Additional training could help you run your business more effectively and boost your profits, but is it worth it? In the modern work world, this seems to be a million-dollar question—or, more accurately, a billion dollar question, since Harvard Business Review reports: “U.S. companies spent an estimated $12 billion…on leadership development programs and services” in 2009 alone, accounting for “24% of their overall training budgets.” The fact that American corporations are willing to dedicate nearly a quarter of their educational resources to these programs indicates their value to businesses. At Measurable Solutions, we offer a variety of executive training courses both at our facilities and online to help you expand your business and increase your profits. In the following blog, we cover the major factors to consider when deciding if executive training is a worthwhile investment for you and your company.
Review the Statistics
As our consulting firm’s name suggests, we are all about quantifiable results. Recent research indicates that investing in executive training is, in fact, a measurable solution. If you’re debating purchasing executive training, consider the following numbers:
- A study by Fast Company found: “63% of organizations say they plan to increase their use of coaching over the next five years” and “92% of leaders being coached say they plan to use a coach again.”
- In 2011, Forbes reported: “a recent global survey of [executive] coaching clients by PriceWaterhouseCoopers and the Association Resource center…concluded that the mean ROI [Return on Investment] for companies investing in coaching was 7 times the initial investment, with over a quarter reporting an ROI of 10 to 49 times.”
The proof of the pudding is in the eating, and these accounts all indicate that executive training is extremely worthwhile for businesses.
Beyond the Obvious Benefits
The primary objective of executive training is to help you become a better leader by improving your ability to manage employees, define your company’s products, and create workable strategies to achieve your goals. These are the main reasons owners and managers typically invest in this type of coursework. Executive training would be advantageous enough with just these basic benefits, but it often offers additional, unexpected perks, such as:
- Personal improvements. Refining your leadership skills can help you become more successful outside the office, as well. Executive training could allow you to improve not only as a boss, but as a parent, partner, and friend.
- Savings related to employee retention. In his Forbes article “10 Reasons Why Companies Should Invest More in Management Training,” Victor Lipman notes: “Respected well-trained managers boost morale, and improved morale boosts retention. And as you of course know, it’s wicked expensive to hire and fire.”
- Networking. Especially if you attend in-person courses, you could meet great contacts throughout the course of your executive training. Who wouldn’t want to build a mutually beneficial partnership with a fellow high-achieving business owner?
What Our Clients Have to Say
So, is purchasing executive training from Measurable Solutions a good idea? Hear it straight from the horse’s mouth. This is what our current clients have to say about their experiences:
- “The experience with Measurable Solutions has initiated a kind of personal development and business development track for both my business partner and I that I don’t think we ever would have started down had we not come into contact with this group.” – Chad Elms, who expanded his business by a factor of 20 with our assistance.
- “Once we embarked on the journey of the management and executive training, it was evident that our primary statistics got a bump each time we returned from Measurable Solutions…I have also noticed a significant carryover into my personal life…I am much happier on a daily basis, and have a more focused purpose. Our relationship with Measurable Solutions has been the single greatest investment we have made since opening our practice.” – K.C.
Invest in a Measurable Solution for Your Business
Executive training could help your company reach its full potential and deliver an impressive ROI. To find out more about our services or schedule a consultation, contact Measurable Solutions today.
