4 key reasons you should encourage your employees’ development
Recognising that your workforce is an important asset to your organisation is the first step towards appreciating the need for employee development. Having this in mind, you will consider ways to nurture this asset such that it brings more value to the organisation. Besides financial incentives and rewards, employee development is one way to nurture your workforce and reward them for their dedication towards working to achieve organisational goals. Here are some key reasons why you should develop your employees constantly:
Employee development is an investment for your organisation
Managers and even executives often view employee development as an expense rather than investment. The question they commonly ask regarding developing employees is, “What if we develop them and they leave?” The perfect response to this question is, “What if you don’t develop them and they stay?” The organisation has more to gain by developing employees than not developing them. It is important that managers have a long-sighted view of the organisation and work towards achieving long term goals. This means investing in employee development today and reaping the benefits in the future.
Retaining the best talent
Research shows that 70% of employees’ decision to stay at their place of work is influenced by job-related training and development opportunities. Further, 40% of employees who do not receive the necessary training on their job leave their positions within the first year. This shows that employee development is one way to retain the best talent in your organisation. Employees who have benefited from training and development are appreciative towards the organisation and often become loyal to the company.
Improves employee engagement
Continuous training and development arms employees with the necessary skills that they need to perform their work-related tasks. Therefore, the better the knowledge and skills they possess, the more they are engaged at work. Proficiency in skills means that they do not struggle much to get the work done. Statistics show that 25% of employees would be more satisfied at work if they were given the opportunity to do what they do best. The more engaged the employees are, the better their work satisfaction and improved performance which benefits your organisation.
Developing curiosity and a learning culture
When employees are well-developed and talented employees take the initiative to acquire more knowledge and skills they become the quality talent that is valuable to an organisation. These people are always looking for ways to gain skills and improve themselves, developing curiosity and a learning culture. This type of culture benefits the organisation as the workforce is always ready to embrace change, and is versatile to try out new things and become innovative.
Conclusively, employee development will benefit both your human resource and your organisation. Therefore, actively seek and look out for employee development opportunities. Embrace this approach and you will enjoy the benefits later.