CONSTRUCTION Accounting ARTICLE -On-the-job training provides lasting returns

Target Audience: Construction Industry Professionals, Business Owners, Project Managers, Contractors, Construction Accountants

In a perfect world, all managers would be natural born leaders, all employees would learn new skills by osmosis, and your entire construction company would move and produce like a well-oiled machine. And all of this would occur without you having to spend a single dollar or minute on training.

In reality, as a contractor, you owe it to your employees, your clients and yourself to provide on-the-job training at every level. Sure, it takes time and money, but not as much as you might think — and the results can mean a more efficient company and bigger profits.

Reasons to Train Construction employees

Chances are, you offer your employees safety training regularly — not only because it’s required, but also because it’s for their own good. Proper safety training also is good for your company because it minimizes job mishaps, thereby speeding completion, and helps lower workers’ compensation costs.

The same way of thinking should apply to on-the-job training. Keeping employees up to date on new policies (and even new competition) and introducing new products and technology can also move projects along more quickly while lowering expenses.

So why do so many contractors fail to initiate employee training? Cost is a commonly cited reason — especially when budgets are tight. Another common reason is time: Often your best people, who should do the training, are the busiest.

But think of it this way: Knowledgeable employees are more productive. They work faster, better and, in the end, they’ll make you more money. Plus, an employee who feels valued is more likely to stick around, helping to decrease turnover.

Even Leaders Need Guidance

Some managers within your company probably rose to where they are by exhibiting strong leadership skills. But if your company is like most, a lot of your managers likely got promoted to leadership positions because they were hard workers and great at their jobs, not because they were natural or skilled leaders.

These new managers need some training so that their management skills can be just as good as their other job skills. And even if new managers are natural leaders who can hit the ground running, they’ll need some direction.

Ease the transition and the learning curve by creating opportunities for new managers to learn from experienced leaders within your company. A mentoring program is a cost-effective way to educate employees and propagate company culture. If one-on-one mentoring is inconvenient, you can also consider affordable project-management training software. Prices on many applications start at around $50.

The Logic for Training Employees Is Simple

Well-trained employees and managers lead to successful projects, which lead to more jobs, which lead to increased profits. Plus, an on-the-job training program will help build a company culture where employees feel valued and motivated. All in all, a little time now can lead to a big return later — with many benefits in between.

Find out how our expertise in construction accounting can add value to your business. Email us or call us at 1 (888) 875-9770.

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