F&I Gotchas: How Leadership Buy-in Can Improve Employee Training Despite High Turnover
“Gotcha!” It’s fun to say, not so fun to hear, particularly when you’re hearing it from the Federal Trade Commission, Consumer Financial Protection Bureau, or other regulatory authority. Is your dealership about to get got with a fine, jail time, an expensive lawsuit, reputational damage, or even the closure of your business?
KPA District Manager and F&I Team Supervisor Ryan Daly is here to help. Here’s what Ryan has to say about the difference leadership buy-in can make for employee training in a high-turnover industry:
“Your biggest area of risk is the untrained employee.
How often do employees turn over in the automotive market? It’s 70%, according to NADA.
Everyone knows training is not sales and F&I employees’ favorite thing to do. But the reality is it has to be done. The importance needs to be stressed, the tone needs to be set, and it all starts at the top.
I was recently a dealership during their morning sales meeting, and the GSM hammered to the employees all of the training that he had recently taken to show the emphasis on how much they needed to take it themselves. He had recently incorporated all of the training into his dealership.
Within 3 days, training completion was in the 90s. It really made an impact.”
For more of Ryan’s F&I “gotchas,” join Ryan for the upcoming F&I Gotchas Webinar.
