Studio98, Creator of Rethink Training, Cites Lack of Employee Training Among Leading Causes of Business Failure
Clearwater, FL (PRWEB) January 23, 2012 Studio98, the online business solutions provider behind Rethink Training, emphasizes that lack of employee training is a common cause of business failure; and proposes that better training can provide a competitive advantage that empowers companies to succeed.Rafferty Pendery, CEO of Studio98, cited Small Business Administration statistics indicating only half of new businesses survive five years.(1) He also noted that Dun & Bradstreet?s latest U.S. Business Trends Report estimates 89,675 businesses failed between April 1, 2010, and March 31, 2011.(2) ?While the reasons for those failures vary by company, many experts believe lack of training is a key factor,? he said.
Pendery pointed to Saratoga Institute findings from exit interview surveys: when departing employees were asked what their company did poorly, ?lack of training? was among the top 10 issues reported.(3) He also referenced a U.K. hospitality industry study that analyzed ho...