Do you invest in young people only to see them move to a competitor when your training has just started to repay your investment?
Many professional businesses experience this common cycle:
Take on a trainee
Pay for technical, professional training
Give mentorship and guidance
See the trainee qualify
See the trainee leave and move to a competitor
Wouldn’t it be great if you could stop this cycle after point 4 and end with:
See your newly qualified member of staff happy, motivated and productive, producing positive financial results for you for many, many years
The good news is that you can
Mentoring time £1,500
Wages (for no return) £15,000
Total £19,500 pa
Start again with another trainee
These are conservative estimates and will vary from practice to practice and region to region, but I am sure you see the point, you might even want to add in recruitment fees. And, remember to multiply this for every trainee, every year! Ouch!
There is a general trend in the development of a professional career that can be characterised by certain motivational traits; addressing these motivations in the correct way can help to stem the flow of expertise out of your business at the very time it starts to generate a return.
An accountant is in the business of money so as a practice owner you will be aware of how effective money is as a driver.
A lawyer is in the business of justice and fairness so as the owner of a firm you will be aware of how effective clearly understood rules can be as a driver.
A technical designer or developer is in the business of technology so as a tech business owner you will be aware of how effective implementing innovative systems can be as a driver.
All three use this knowledge (which by the way, is correct) yet still find that you have not solved the problem. This is because the trainee has not yet developed the understanding of what you know to be motivational truth.
This is the story of how it happened for one of our clients https://headsforbusiness.co.uk/success-stories/business-animals
Let us help you to identify what is important to your current intake of trainees, formulate plans to keep them and give you an insight into how best to motivate, engage and ultimately retain productive and effective staff.
To find out more and how best we can help you call today to arrange a meeting.