Do Employees Really Value Training as Much as a Raise?

Value Training as Much as a Raise

Do Employees Really Value Training as Much as a Raise?  Could it be true?

According to a recent study of nearly 5,000 workers in Spain by Santiago Budría of the University of Madeira, company-provided training has the same effect on job satisfaction as a 17.7% net wage increase.

While that may sound surprising and pay levels certainly need to be competitive, more and more studies are finding that younger workers expect their employers to invest in their learning and development to improve their knowledge and skills and to help them to advance their careers. I know that when I joined Andersen Consulting (now Accenture) 20+ years ago, I purposely took a lower salary than many of my peers because Andersen was a great place to start my career. The investment they made in me in terms of opportunities and learning and development was unmatched.

If training, by itself, can boost job satisfaction as much as a 17.7% wage increase, just think about the additional impact you could get from the transfer of training to actual on-the-job performance.

Paying people more does not necessarily correlate to higher levels of employee engagement or improved performance. But well-designed training that transfers key skills and knowledge back to the job certainly does.  If you think your employees may value training as much as a raise, ensure your employees believe you are investing in their future by ensuring they have:

  • Been properly cross-trained to do other jobs to get a fuller picture of how the business works.
  • Been properly trained to do their own job proficiently.
  • Opportunities to learn new skills that will help them to succeed.
  • A meaningful job that gives them a chance to learn and grow.

To learn more about the transfer of training to improve performance and employee engagement, download 3 Steps to Building a Smarter Training Initiative – One that Gets Business Results

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Mitch Mandich
CEO

Edify

LSA’s approach and ability to bring the best resources to eBay has been a great asset. They really focus on helping us succeed in any way they can and are very flexible in meeting our management and talent needs.

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Learning & Development

ebay

Over the years, both at 3Com and now at Redback, I’ve found LSA Global to be a valuable resource. The recent compliance program that they delivered for Redback’s executive and management team was the right solution, of the highest of quality, and customized to our business and culture. I would highly recommend LSA to any company looking for top quality solutions.

Gina Fulton
Vice President of Human Resources

LSA helped change our entire culture around meetings, making them more effective and efficient, thus enabling us to concentrate on driving more business.

Terry Wassman
VP of Human Resources

Working with LSA Global has proven to be extremely valuable and worthwhile. LSA understands our business, has deep expertise in content areas, and tailors the programs to deliver great results. The facilitator was extremely knowledgeable about Working Globally with India and her energy and passion made the session interesting, fun, and enjoyable for all that attended. The participants walked away extremely pleased along with highly useful practices and tools. I would highly recommend LSA Global to any company that has partners or offices in India.

Glenn McGillivray
Human Resources Business Partner

Intuit

I am very impressed with the quality of work and talent. LSA did a great job of listening to my needs and providing the exact management training program expertise I needed to get the job done.

Don Pryor
Director, Business Planning & Analysis

“We turned to LSA to help us custom design and deliver a leadership and management development curriculum to help drive performance. They have done an excellent job diagnosing the business situation, designing an approach that fits our culture, and delivering a first class solution.”

Sally Buchannan
VP Human Resources

I have worked with other training companies and found it to be more of a seller/buyer relationship than one of matching the right expertise to our business issues. That’s what LSA does – ask the hard questions, listen, and understand our business needs. We receive the benefit of their expertise from assistance with personal development plans to enhancing team performance, to looking at enterprise-wide challenges. It’s all about helping our business succeed as we grow. Right now, LSA is providing great ideas, a fresh approach, and valuable guidance as we develop our management team and accelerate our client relationship management results.

Kristin Westland-Kaune
Director, Team Development

LSA’s Employee Engagement Consulting and Survey work has provided critical visibility into: how well our people are holding up under the general economic environment, as well as, the specific challenges that face biotechnology companies in their efforts to discover and develop new medicines; their level of alignment and commitment to XOMA’s Vision and mission critical strategies; how leadership practices and management systems support an environment that engender commitment, and the specific actions that our leaders can take to improve on areas that are important to our people. I highly recommend LSA’s employee engagement solutions.

Chris Wells
Vice President, HR and IT

LSA provided top notch solutions right when and how we needed them. They exceeded my expectations from a speed, quality, and cost standpoint. I recommend them to anyone looking for a true business partner in the Learning and Development arena. The breadth and depth of their expertise has helped us hit tight deadlines across multiple projects.

Fortune 500 Financial Services Company
Director of Infrastructure & Technology

I highly recommend LSA Global to anyone who is looking to improve individual or organizational effectiveness through their top quality programs and broad range of expertise.

Greg Pappas
VP of Human Resources

LSA is an instrumental training outsourcing partner in helping us to build management capacity and strategically invest in our people. Their flexibility, depth, and breadth of expertise allows us to deliver top quality solutions that are directly tied to key business plans. Their ability to custom design, deliver, and evaluate our Management Curriculum has been excellent. They are true business partners and a pleasure to work with.

Margaret M. Mader
Vice President, Human Resources

Hyperion

On behalf of Roche and my staff I would like to sincerely thank you for your help with this. The English as a Second Language (ESL) assessment and coaching that you provided for our team was a great success.

Cam Greig
Associate Director

Roche

We recently partnered with LSA Global to offer our Supervisors and Managers a customized two-day management training program. Everyone who attended said it was by far the best management training program they had ever attended. The content was rich and highly interactive. The case studies were relevant. Each participant walked away from the training much better equipped to lead their teams.

Jeff Coon
Director of Human Resources

LSA has become the gold standard in team building and management training at Genomic Health! I have a hard time finding facilitators that come close to their level of customization, expertise and experience.

Emily Couey
Director of Human Resources

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