In a capitalist society, organizations are in business to provide a service or product to make money to continue staying in business and provide their services or products.
Whether it’s a manufacturer, government agency, a corner store in the neighborhood, a retailer, a sole proprietary entrepreneur business, a daycare, a food service provider, a radio or TV station, or a major tech giant, the lifeline of all businesses are its people! Educated, well-trained, customer/quality-focused, innovative, adaptive, ambitious, and ethics-driven people are at the core of any successful business or organization.
No matter how great your product or service is, no one likes doing business with schmucks, jerks, lazy or incompetent people. Such people produce “bad” customer experiences and inferior products and services, and shotty customer service will hurt and destroy a brand.
The metrics often used to evaluate the success of a business are profitability and market share dominance of the business or service. But it’s the people behind the numbers that actually drive the success metrics! American business leaders must make stronger investments in their employees.
In 2021, U.S. employees buoyed corporate profits to record heights! “For the full year 2021, pre-tax profits rose to roughly $2.81 trillion, handily outpacing the 7% rise in consumer prices over the same stretch,” Axios news outlet reports.
“According to Training Magazine’s 2021 Industry Report, the average company in the U.S. spent $1,071 per employee this year on training costs; that’s $40 less per person compared to 2020,” reports ELM Learning, a prominent eLearning agency. That’s a paltry dollar amount that the corporate industry invests in its employee’s annual professional development! In comparison, the spend investment in K-12 educational development of our public school students by Federal, state, and local governments is approximately $14,418 per pupil, as reported by Education Data Initiative. It’s odd that an average grade school child benefits from a stronger training/educational budget than an average adult industry employee in America!
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