hiring or training talent

Training Versus Hiring: The Question Companies Ask

Ekaterina Lepikhina Business

To answer the question of training versus hiring to meets company demands is not as simple as we’d like it to be. Especially in technology where everything is in constant flux, skills play a big factor in that decision. Training your current team to catch up to the technology requires someone senior to lead the team. Hiring someone to task that work means putting your trust on someone new. So where do you align yourself when you want to keep up with the haps in your industry?

Training Versus Hiring: The Pros and Cons List

Because the answer really lies in you as a manager, and in the company, there is no right or wrong answer to the question. But there are things to think about before you make the decision to train or hire. According to data scientist Alton Alexander, “There are two options if a company wants to scale, they can find new technology and increase their human capital. It’s really easy to go buy new technology….but the harder part is how do you scale your [analytical] workforce?” Like all other industries, data science is finding itself needing more talent. So let’s break the decision down.

Training Pros

  • Employees get excited about learning new technologies
  • Drive innovation and user creativity
  • Employees feel valued and get the feeling the company is investing in them

Training Cons

  • Training can be time consuming
  • Learning new skill and doing the same job
  • Conflict with project pipelines

hiring or training talentHiring Pros

  • There’s a subject matter expert
  • Alleviate stress from current employees
  • Solid skill in the technology

Hiring Cons

  • Culture fit may not be there
  • Soft skills can take a back seat
  • Integrating to the company

Here are just some of the thing you need to think about before you make the decision. Sometimes, hiring out the work is easier that training. Never forget to ensure that your employees feel valued in what they do. If you have any questions, ask us at Tractus Online!

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