Training Matters THE GIBRALTAR FINANCIAL SERVICES HANDBOOK

Editor: Or D. M.Sloma

PC Box 555, Gibraltar www.gfsh.gi Tel & Fax (350)79385.

Information on the Rock's off-shore advantages in Taxation, Law, Banking, Company & Trust Formation, Insurance, Business, Property and Financial Services. Comprehensive A-Z Index for the visiting professional or businessman and the discerning investor.

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240 pages providing a practical guide to doing business and working in Gibraltar.

An employee who is comfortable with the technology he/she is using will perform more efficiently

Do you expect your new employ ees to be already trained when they show up for their first day on the job? Too often employers are look ing only for a "ready-made" em ployee. It is unrealistic to believe that all new employees have the abilities and skills necessary to immediately perform the required tasks to your standards.

There are also employees, who have picked up their knowledge through "trials and errors" and are often in misconception of being an "expert",and would endeavour to solve ail the IT problems at their empiovers'expense.

The missing link is the lack of professional training and retraining for new and established employees. The benefits are very cost effective.

TTiere are numerous benefits of investing in employee training and development,including;

1. Increased job satisfaction and morale among employees.This has an added benefit of making your company more attractive to prospective employees.

2. More motivated workers, which in turn tends to increase productivity and spur profits.

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3. More effective and efficient use of workers' time as a result of higher skill levels, combined with a better understanding of the job function.

4. Employees who know they are competent, and therefore feel more confident. Self assured, well-trained employees are im portant in the debt collection function.

5. An increase from employees in the number of ideas, recom mendations and suggestions for improving performance,or processes and procedures.

6. Lower overall employee turno ver and less absenteeism.

7. Investing in employee training enhances the company image as:

• a good place to work

• a company that offers its employees the opportunity to grow and meet their in dividual goals and aspira tions

• a company that values em ployees

• a company that nurtures its employees

8. Creating a pool of cross-trained employees can bridge gaps when someone unexpectedly leaves the company — or if they accept a transfer or a promo tion.

9. Doing so tends to create more efficient employees that require less supervision and who need less detailed instructions. This frees management's time for higher value added activities.

10. Employees that receive in houses training tend to be bet ter equipped to adapt to changes and challenges facing the credit department in par ticular, and the company as a whole.

Department managers must de termine where training is needed.

It is usually a poor use of resources to implement a department-wide generalised training programme. Scarce resources(such as a training budget)should be allocated where it is most needed. If the company'sl training budget permits each em ployee to be trained, then training! should be customized to; a. the needs of the departme and; b. to the skills and aptitudes of each employee.

Training Tailor Made can be con-^ tacted on Tel: 78714 Mobile:54303

Email: info@trainmgtni.com