At QBS, we believe that our employees are the greatest asset we have as a business. In our own experience and by working side-by-side with clients on their HR and Benefits, we know how important it is to invest in employee development.
Employee development can attract great employees and improve levels of engagement.
These programs make employees feel valued – increasing employee loyalty and boosting your organization’s reputation. As job candidates are evaluating different organizations, having a development program can be seen as an added benefit – putting you one step ahead of the competition. Even better, motivated employees (those who seek continuous growth and strive for consistent improvement) will be more attracted to your organization.
Employees who participate in development programs are also less likely to become disengaged at work.
Ongoing training and frequent discussions on the future keeps employees engaged by providing both short and long-term goals. Plus, it’s tough to get bored when your consistently being challenged and exposed to new information.
Employee development programs make it easier to promote from within.
These programs allow team members to both improve their skills and expand on their knowledge of your industry. They also provide insight into potential strengths and weaknesses of team members at all phases of their career. Whether you’re a regional manager or the CEO, when it comes time to fill an open position, you will be much better equipped to make an informed decision.
Turnover is expensive.
An engaged, knowledgable and motivated employee is every manager’s dream. Yes, employee development programs do come with a cost. However, well-trained employees become more proficient and efficient as time goes on. Conversely, the need to frequently hire new (or terminate) employees can be exponentially more costly in in terms of not only in dollars, but also in client relationships and company reputation.
Development programs keep your eye on the future.
Keeping close watch on the development of your employees means numerous discussions on their futures within the organization and the future of the organization itself. Employee development programs force you to take a hard look at company culture and plan for future growth, which hopefully means you’ll be one step ahead as things progress.
Original post from Inc. Magazine can be found here: http://www.inc.com/chad-halvorson/5-reasons-you-should-be-investing-in-employee-development.html