Before we can accurately address the importance of contemporary business management courses, we must take note of the fact that the modern corporate landscape is beginning to display some alarming trends:
- Although the numbers vary drastically from industry to industry, the annual turnover rate across the UK is approaching 20%.
- The average vocational tenure for people between the ages of 25-34 is less than three years.
- Fresh college graduates spend fewer than 16 months with their first companies.
- In the UK, firms spend an average of €3,000 per hire on recruiting expenditures, which is a rise of almost 30% from just a decade ago.
- The cost of replacing hourly employees is about 15%-20% of their annual income while replacing high-end salaried employees can cost upwards of 200% of their annual salary.
Why Can’t We Keep Our Employees?
In order to fully understand these trends, we must tap into the mindset of today’s workforce, namely with regard to the concept of personal development:
- A recent 2016 study found that 75% of today’s corporate professionals feel as though they aren’t able to reach their full potential with their current companies.
- 33% of new hires choose to leave their positions within the first 12 months due to a lack of one-on-one attention and personal development.
- Over half of today’s managers believe that effective coaching and training are vital aspects of any successful enterprise; however, 90% of these administrators fail to provide ongoing instruction and periodic tutelage.
- Three out of every four companies choose to increase their recruitment budgets each year without allocating any additional funds to training and development.
As you might imagine by now, it’s important to provide your employees with targeted coaching and industry-specific lesson plans in today’s day and age, especially if you’d like to nurture your workforce, decrease your turnover rate, and truly maximise everyone’s inherent potential. So regardless of whether you happen to work in sales, manufacturing, food service, or the financial sector, it’s in your best interests to partner with a renowned consulting firm and begin providing your staff with instructive tutelage on a regular basis.
How to Pick a Reputable Corporate Training Firm
If you’d like to schedule some business management courses in London, for instance, you’ll have to look for a training organisation that can tout the following aspects:
- Accredited by the BAC, ILM, and IoSCM
- Experienced in-house instructors including former and current CEOs, legal professionals, sales experts, marketing veterans, university professors, project managers, and corporate finance specialists, just to name a few
- Wide range of available on-site and off-site courses such as managerial enrichment, public relations, secretarial refinement, technological instruction, sales coaching, legal training, and other sector-specific options
- Downloadable resources available online including a full list of past clients, case studies, course calendars, and more
- Accommodations and transportation provided for off-site courses
Before long, your entire staff will become well versed on today’s most progressive leadership skills, conflict resolution techniques, sales tactics, and anything else that you deem necessary for your organisation.