For businesses to grow, survive, and remain competitive in their niche, they must take care of their employees. Supporting your employee’s professional advancement and personal growth is an impactful way to show that you care for them.
Employee development is vital for growth, productivity, and the ability to retain your top talent. Nurturing a learning culture within your organization improves employee loyalty and attracts new employees in addition to increasing profits and productivity.
What exactly is employee development and training you may wonder?
In this blog post, we will explore what employee development really means. Then we will look at other aspects of employee development, including how a company can benefit from integrating an employee development strategy for your organization.
What Is Employee Development?
What is employee development? Employee development refers to the continued efforts of an organization to enhance the skills of its greatest asset, employees. Employee development goes a long way towards creating a highly skilled workforce within your organization.
In employee development programs, employees participate in training or educational plans to refine and hone existing skills while acquiring new ones in support of the company’s goals and objectives.
Employee development is more than just meeting with your employees once a year to discuss areas for improvement or shortcomings. Employee development goes far beyond just implementing mandatory employee training.
Develop an organizational learning and development plan, and-more importantly-follow through. Employee development is all about nurturing your employees in becoming reliable resources to eventually benefit the company.
Employee Development Benefits Your Organization
Helping employees enhance their skills while developing new ones makes them better equipped for their roles. There is no age limit when it comes to learning and further developing skills.
Employee development also keeps your workforce on top of the latest trends and developments in the industry. Organizations must invest in their employees for them to become indispensable assets to the future of the organization.
A well prepared and implemented employee development plan will benefit your organization in the following ways.
1. Profits and Productivity
Employee development improves productivity. Statistically, employees who participate in training and development programs are 37% more productive.
Employee development will also boost productivity; in fact, organizations that invest in employee development maintain 24% higher profit margins.
2. Employee Retention
Employee development is the leading factor for employee retention in today’s work environment, especially among millennials.
The lack of professional development opportunities makes employees feel undervalued and underdeveloped. An absence of career growth is one main reason employees leave their jobs.
3. Attract Top Talent
In addition to improving your employee retention rates, employee development will also help your company attract top talent in the industry. Research shows that 70% of employees would leave their current job for one that offers better professional growth opportunities. Helping your employees improve their skills will keep them around for the long haul.
Research shows that 70% of employees would leave their current job for one that offers better professional growth opportunities.
4. Boost Innovation
Participating in development and training programs fosters creativity and enthusiasm. In that regard, employee development helps employees be more creative and independent when they encounter challenges at work.
Innovation gives your business the flexibility to expand and compete more robustly within its niche.
5. Better Employee Engagement
Employee development improves employee engagement and motivation. Having employees who are fully committed and engaged with the company at every level is essential for success. A highly engaged workforce leads to exceptional improvements in performance and productivity.
Employees are a fundamental resource that must be valued, nurtured and retained. Employee development is the most impactful way to care for your employees and make them feel appreciated.
Integrating an employee development plan takes a lot of time, effort, and financing, but these investments do pay off when done right. In the end, you’ll have a happier, highly skilled, and more productive workforce within your company. Employee development can help your business grow and remain competitive, among many other benefits. However, not every organization is well equipped to implement a robust professional development plan for its employees. If this is the case, we’re here to help. By providing our reputable level of employee insight and years of experience, we can commit to your team in evaluating current positions and further creating specified development plans realistic for current your state while acknowledging future growth. Our services will lead to an increase in productivity, more innovation, and a highly engaged workforce. Additionally, delegating this often time consuming and costly task to experts passionate about your success will allow you to focus on growing your business. Don’t wait any longer, contact us today!