Employee training enables growth, but is it a good investment for your capital advance?

Steve O'ConnorBusiness Operations, Employee Management, Small Business TrendsLeave a Comment

Growing your small business is essential to the long-term health of your business, and many small business owners turn to capital advance as a way to unlock cash to fund that growth. In this post we ask, is employee training and development a good investment for your advance?

Today’s small business owners know that profitable, sustainable growth is critical to the long-term health and well-being of the business. Growth, however, doesn’t have to come from new customer acquisition, new products or solutions, or new geographic areas. Enabling growth can actually start much differently—by improving the experience of every customer interaction, or by making employees more productive so they can serve more customers. High-quality training programs can give your employees the knowledge and skills they need to improve the customer experience and to work more efficiently.

With no shortage of training programs, small business owners must decide which programs are ideally suited for their employees. According to Forbes, employee training programs typically fall into one of three categories: training to meet government regulations and/or industry standards; onboarding new employees, either with product training or corporate culture building programs; and professional growth opportunities that have a positive impact on employee retention. Enrolling your employees in the latter, that is, professional development opportunities can go a long way toward enabling growth while also improving employee satisfaction. And we all know that when you treat your employees right, customer satisfaction often takes care of itself.

And so to answer our initial question – does employee training and development make a good investment for your capital advance? At Wellen, we believe that answer is yes. When you’ve armed your business with a capital advance, you’re in a prime position to fund growth. Investing in employee training and development is one great strategy to grow your business by driving employee productivity and satisfaction. And that makes this investment an excellent option for your capital advance.

 

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