Why Investing in Your Staff is good for long term Growth

on October 14, 2019

So, you’ve heard of the saying Diamond in the Rough? This phrase is generally used to describe someone of great potential that simply hasn’t been refined or developed enough to be appreciated (or used) as much as they should be. Or even more so, because they’re talents are hidden beneath the rough, they are not being exposed to their full potential! It takes quite a Keen eye to spot out a diamond’s worth. It might even cost a bit of money and patience to bring out it’s fullness in the refining process. But once refined to its full potential a diamond can be very valuable. Sometimes you have to put in to gain more. So, although a diamond can be expensive, see it as an asset and not a liability.

You may be wondering what has diamonds got to do with anything? Well imagine someone told you that if you invested £1,000 in a diamond today, as long as your refining process is carried out correctly with structure and patience, that same diamond will be worth £15,000 or more in the next 3 years. Would you invest? Now, if we’re honest, most of us wouldn’t think twice about a 14k plus profit. The only question we would ask is “So all that is required is to carry out the refining process correctly and I will receive a 14k plus profit?”. Sounds simple enough to me. Now replace yourself with your company, change the diamond to a trainee and swap the refining process to the training process. You hadn’t thought of it like that had you?

Ok now I’m interested, but how does this benefit my company?

In the most basic form, developing talent will increase motivation and loyalty and in turn strengthen the leadership of your organisation. Hiring trainees is a productive and effective way for an organisation to improve the effectiveness of the workplace. With Brexit being around the corner, it is very likely that there will be a skills shortage due to the inability to fill job roles with trained Europeans. This could mean that now more than ever is the right time to think about hiring a Trainee/ Apprentice. Some benefits include but are not limited to the following;

  • From 1st April 2019 If you are considering hiring an Apprentice (and you are not required to pay the Apprenticeship Levy) the government will pay 95% of costs towards apprenticeship training, leaving you to pay only 5% of the overall cost. This means the only cost to the company are wages and the 5% training cost mentioned above.
  • In addition to the long-term financial benefits of employing apprentices, the government estimates that employers can recoup their investment within one to two years.
  • It also enables employees to progress and achieve job satisfaction, which in return will better staff retention and commitment.
  • A trainee will gain the knowledge on how to do their job in the most efficient way possible. This will also help them to increase their level of productivity in the workplace.
  • The more productive your employees are, the better chance your company has of achieving its goals; including those financial goals you are waiting to achieve!
  • Having qualified employees that have been moulded to your standards through your structured training process means that they will not only be able to deliver but they will be able to deliver to your expectations for the company.

Think about it; an employee knowing what to do and exactly how you want it done, some may even exceed your expectations!

How does this benefit the trainee?

If you are considering entering a trainee or Apprenticeship role; there are many benefits to an employee working and studying. It can be hard studying and gaining all the academic and theoretical experience and then not knowing how to apply this when it’s time to get stuck in to the practical, which is why a trainee option could be the best option for you. Some benefits on training on the job are;

  • As a trainee you can immediately apply your newly gained knowledge and skills to the workplace which will allow you to increase your confidence and motivate you whilst completing your studies.
  • Taking on a trainee or Apprenticeship role means that you can study and earn an income at the same time.
  • One valuable skill which will be strengthened through working and studying is how to effectively manage your time. As the trainee you will learn to handle multiple tasks and prioritise your workload which will improve your quality of work.
  • One benefit that I personally love is that you will gain on the job experience. Most companies require experience (no matter how qualified you are). This will help you to avoid the stressful wait of finding a job after you have received your qualification.

Employees often look for candidates that can work under pressure. It is seen as quite a valued ability to have. This is because in every company, changes and unexpected events can and do often occur. Sometimes regardless of how well organised you are; pressure can hit like a ton of bricks. However, working and studying strengthens your ability to respond to pressure and stress effectively, which means that ton of bricks may be manageable after all. So, when you look at it as a whole; you will gain academic, theoretical and practical experience, receive an income and gain the necessary skills to succeed all as a result of working and studying. Forget killing 2 birds, how about killing all 5 with one stone!

Why am I so certain Hiring/ applying for a Trainee Role works?

Great Question! Having completed a Level 2 NVQ Apprenticeship in Business and Administration and now working full time while studying towards my AAT Level 4 Professional Diploma in Accounting I certainly know all about the benefits, costs and struggles of a Trainee Role. Having experienced both aspects; I can assure you that for both the employer and employee the struggles and the costs will be worth it in the end! My advice would be to always remember that ‘Good investment brings high returns and knowledge and education secures a good financial future’. For both the employer and employee, either way it’s a win win!

At Oursourced ACC we pride in our ability to train young  Accountants and offer a range of Training roles and option where you will be given the opportunity to work on real Accounting projects and deal with HMRC under the supervision of our accountants to learn the skills and be practically competent to take on your role on completion of your studies. Give us a ring or send us your CV to [email protected] today

Written by Tricia Carr

Filed under  Blog 

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