the necessary skills to perform their job effectively within a few days. According to Shift eLearning, “Thorough training had more than twice the amount of income per employee over firms that offered less training.” Inc.com states that by increasing employee engagement investments by 10%, company profits can increase by $2,400 per employee per year. Invest in your employees’ analytics training for higher productivity!
Training is often viewed as an added expense when really it is an investment into your team and their growth with the company. This investment will allow quicker onboarding and productivity, thereby leading to employee satisfaction and retention.
Training may look like a short term cost, but by investing in your employees and providing them with the right training, your company will ultimately benefit in the long run.
Return on Investment
It is often mistaken as a short-term expense by many organizations instead of a long term investment. With analytics training, employees are able to quickly adapt to new technology and begin producing output faster.
Now, let’s look at this from a different perspective. What is the cost of NOT training your employees? For a new employee with no experience with a particular software tool, how long would it take them to learn that software on their own? It would take them maybe a couple of weeks to self-learn and get comfortable with it.
However, this is only if they dedicated all their time towards learning this new tool. Due to other responsibilities and tasks to complete, two weeks keeps extending to longer timeframes. This is where training comes in. Newcomp Analytics can build a customized training path for your team to ensure that employees are ramped up as quickly and as efficiently as possible.
Contact us at firstname.lastname@example.org to see how you can maximize the value of your Analytics training investment.