TALKING BUSINESS: The benefits of training your financial staff

Employers are often wary of investing financial support or time for employees to attend training sessions. The main reason for this is due to employees using the knowledge and skills given to them as a stepping stone to gain a higher position in another organisation.

Employers should at all times remember that the employee you neglected to train is currently still a part of your workforce, functioning as a representative of your organisation. One uninformed employee can be the end of your company’s good reputation that took years to build.

You might reckon that employing staff with only the relevant qualifications is sufficient, but there are always certain challenges experienced by newly-appointed staff in the workplace. The most prominent is interpersonal communication – something that does not come naturally to every human being and a skill that tertiary institutions often neglect to teach.

Interpersonal communication includes oral and written communication; and communication skills are one of the most important characteristics needed when it comes to communicating financial aspects such as reports, procedures and resolutions to the board of directors or other stakeholders.

Communication training is only one of many important training courses available out there. Numerous training courses exist; like business etiquette, customer service, technical accounting training and leadership training, to name a few.

It is evident that training courses will not only enhance the individual employee’s performance, but will also improve the organisation’s service-components as a whole. Both employers and employees should learn to view training and Continuing Professional Development (CPD) as a company asset and a Return On Investment (ROI).

The following benefits exist from investing in training courses:

1) Increased productivity: Employees can implement what they have learnt in your company.

2) Improvement in the employee’s self-esteem: This will create better client service.

3) Improvement in the company’s recruitment: Employees want to work for an organisation with growth-opportunities.

4) Higher retention: This will motivate the commitment-level of employees.

5) Shows high employee-morale: Your staff will feel as though the organisation acknowledges their needs and potential; and that the company cares about their personal growth.

6) Improves creativity: Several training courses are especially designed to improve creative thoughts.

7) Improves team-work: Training is a good way to help your staff get to know each other.

The business environment of today is dynamic and fierce. While you are still considering training and CPD, your competitors might have already been training their employees for years.

More information concerning this topic can be viewed on various industry association websites; for example the South African Institute of Chartered Accountants at www.saica.co.za and the Public Relations Institute of Southern Africa, at www.prisa.co.za.

Chrisna Roberts is a partner at financial management and accounting firm Wallrich, based in Randburg.