Training is crucial for companies large and small. It has the potential to save money and increase profits. A training budget is one some businesses are fearful of having; fearful of how to train, who to train and what happens after they have trained. But it is a false belief – Training empowers and can motivate a workforce.
I am about to start the delivery of training workshops to offenders in prison, where training one person costs less than £150 but if effective, and combined with other support, can save tens, possibly hundreds of thousands of pounds.
The Prime Minister recently announced a prison ‘overhaul’ and that prisoners should be treated as potential assets.. Prison is similar to business, in that you need to invest to ultimately save. But the costs associated with prison won’t be reduced just by creating ‘reform prisons’. Similarly, providing a building with the basic needs won’t make staff satisfied. There must be investment in the individuals to nurture improvement.
“It costs £65,000 to imprison a person in this country once police, court costs and all the other steps are taken into account. After that it costs a further £40,000 for each year they spend incarcerated.”
And there are many stats that show once you have been in prison you are more likely to return. Even if individuals have the will not to return, they are likely to suffer from poor employment opportunities for life, and so become dependent on welfare.
So the benefits of our current training programme in the prison, whilst it may not prevent somebody being sentenced to prison in the first place, could prevent them from returning and improve their overall quality of life, which then benefits society and helps to improve tax spending in the long term.
By ensuring training is a part of your company’s objectives, you could not only attract the best staff, but also ensure they stay, which in today’s world puts you ahead of the competition.
So in real terms how much could training save you?