As an entrepreneur you will always have your hands overflowing. Especially if it is your first venture, you will find yourself quickly overwhelmed. There are many aspects of running a successful business from marketing and creating a trusted brand image to accounting and managing your finances. Because of which you may need assistance from someone who knows more regarding the subject; somebody who has been in the field and know the ins and outs. This is where the need of consulting comes into picture. This can be helpful especially if you need to fill in the knowledge gaps and get an in depth understanding on how to better unlock the potential of your business. The only difference that separates you from the big leagues could be a minor aspect. A business consultant helps you see what it is that you are missing out!
But calling in professional business consultants makes more sense if it is a short-term project. But what if you could have an in-house consultant to help you with every step of the way? We have a look at why you should consider having an in-house consultant, and weigh it with why you shouldn’t. The task of making the final call will finally have to be yours, because after all, you know your business better than any consultant out there!
Training A Talent Available On Tap!
Every organisation, business and firm does this. Training is an essential aspect of any organisation. Ask an HR manager, they’ll tell you! You can’t expect someone to simply waltz in through the door and know the A to Z about the job, let alone meet your expectations. For starters, they will need to know the various structures, policies and company procedures.
But training someone to consult your business requires a whole load of patience and money. So what is it that you need to know before you make the jump? We’ll tell you.
|Opportunities To Build A Team||Improper training can hurt|
|Decreases Employee Turnover Rate||Time Consuming|
|Reduces The Long-Term Staffing Costs||Lack Of Expertise|
- Cuts Down On The Employee Turnover Rate
The employee turnover rate is the percentage of the employees that leave an organization over a period of time. These include the voluntary and involuntary resignations, non-certifications and retirements. Employees that are well trained will feel themselves as being more competent for the job. The competency moulds their confidence which in turn can be seen as a reduction in the employee turnover rate especially if competitive pay and benefits are involved. In the end there is clear cut expectation that is expected from the employees and this is clearly communicated, leading to them being less frustrated.
- Reduces The Long-Term Staffing Costs
If your employees keep leaving, then you are forced to recruit more. Those recruited will need to be trained and these initial training costs mount over time! These costs way exceed the long-term cost and fall short of the benefits it yields. By offering them the training they need to excel at their job of consulting, you are increasing their satisfaction and eventually their productivity! Your employees will be happier and the chances for them seeking other companies for employment opportunities reduce.
- Opportunities To Build A Team
Since your employees work and interact together, there will be a stronger sense of camaraderie. This will help break down boundaries and allow them to work in a more united manner with the common goal of excelling the company to greater heights. You can better problem solve and brainstorm if everyone is on the same page!
- Training Need To Be Proper, Or Else Will Yield Improper Results!
The method of training needs to be proper in such a way that it allows the trainee to learn and implement what is learnt in the best possible fashion. What happens when the training is flawed? The resources that went into the training are lost, and there is a need to re-train the employee that will increase the zeros on the balance sheet by the end of the financial year!
- Time Consuming
The process of having an in-house consultant is not as easy as it sounds. The training will require time; to such an extent that the employee is completely adept at what he is expected to do. If you are expecting fast results then you are looking at the wrong place.
- Lack Of Expertise
Bringing in consulting professionals means bringing in somebody who has been in the field for quite some time! They have plenty of experiences to back their high fees, and the knowledge they bring to the table is unparalleled. You are not the first company that they have consulted!
An in-house consultant who needs to be newly trained however lacks the experience and expertise. If you are an upcoming entrepreneur, then this will end up biting you hard!