August 24, 2022
Training As The Key To Improved Productivity
Henry Ford once said, “The only thing worse than training your employees and having them leave is not training them and having them stay”.
Benjamin Franklin once said, “Investment in knowledge always pays the best interest.”
If you could change one thing about your company that would increase employee productivity by 200%, would you probably do it? Our first response is the time it would take and how complicated that might be. A recent article by SHiFT shows that companies with comprehensive training programs have a 218% higher income per employee. In addition, these companies enjoy a 24% higher profit margin than those who spend less on training. At the root of these numbers is increased productivity. These gains achieved in training outpace productivity gains of 5.2% over-investment in new equipment.
Employee retention benefits every company, while recruiting and hiring are costly and time-consuming. Many companies don’t look at the cost of the process or the loss of productivity. To better understand the cost of hiring an employee in 2022, click here for more information. Retaining an employee can have a significant impact on your bottom line. Some well-documented studies show the following statistics:
- 40% of employees will leave a company in the first year if they don’t receive the necessary job training to be effective.
- 74% of employees feel they weren’t achieving their full potential at work due to a lack of development opportunities.
- In a recent national study in the UK spanning three generations (Baby Boomers, Gen X and Millennials), 70% of them indicated that job-related training and development opportunities influenced their decision to stay at their jobs, with the most significant results coming from Millennials. They cited the importance at 87%.
No one will deny how vital training is for employee growth and retention.
We strive to help our customers find ways to be more effective and productive. Here are some of the ways we can help.
- Training Classes – Upcoming Training Classes at the Arburg Tech Centers
- Technology Event – Arburg is excited to host this in-person event at the Arburg Tech Center. Arburg will have its annual ARBURG Irvine Open House on November 10th, 2022. Don’t miss this event. Knowing Your Production – Adaptive Molding Through Connectivity and Integrations.
- Online Training – Through the adaptation of arburgXworld, you can now access free online training with a computer simulator for your location.
Technology Event – Graham will host a Medical Extrusion and Secondary Operations Conference on September 27-28, 2022, in York (PA).
The most comprehensive training for the Plastic Professional is available at Kruse Training. With Interactive 3D Technology, this well-respected learning system includes 106 lessons ranging from Part and Mold Design, Molding Technology and Special Processes. You can even walk through a complete molding facility with a Virtual Reality experience.
Sepro provides both online and virtual training as well as in-person classes.
Smartflow Scientific Cooling Class – 70% – 80% of the cycle time in injection molding is cooling. This comprehensive class will allow you to build and maintain a more robust mold design and molding process. Don’t miss this upcoming event in Salt Lake City on September 13-14, 2022.