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Is there a Return on Investment with your training cost?

To train or not to train, that is the question. Well, there are actually more questions to ask yourself. Can we afford to train our team now in the current economy?  Will our sales/revenue go up if we invest in a training program with our team? Will our Customer Service be positively impacted? Can our team become more engaged and productive? Do we plan on doing more business with more customers in the future that requires having the best people? There are many questions that most business owners or leaders ask themselves when it comes to training their employees.   The potential answer to all of these questions is, YES.

It has been proven that Professional Development/Training and engagement are key factors with employee retention, but is there an ROI with your training costs? This can be difficult to measure in the short-term but becomes more apparent over the long-term. (i.e. 12 months plus)  While there are no guarantees that your business will realize a suitable ROI (only you as the leader can determine this) on training, one thing is certain: If your business is approved for The Canada-Alberta Job Grant this grant will cover 2/3 of the cost of new training initiatives, to a maximum of $10,000 per employee to a maximum of $300,000 per organization. This is a way to realize a return on your investment as the grant requires your business to pay for your training cost when training starts.  You will receive 1/3 of that training cost shortly after your initial investment.  At the end of the training (i.e 6-12 months) your business will receive an additional 1/3 of that total training cost that you invested in your employees. How’s that for a return!! (For more specific details on the Grant, click The Canada-Alberta Job Grant )shutterstock_248248252

X5 Management is excited about this great news for Alberta business for several reasons:

  1. It is a tremendous opportunity to realize a return on your training costs.
  2. The Grant encourages Alberta business to invest in their team now.
  3. Investing in your employees can reap the benefits for your business when the economy heats up again…..and it will.
  4. X5 Management offers over 20 Sales & Service related courses that can support the training needs of virtually any business, in any industry.  We are currently working on several proposals for existing and prospective customers who want to take advantage of the grant so that they can expand on their Sales & Service related training for their teams and we are delighted to support them.

“X5 Management has provided professional development to our team to improve outcomes of various initiatives and projects. We have been very pleased with the impact that X5 has had on our business, specifically on how we communicate internally and how we impact customer service. We look forward to the continued professional support that X5 will offer our business. X5 Management was referred and recommended to us, and we are very pleased with their approach and impact that they have had on our business.” -Eddy Stahl, President Stahl Peterbilt Inc.

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