It probably won't shock you that I'm a big believer in employee development. It's what I do - I'm a trainer and a coach and I write about the benefits of investing in people. Furthermore, I know from experience as a former employee in companies ranging from small to very large that intentional employee development programs are impactful, meaningful, and valuable - both for the companies that drive the initiatives and the individuals who participate. I really like the Richard Branson quote: "Train people well enough so they can leave. Treat them well enough so they don't want to."
For many groups, the pressures of day-to-day business operations take priority over employee development activities. The research tells us that this is a mistake that prioritizes short-term objectives over the long-term benefits to an organization.
Here are three key reasons to maintain an ongoing employee development program:
1. Increased Recruitment & Retention
Prospective employees see training programs as a benefit, which gives you a competitive advantage in recruiting talent for your business. Furthermore, it attracts a particular type of talent: talented people who want to make themselves even better. As these employees mature in your organization, the investment manifests itself in loyalty and retention. It can cost more than double an employee's salary to recruit and retain a replacement - that's a huge expense!
2. Engaged Employees are the Best Employees
Disengaged employees are a nightmare for your business. They bring bad attitudes, adopt bad habits, and create stress for your engaged employees and the whole organization. Challenging, interesting development programs build engagement and increase employee satisfaction.
3. A Leadership Farm System
I can't tell you how many times a manager has told us that our training event helped them see a team member in a new light. It is amazing how engaging your team in leadership conversations will bring out unspoken perspectives that do not appear during everyday operations. Your employee development program will highlight promising leaders within your company - who already understand your business - and identify strengths and weaknesses for their future development. These budding leaders become promotable employees for years to come.
These are just some of the benefits of employee development programs for companies, teams, and individuals. Our Alloy team loves to create relevant, meaningful training programs for groups of all sizes. You can find more information at alloystrong.com. Better yet, give us a call today - and ask about our complimentary offer for new customers!