Why Training Matters

In my recent posts, I’ve written about how difficult it can be for small business CEOs to find qualified talent, despite high unemployment, and I talked about the competitive challenges of the future (China specifically), and how if we, as Americans, do what we do best, then I like our chances of continuing both our economic leadership and the American Dream.

The larger point is that the key to our economic future lies in assuring that our workforce is the most educated and best trained in the world. According to the Milken Institute, in 1960 only 20% of jobs in the U.S. required highly skilled labor.  Today, it’s 65%.   As small business leaders, and as the country’s largest aggregate employer, we may not be educators per se, but we do play a critical role in the training and continuous improvement of our nation’s employees.

In the years ahead, training a skilled workforce will be increasingly more important, not only to retaining our best people, but also for recruiting new talent and for outperforming our international competitors.  For small businesses with internal training programs, it’s imperative that they meet the changing needs of the organization and the various aspirations of the people who work within it.   Those who do not have formal training initiatives may find a partner in local community colleges.  It’s a growing trend.  They offer the training, and both the employer and the employee can reap the benefits.

Investing in training, at least on some level, helps the company and the overall economy.   I remember the story of a business owner who was opposed to training because he didn’t want to spend money on training people who may leave the company.   The clever retort offered to this business owner was: “Train your people and understand they may leave, or don’t train them and risk that they stay!”

At Vistage, training is a cultural imperative not only for our corporate personnel, but also for our Chairs and Members.  It speaks to one of our four core values: Growth – both personal and professional.  Next week, I’m pleased to say, Vistage will be honored for being among the top 125 companies in the world in the area of training, a distinction awarded by Training Magazine after an intense application and vetting process.  Other companies being honored include Microsoft, Verizon, UPS, and Bank of America.

While I’m proud of our Vistage team and of this recognition of their achievements, I know that in the current economy and with the future challenges we all face, we’ll have to work that much harder to be even better next year.  Our employees, Chairs and Members depend on us to continue to train, educate and inspire each person in our community to reach his or her full potential.

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