CFO asks: "What happens if we invest in developing our people & then they leave us?"
CEO: "What happens if we don't, and they stay?"
Many people have read and shared this conversation between the CEO and CFO before. Well, what these people didn't know is that the conversation didn't end there.
CFO: "Replace them when they can no longer perform up to expectation."
Whether to invest in training depends on the management philosophy of the company. Inevitably, there will be companies who does not believe in investing in its people. So what are the reasons why companies are not doing so?
1. The company does not recognizes the need to train. Why do companies need to train its people when things are moving and the company is doing well?
2. Difficulty in identifying training needs. What are the areas that requires training?
3. Training incurs cost. Keep cost low, so that the company can be more profitable.
4. Why train when companies can hire?
4. Employees who are trained expect higher compensation. Why pay to train and increase the employees' compensation?
5. No visible return on investment. There must be some form of measurable return on this investment, for example, higher productivity.
6. Employees come and go. No reason why companies would train for their competitors.
Maybe some companies do not intend or expect to keep their employees for long. Is the lack of training one of the reasons you are leaving your company? Let me know.
*Side note: Dear HR, are you able to convince your boss?
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