If we were to wind back the clock a couple of decades ago, we would assume that the term “employee development” did not exist. Even if companies were aware of its meaning, the chances of them implementing its philosophies would be slim to say the least.
However, over recent times there has really been a shift in culture in relation to this. Big companies in particular are happier to invest in the development of their employees, whether it’s through training programs or even just sending them to industry conferences.
Whether or not this is the case for smaller companies, who perhaps have more constraints in relation to budgets, is debatable. However, business education is shifting; whether it’s from single day training courses or online MBA programs.
Following on from the above, let’s now take a look at some of the reasons more companies are getting more comfortable with employee development, and how you might decide to follow the same pathway.
The employee turnover numbers
Any company that has a high turnover of employees is asking for trouble. Let’s not forget that the recruitment business is an expensive game. Positions tend to be left open for long periods of time, leading to unproductivity, while once you do find your star candidate there is every chance that you might have to pay a recruiter fee or something else to guarantee their signature.
As such, training is a means of keeping employees and ultimately making your business a much nicer place to work. It is regarded as a “perk”, and a way of showing your employees that you respect their career. It’s something that will tend to breed loyalty and ultimately, weaken the chances of them jumping ship at the first opportunity.
It becomes easier to promote from within
This follows a similar vein to the previous point we looked at. As anyone who has been involved in recruitment will testify, as soon as you start looking to fill more senior positions the business becomes much tougher. There are far fewer candidates out there, while their higher salaries naturally means it’s a bigger risk.
If someone is trained internally meanwhile, the process can be made much easier. They already know the culture of your company, while you already know all about them so the risk is much smaller.
Employees tend to be more engaged at work
This next benefit works in several ways. Firstly, an employee who is picking up new skills suddenly has a lot more options available at work. They can apply themselves in different ways and this should, theoretically at least, prevent boredom occurring.
Then, there is the training itself. Once upon a time training courses were one of those things that everyone tried to avoid – they were boring to say the least. Now, the outlook has changed, and an interactive way of learning means that employees actually look forward to them, and see them as a positive to their daily routine.