Many say, “Our people are our most important asset.” Few mean it.
But there is a for-profit organization walking the talk, putting their money where their mouth is and proving that they invest in their people. The really eye-opening part is the company is investing in its employees, knowing many will take that investment elsewhere. The organization is Arby’s. Yes, Arby’s — the very one that serves you great meats on a bun with the famous Arby’s and Horsey sauces.
One of the biggest objections to investing in employees is they might take the training to a different employer. It happens, especially in the restaurant industry. Last year, the average turnover in the industry was 110 percent. Arby’s was lower but was still way above the national average, which is below 20 percent. Given these odds, Wall Street would say that no executive team should ever invest in training any single employee. Yet Arby’s does. Why?