Training & Development - why we're spending more than ever

Today is a big day... Step 3 of our march out of lockdown has happened. On time!

Article by Everest Media MD: Sam Armondi

We can hug our loved ones (carefully of course!), enjoy a pint without needing patio heaters and 3 coats, and many other good things.

So it got me reflecting on our own lockdown (and recovery) journey and one thing struck me: The amount of money and time we have spent on training and developing skills in the past 12 months.

Like many other businesses, the first lockdown hit us hard. A lot of the work we're engaged for is either fully outsourced projects or capital expenditure projects, which were the first things clients pulled back on when the pandemic struck. In fact, in our worst month of 2019 we billed less than in our first month as a limited company!

Like most other MDs & CEOs out there, I found myself poring over Xero reports trying to identify which costs we could cut. But amongst all this cutting, our training costs actually went up both in absolute terms and as a % of revenue. In fact, since the start of the pandemic we have spent on:

  • Leadership training
  • Sales and business development training
  • Training for our consultants in digital transformation
  • Design thinking training
  • User research, prototyping, and product development training
  • Marketing automation training (on 2 different platforms, but that's a story for another day...)

So why spend all that time and money right now? Quite simply, the "new normal" world is changing even faster than it was pre-pandemic but our mission has not changed. We still want to help our clients progress towards their goals with purpose.

Client expectations are changing, the pace of change is accelerating, and the complexity of solutions is increasing. Without the right training, we can't expect our people to live up to our mission. Worse still, we can't expect them to want to stay the course and share the journey if we're not investing in them.

Of course, our work is not done yet. Our "progress with purpose" mission applies equally to our people as it does to our clients, and we have several initiatives in the pipeline which will help us make this year our best one ever for learning and development. And next year will be even better than this one.

Photo: Everest Media MD: Sam Armondi

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