Employee Training Programs: What They Are & Why Your Company Should Have One

trader training

Thinking about starting an internal training program at your company? In today’s blog we discuss what they are, why your company should have one, and what you can learn from AIFP’s 2-year paid trader training program.

What is Staff Training & Development?

Staff training is the process of providing employees with the knowledge, guidance, and practice they need to succeed in their current role. Staff development focuses more on providing individuals with the skillset they need to grow into higher level roles within the company.

The Perks of an Internal Employee Training Program

While there are plenty of external training programs to purchase for new hires, here are some of the perks of creating your own internal employee training program within your company.

You Can Control the Content

When you run your own internal staff training program, you have more control over the content and method of training. While external training programs by nature have to be broader, you can really hone-in the information and skills needed for the specific role at your company. Plus, your examples will come directly from things your employee might encounter in their role.

Your Employees Can Work While They Train

While paying to train your employees is a perfectly valid investment in itself, an internal training program gives you the ability to put employees to work in areas that may fall outside of their potential job duties. Starting your trainees off with administrative work, which AIFP does in its 24-month trader training program, allows them to learn more about the industry while doing work that benefits the whole company.

You Can Control the Pace

Because external training programs are created to be broad enough to target a wide-range of potential employees, they tend to move at a set pace. When you create your own internal employee training program, you can control when trainees move onto the next level. That way, you know they’re prepared for the next step before you send them on their way.

You Can Showcase Your Company Culture

It’s no secret that at AIFP, we believe that company culture matters. And when it comes to training programs, having an internal program means yet another opportunity to help a new hire learn about and find their place in your company culture. Plus, informal in-house training can carry on even after the program is over. Creating an employee training program that values mentorship, for example, encourages mentorship even once a trainee has graduated from the program.

You Can Consider a Wider Range of Applicants

While some companies rely on hiring individuals with years of industry experience, we believe there is value in hiring individuals with a strong work ethic and applicable skills who are either right out of school or who are coming from different fields. By having an effective employee training program, you can confidently take chances on job seekers who are ready for a new challenge but don’t have much experience in the field.

AIFP’s 24-Month Paid Trader Training Program

At AIFP, we’ve thought a lot about how to train employees the right way. In fact, that’s how we cultivated a highly successful paid trader training program that helps new hires come to understand the intricacies of the lumber industry and lumber trading through hands-on training and mentorship.

In the first year of the program, traders-in-training work as interns for our administrative team before transitioning to a departmental intern. They also work closely with a tight-knit team of mentors, including a senior trader, a trader trainer, a professional sales trainer, and our company president.

In the second year of the program, individuals move onto trader-specific training, where they begin to get hands-on experience on the trading floor. Throughout this whole experience, trainees are encouraged to participate in company events to help develop relationships and camaraderie across the team.

If you’re interested in a career in lumber trading at one of the best places to work in Portland, Oregon, apply to AIFP today! In the meantime, check out our lumber blog, where we cover everything from how to become a commodities trader to southern yellow pine facts, uses, and industry insights.

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