In a recent post we discussed how company culture could be your dealership’s most valuable competitive advantage. So, you’ve heeded our advice. You made the commitment to defining a set of core values that creates focus and drives your dealership toward a common goal, you’re transparent in your business objectives, and you’ve redefined your hiring process—making sure that new hires align to your dealership’s culture.
So, what comes next?
In an industry facing a turnover rate at an average of 67 percent1, it’s vital that we provide our employees the necessary skills and resources to be effective and feel valued in their position. Proper training and development are no longer a nice-to-have and must be included as a basic tenet of your company’s culture. In fact, in a study published by the Harvard Business Review, 44 percent of employees highly value supplemental training programs at work.2 Surprisingly, training is valued only behind competitive compensation, bonuses and retirement plans.
I think we can all agree that a happy staff means a retained staff, right?
It’s time to give our people what they want. However, this might leave you with a dilemma. Training can be expensive, but turnover from unhappy employees is expensive, too. Which do you choose? Recent studies show that around 40 percent of employees who do not receive adequate training end up leaving their position within the first year.3
Ultimately, we know that high performing individuals place a priority on training and development. If your budget is low on training funds, start with EasyCare’s complimentary virtual training (VT) platform and commit to including training in your company’s overall culture. Instilling leadership practices like telling your employees exactly what they will learn with each new task or assignment can motivate people to work harder and stay longer in their role at your dealership.
EasyCare VT makes it possible for your dealership to leverage training from anywhere, at any time, from any device. It caters to every area of your dealership, including F&I, sales, service, business development and management. Additionally, you receive goal-setting functions and progress updates to hold your team accountable for their own development.
With the right skills and knowledge, your team can make a more meaningful impact on your customers and your bottom line. If you’re ready to take the next step with EasyCare, sign up for our virtual training or view our full list of in-person courses through EasyCare University today.
1NADA Workforce Study 2What High Performers Want at Work 3How Investing in Employee Training Benefits Your Business
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