Do you want your employees to leave the workplace half-hearted each day caring only about the paycheck they receive towards the month end?
If not, then you must start investing in them! With this, I focus on investment in the betterment of professionals by means of training. Yes, this topic is incorporated today in most business plans but is often overlooked. It is either due to budget constraints or simply because the management doesn’t find it to be of immense importance.
In today’s competitive world, employees constantly strive to achieve their goals and enhance their skills. When employers fail to provide for it, the employees begin to hunt for opportunities elsewhere. Did you know that on an average, it takes around 200% of a skilled employees’ annual salary to attract a new individual? Intimidating, isn’t it?
Wise are those organizations that are concerned about the welfare of their employees. And, you obviously wouldn’t want to burden yourself with the effort and time invested in the search for new talent. So, opt for investing in employee development as you not only retain the best candidates but also build an admirable work culture. Consequently, your employees will be all the more motivated to face challenges. Here are a few other reasons why investing in employee development is a whip-smart decision for all e-learning businesses and others alike.
Foster a positive work culture with employee retention
87% of human resource professionals consider employee retention as the topmost priority for an organization over the next five years, as per a study by Kronos and Future Workplace. And, the best way to do is by making them feel that you care for them and support and motivate them. Showing them that they matter will make them less likely to move on to another role in a different organization as they feel valued. Hence, fostering a positive work environment is the way to go.
Be the employer who retains not abandons
As an employer, how do you want your reputation to be? Do you want your employees to speak ill of you which further negates the entire space? Well, if you don’t want it to happen, then invest in employee development right away. As it is not only a good way to attract and retain employees but also a great technique to boost your reputation. You’ll be referred to as the employer who cares for its employees, can’t easily let go of the existing ones because of the value they generate. And, new talent would yearn to be a part of such a culture!
As simple as it can be, you do good for your organization’s employees, the same will gravitate towards you. Alongside, be considerate enough to reward your employees for their different achievements, be it for attending a conference and that’s an excellent reputation to behold.
Prevent employees from workplace idleness
We must agree to a fact that, after a certain point in time, any job whatsoever turns boring. And, we bet most of your employees have experienced this phase already!
Boredom in the workplace can lead to dissatisfaction amongst employees and promote negative working habits which unfortunately can spread. So, to steer clear of such a scenario, make it a point to bring up various employee development initiatives like training. It will help influence the company’s culture as the employees will be motivated and satisfied since their learning will not be stagnant.
Up your employees the organizational hierarchy
No one wants to get stuck in the same job for decades, especially when employees feel they possess the right skills and are a fit for their desired leadership role. But, if employers fail to appraise and enhance the role of their existing employees, they are likely to lose them.
So, if you want to retain your best talent, appraise and promote them alongside allowing them to explore leadership opportunities.
Don’t follow the toxic approach of not giving your deserving employees the opportunity to climb the corporate ladder. It is them who know your organization inside out rather than any new talent considering the amount of time they’ve spent. Prepare them well for their role, if need be by providing them training which further instills the feeling of being valued amongst the workforce. In addition, internal promotions are a natural growth trajectory that the employees are enthusiastically ready to be a part of. Such dedication and concern on the part of employers attract loyalty and cooperation from the employees.
Investment in employee development offers a multitude of benefits to both parties. It generates a pool of avenues for employees which in turn helps businesses grow. While employees enjoy the benefits of incorporating new skills, employers experience a boost in their reputation as the dedicated and loyal employees have helped spread the word.
This mutual growth is a stepping stone to achieving all organizational objectives alongside maximizing the profits.
And, the best thing in the midst of all this is the presence of latest technology like learning management systems and cloud authoring tools which help you track the ROI on your business endeavors. So, find rapid authoring tools for your business and get started with employee development today!