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Invest in Contractor Education
Most contractors get their education in the school of hard knocks, from spinning a wrench all the way up to how to make the challenging move from employee to business owner. But taking a more active approach on learning should take you a step ahead of the hard knockers. It is true, maybe your business will survive without educational or training programs, but with these tools you will have a company that is above the average, a healthy and prosperous company that will be on top of the rest.
In its 1999 Contractor Survey, the PHCC Educational Foundation estimated that only 37% of contractors have an annual budget for attending educational conferences and seminars. The total budgeted per year to cover education expenses for all their personnel summed approximately $5,000. Do not forget that every dollar you spend on training helps you company to grow and provide more profit. Furthermore, remember that education is a process that must be continued in order to work. Assisting to a conference once is not enough to get the benefits of training for the rest of time; you need to feed your employees with continuous educational programs so that they are always motivated.
As a final point, you should apply on the job what employees learn at trainings. After a seminar, hold a short meeting with the employees who attended the session; this in order to talk about the ideas that they got out of the training. Ask what they learned, and how they can put it to use. Ask them how they will make these changes. The answers should be written down as objectives and implementation plans (verbal goals are forgotten easily). Then, schedule a meeting a few weeks later to check progress on the objectives of the employees.
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