When your employer shies away from the cost of training a new employee, you have the prerogative to walk away from such an organization. In reality, this is a bad omen for such an organization as it can never achieve its goals and desired productivity. According to the US Bureau of Labor, the failure of business organizations to train their employees is costing them about $1trillion in loss annually.
This article discusses the cost of training a new employee, why every employer should incur it and how it can be optimized to bring out the best in new employees.
Cost of Training a New Employee
The process of your integration into a new workplace requires you to be trained for you to function effectively in your new roles. Even if you are joining a new company as a seasoned professional with a wealth of experience, you still need to experience a learning curve to aid you in mastering the company’s culture, routine tasks, and established processes.
All these will come at a cost to your employer. However, the cost of training a new employee varies because different positions require specialized skills.
Again, certain variables affect the total cost of hiring and training a new employee, such as the administrative hours spent on the new hires during the recruitment. Also, the demands and skills required to perform the job roles with some level of an efficiency drive up the cost of training a new employee.
Furthermore, how experienced and knowledgeable the new hires are when taking on a new role determines how much training is needed and how your employer facilitates it.