In my many years as a rental housing professional, I have discovered that there are two camps with differing philosophies regarding continuing industry training. The first camp seeks out training with the belief that it is valuable and beneficial; not only for the employee, but the organization as well. The second camp believes that training is a waste of time and resources and avoids it.
Unfortunately, the second camp seems to be in the majority. While most Directors, Vice Presidents, and Regional Managers fall into the first group, they often work for a member of the second group.
Costs vs. Benefits of Training
Training costs are directly measurable. For example, sending an employee through an association sponsored training program will incur tuition costs, possible travel, and time away from their site. Let's not forget the employee's wages while attending the course. And, perhaps overtime or additional work load burdens for the other employees. Having a trainer come to your organization will also incur costs. The speaker will have a fee as well as material costs. Bringing everyone together will cost mileage dollars and refreshments. Not to mention closing the offices down for a few hours and the possibility of missing that cherished rental/sales opportunity.
There is no question that training can be expensive. But with proper planning and budgeting, the cost can be reduced. The real question to ask is "What is the cost of liability if the team is NOT receiving training?"
The benefits of training are easily measureable. For example, I have numerous clients tell me that leases increased the same afternoon as a morning leasing session, or the closing ratios improve dramatically. Customer complaints decrease after training, and employees tend to be more cautious about Fair Housing once they have proper understanding of the laws and guidelines. The right training can increase an employee's motivation and enthusiasm. Continued, regular training will increase productivity, team morale, self-confidence, sense of importance, and communication skills amongst your team. Training should be viewed as a reward for continued employee loyalty. If training is marketed correctly as an investment in the employees, your team will be excited to attend and see this as an additional benefit to them.