The Aftermarket Needs to Implement Training Bonds

The Aftermarket, at all levels, must seriously look at how it handles on-going training and education of their staff.

We now require an incredible amount of time and serious investment to ensure personal development of each and every staff member is brought to the right level of education, understanding and skill to ensure they can execute their function professionally,in a productive and efficient way within the business. Whether it be technical - minimum of 100 hours per year of training per technician to stay on top of technology, business management - 6 to 8 days per year of ongoing upgrading to stay on top of business issues and to learn proven solutions, product knowledge or soft skill training, the investment by business in education is forever increasing in today's professional aftermarket. The problem in many cases is that management can see the need for training and educational development but is reluctant to spend the necessary money for fear the employee may leave the company soon after the training has taken place.

The old question is...What if I train them and they leave? The old answer is....What if you don't train them and they stay?

The solution? Implement a Training Bond.

A Training Bond is a legal agreement signed by the employee and the company at the time the employee is hired outlining the training and educational courses the company is going to provide to the employee. It is an understanding by the trainee that he or she will take the training outlined in the Bond agreement, fully participate and do their best to learn and understand the courses attended and at the same time acknowledge the investment the company is making into the employee. If the employee leaves the company within a certain period of time, then, based on the time frame, the employee will, on a pro-rate basis, pay the company back for the training. For example, if the training investment into the employee by the company over a series of courses is going to be $10,000, then the training bond may state that if the employee quits within two years from the start date of employment, the employee owes the company $10,000. If the employee quits in the 3rd year, the employee owes the company $6,000, the 4th year - $3,000 and the training debt is forgiven in full at the beginning of the fifth year. This is an example only, however, it clearly recognizes in writing the investment being made by the company and the accountability by the employee to treat the investment seriously.

If the employee is fired for cause, the company forgives the Bond, however the employee now has a permanent mark on their record of employment.

The level of maturity within the business is raised.

This will be the new aftermarket. It is evolving into a full profession as education and knowledge is the key to company profitability and employee prosperity. On-going investments must be made and acknowledgement and accountability of the investments must be put into place. That's what Professionals do.