The turbulence of the market has sent a shockwave through the industry, wreaking havoc on some companies and instilling a strong sense of caution in others. In difficult times, it's a challenge to determine which actions are sound ones. What may be intended as a belt-tightening measure may later turn out to be an inadvertent amputation of a vital part of your business. Training budgets, for example, are often slashed early. To say that investing in training is an extravagance is a short-sighted view.
Training provides numerous benefits.
Employees, to cite another example, view training as a strong incentive. Cut that incentive, and you'll weaken the loyalty and stability of your staff. Consider how you can serve your customers better and more efficiently. Technology audits can reveal and correct bottlenecks and inefficiencies in your processes. Use personalization technology to build relationships with your customers and meet their needs more readily.