Have You Made Your 2011 Plan to Improve Your Bottom Line?

The end of the year is fast approaching. And as many begin to wind down, so does, in some cases, the attention to the task of assessing and planning for the 2011 staff training and development curriculum.

Yet In fact, this is the best time, to take a step back to consider and plan how to improve your return on investment for every salary and hourly dollar spent.

That’s right! I tied training and development to “roi.” Many companies see this category as an expense, and yet when done correctly and topics chosen correctly, it can have enormous value.

Consider the statistics from a study done on the area of Emotional Intelligence:

  • The Air Force also found that by using emotional intelligence to select recruiters, they increased their ability to predict successful recruiters by nearly three-fold. The immediate gain was a saving of $3 million annually.
  • Experienced partners in a multinational consulting firm were assessed on the EI competencies plus three others. Partners who scored above the median on 9 or more of the 20 competencies delivered $1.2 million more profit from their accounts than did other partners – a 139 percent incremental gain (Boyatzis, 1999).
  • At L’Oreal, sales agents selected on the basis of certain emotional competencies significantly outsold salespeople selected using the company’s old selection procedure. On an annual basis, salespeople selected on the basis of emotional competence sold $91,370 more than other salespeople did, for a net revenue increase of$2,558,360.

Ok, just for fun, let’s state the obvious; most EQ trainings and coaching engagements I know don’t cost millions of dollars.

Let the numbers speak for themselves, in general staff training and development initiatives are not an expense not an investment.

What investments will you make in 2011?… do you have your topics and facilitators booked now?

Here’s a secret – The best facilitators and trainers’ calendars fill quickly. Don’t miss out! Assess your staff development needs in the next few weeks and start booking now!

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This entry was posted on Friday, November 26th, 2010 at 2:02 pm and is filed under Change and Organizational Development . You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

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