As the economy inches toward what seems to be a rebound, and even as economists debate whether a full recovery is underway, organizations across industries find themselves re-examining priorities of expenditure. Is now the time to invest more in product and service development, build new strategies in marketing, or invest in the workforce?
Each month, AchieveGlobal hosts an online poll through our eNewsletter, Achieve. In July, our survey asked, “What drives the biggest increase in revenue for your organization today?”
The results of our poll provide insights on how a variety of factors influence revenues. Right behind an “increase in products and services,” the largest group of participants said that “training the workforce with skills needed for revenue-producing activity” drove the biggest increase in revenue for their organizations. This was even ahead of “different approaches to marketing message” and “growth in emerging or new markets.”
So while innovation and business strategy are both extremely important when it comes to maintaining or improving competitiveness, it stands to reason that employee development is a top concern for organizations that seek to increase their revenues.
You might say that an ounce of training today could result in a pound of revenue increase tomorrow!
To subscribe to our monthly newsletter, "Achieve" and participate in our regular polls, visit https://www.achieveglobal.com/research-and-resources/enewsletters.aspx
Sharon Daniels is CEO of AchieveGlobal in Tampa, Florida