Machinery Lubrication

Machinery Lubrication Jan Feb 2016

Machinery Lubrication magazine published by Noria Corporation

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L u b r i c a t i o n P r o g r a m s any organizations analyze return on investment (ROI) for nearly every initiative they begin, but when was the last time you saw an ROI calcula- tion for education? The power of an educated workforce can help a company on many fronts. Whether it is a lubrication and reliability program or a health and wellness program, education is critical to the overall likelihood of a program's success. According to a recent report from the American Society of Training and Develop- ment, U.S. businesses spent in excess of $175 billion on employee learning and develop- ment. Surely these companies have a grasp on their return for this huge investment — or do they? The results of simple training on a process can be easily measured in things like productivity and efficiency of that process, but what about finding the value of more intangible training programs like lubrication and machinery reliability? There are so many variables to the success or failure of these programs that it becomes difficult to pinpoint exactly what percentage of the success can be attributed to education. While it seems most everyone under- stands the importance of training, no one can put a number on it. In a survey conducted by the ROI Institute, 96 percent of Fortune 500 CEOs said they were extremely interested in learning about the business impact of training programs, but only 8 percent could see this happening in their own companies. There are techniques to isolate the financial benefits of training programs, including establishing control groups, agreeing on performance contracts with team members and monitoring business performance. Even though these financial benefits can be massive, when set aside, there is still compelling evidence as to why an educated workforce is a major advan- tage for any company. Greater Efficiency Training helps a company run better. Trained employees will be better equipped to handle issues that arise, address customer inquiries, make a sale or use computer systems. The more knowledge employees have about a given subject, the more successful and efficient they can be completing tasks related to that subject. Better Recruiting Today's young workers want more than just a paycheck. They are geared toward Why EDUCATION is the Secret to SUCCESSFUL CHANGE M FROM THE FIELD Jerem y Wrigh t | Nori a Corpor at ioN 8 January - February 2016 | 40 P E R C E N T of Machinery- visitors say training of personnel is the most impor tant factor for continuous improvement of their lubrication program

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