When you think about ways to boost revenue and reduce costs in your organization, training and developing employees might not be on your To Do list, but should it be?

According to a recent Workplace Learning Report, learning and development activities improve employee satisfaction and reduce turnover. While training might not be something you think about tying to profit, turnover or attrition does impact profit when it increases costs.

The workplace learning report specifically cites that just over 17% of the workforce is disengaged, which shows up as low productivity, absences, poor quality, and even attrition. The report estimates this translates to 34% of a disengaged employee’s salary, which means a single company employing 20 workers with an average salary of US$ 40,000 potentially loses up to US$ 270k per year to employee disengagement.

And what if you actually lose those disengaged employees?

To replace an employee, companies typically spend 50%-250% of the worker’s salary, including benefits.

When you do the math, you start to see the impact on cost savings that result from keeping employee satisfaction up and attrition down.

So what about the revenue side of the equation? How does learning come into play?

Think of it as a revenue ripple. Over time, employees that are learning more and following improved processes are likely selling more, producing more, and contributing more tangibly to a company’s success. Your company’s success.

Fortunately, Sage offers recorded learning subscriptions (Anytime Learning) and instructor-led training that make it practical and affordable to start engaging and growing your employees today.

Visit www.SageU.com and select Sage 50 Accounting – Canadian Edition to learn more. If you need help finding training that’s right for you – or need help with registration – contact our Sage U team at [email protected] or via phone at 1.855.724.3864.