One of the highest compliments I get on this website comes in the form of one of my readers recommending my training services to their boss.
In an ideal world, I’d get a thumbs up every time but you and I know life doesn’t work that way.
One of the most troubling rejections I get from time to time is in the form of an organization not willing to invest in their employees.
As someone who lost everything he had financially 16 years ago, I’m sensitive to simply not having the money but . . .
I have a hard time with having the funds but lacking the priority.
The sad thing about it is that they pay the price either way!
Depending on who you ask, the cost of turnover for a sales professional can be anywhere from 150% – 300% and sales is a high turnover profession!
Investing in your team can lower that turnover dramatically.
Just for the heck of it, isn’t there a price that goes along with that turnover in the form of poor morale and in some cases, a bad reputation in the market place?
How about the cost of the opportunity a sales professional misses because they didn’t develop some areas that could have used some polish?
How about the cost of a manager’s time involved in having to spend extra time with someone who isn’t up to speed?
Pardon my French but there’s even a price we pay when we, as leaders get our ass chewed for not getting the results that are expected of us!
I could go on and on but here’s the bottom line . . .
The price is paid either way!
While its real easy to criticize companies who won’t invest in their employees, we can’t let ourselves off the hook!
It always amazed me how many of us invest in the stock market but we fail to invest in the surest thing on the planet . . . ourselves!
Before I offer a remedy let me put a disclaimer out there . . .
In case you haven’t noticed I sell training and coaching for a living and of course its in my best interest for you to leave this blog today a believer!
I was also on the “Invest In Yourself” soapbox long before I owned a training company!
Each month, for the better part of 15 years, I have reinvested a portion of my earnings back into ME.
Some months, it’s a $15 book, other months its been tools such as a digital voice recorder and as my income grew, I attended training programs, took on coaches from everything from public speaking to running a small business.
I did it without reimbursement because I knew I had to believe enough in myself . . . to invest in myself!
A little skin in the game never hurts gang!
By the way . . .
You are reading this blog today as a result of my willingness to invest in myself.
When I made my decision to rebrand Paul Castain back in 2008, all of this stuff was like a foreign language to me.
In order to get a handle on it, I invested in books, seminars, coaching, audio programs etc.
As good as its been for me and as grateful as I am that you are reading this today . . .
Either way there was I price I was going to have to pay!
The price of investing in ME or . . .
The price of hugging the status quo long enough for my competitors to come eat my lunch!
Today you are cordially invited to . . .
Pay The Price
Proactively and . . .
On Your Terms!
Click here for a glimpse of Sales Training That Rocks!
If you can keep a salesman working motivated for your company for 1 additional month that is at least 10 000 USD extra in profit.
By investing money in your sales people they quickly become more loyal, salesmen are easy that way.
At the same time investing money in your sales people should increase their output making that extra month maybe worth 15 000 USD.
Just setting the small goal of extending median work time by one month makes any investment in training worth it.
This reminds me of one of my favorite Benjamin Franklin quotes “If you think education is expensive, try ignorance!”
I love that quote and actually had a note to tweet that and never did.
About to change that now 🙂
Thanks Elizabeth!
“Just for the heck of it, isn’t there a price that goes along with that
turnover in the form of poor morale and in some cases, a bad reputation
in the market place?” – Castain
The President of one of my client companies is a very nice man. However, he has not been willing to give his sales guys technical support – such support would perform technical presentations (they sell very technical software and solutions), and help customers with questions after the sale. He tells the sales guys that when they bring in enough revenue, he will invest in tech support. The sales guys have tried to be understanding about this and are shouldering their way through. Results are not great. Very recently however, the President invested in buying a competitor…and 3 of his sales guys, including a recent hire, have let me know they are looking to leave. This max exodus will definitely create a bad reputation in the marketplace – it already is, as the sales guys try do dodge questions from their customers about what sort of customer support the company offers. When these 3 leave, will this company be able to attract top talent in the future? Was it worth it?
So true and so sad because this is happening in more companies than we all care to admit!
It has many different faces to it but lets all understand and acknowledge . . . its at epidemic proportions!
Thanks for stopping by and sharing this fantastic example!
Those are some very compelling numbers Daniel . . . Thanks for stopping by and sharing your thoughts!
Now you are speaking from my soap box, Paul! You absolutely hit the nail on the head. It is crazy that training isn’t the top priority when you consider that an 86% higher share holder return is generated by companies that spend more than average on training, and turn over in companies with poor training is more than 3X has high than in companies with an excellent training program. Paul, I’ll send you a copy of our white paper on the subject.
Looking forward to it Rebecca . . . Thank you!
I hope that people reading these comments understand that we can’t just blame management for this . . .
We need to believe in ourselves enough to invest in ourselves.
Even if it means cutting out the Lattes and the lunches and all the other expenses that deliver nothing more than instant gratification.
Thanks again!
Once again you show why you are indeed the Jedi Master….
Training before you work is top most priority to become a successful business man… Infect training is the important thing to do any work one the whole world… It is a sort of investment on your self…