Many organizations don't realize how heavily they invest in getting employees trained and independently productive. According to the American Society for Training & Development, U.S. companies spent $79.85 billion in 2006 just on internal staff training. The average ramp up time for a new employee to be fully proficient is 13.5 months!
The time, effort, and expense of adding and replacing people can be staggering.According to the U.S. Department of Labor, it costs over $21,000 to train and hire a $32/hr worker and the cost to replace an existing employee can be as high as 1.5 times their annual salary.
What if you could get new hires up-speed faster and with less time, effort and cost? See below how some of our customers are reducing training time, reducing turnover and employee replacement costs:
A national auto services company was experiencing customer service problems and escalating operating costs. Service was different from store to store. Each location had its own way of doing things, making it difficult to shift employees between stores. Training was haphazard and ramp-up time for new employees was too slow.
By implementing COMPROSE's Operations Mapping techniques and Zavanta software, the company was able to address training deficiencies very quickly. By standardizing work processes across their 100 stores they significantly reduced new-hire “time-to-competency.” They experienced other benefits as well. Through this process they were able to reduce transaction errors and customer wait times. Now, a customer can go to any one of their 100 store locations and will get the same level of quality service.
Community Bank Cuts Ramp Up Time, Reduces Impact of Staff Turnover
A community bank had grown quickly but was starting to see several competitive threats. Staff training was becoming a real problem. In the Teller area alone, turnover was 30%. It was becoming more and more difficult to keep everyone updated on new laws and regulations. When the bank was faced with yet another challenge—training everyone on fraud prevention and identity theft—it became obvious they could no longer sustain their old ways of “on the job” training.
They set their old, antiquated policies and procedures aside and hired COMPROSE to create a flexible, web-enabled business system that could be used for training and regulatory compliance. Using Operations Mapping techniques and Zavanta software, COMPROSE delivered to them a “New Accounts System” that could be used to train from and meet Bank Secrecy Act (BSA) compliance. Using this system, the Bank decreased overall ramp-up time. Standardized processes across all their branches meant they could now move floaters around from branch to branch, improving staff productivity.
The training department of a large, international financial services firm was challenged with training account reps throughout their Wealth Management division to properly use complex software for managing 401K and Defined Benefits plans. Software changes and protocols changed frequently. Reps were spread out in offices across the Eastern U.S. as well as in the U.K. and training resources were in short supply. The firm needed a way to leverage their training staff’s time more efficiently and be able to get updated protocols out to the field faster.
Applying the COMPROSE Operations Mapping method and Zavanta software, their training group created a flexible, multi-use business system that linked all processes, policies, responsibilities, and detailed tasks together. Having a single system for operations and training has delivered significant cost savings. Training can now be delivered faster and more efficiently. The “end users” —the Wealth Management staff—are delighted with the quality, thoroughness, and accuracy of the results.
