The number one key to success in any business is its people. That’s why attracting and hiring the best talent should be your first step towards building a solid and thriving workplace. But that’s not enough; if you have the best talents but you don’t invest in training them and developing their skills, your business will suffer on the long run and you will fail at retaining and recruiting the best people. Here’s where employee development initiatives come into play. ZenHR highlights 5 benefits your business will attain by investing in employee development programs.
1. Attracting great talent
Potential employees view formal employee development programs as a major employment benefit and offering such perks will give your company an edge over your competitors when it comes to recruiting the best candidates. Create an employee development program and include it as a benefit in your hiring package.
2. Retaining great talent
Since losing a good employee is costly, retention is considered to be one of the major challenges that HR departments try to overcome. Investing in training and developing your current employees pays off on the long run because it helps retain them, and that’s way much cheaper than having to find new ones. When employees feel that you care about their professional development, they will become more loyal to the company and they will be more likely to stay for years to come.
3. Creating future company leaders
Who knows your business better than the employees who have been working with you for a long time? That’s because they know the ins-and-outs of your business and they are well acquainted with your leadership style. Invest in a training and development program that will prepare your current employees to reach managerial positions within your company. Promoting from within will reduce the need (and expenses) when it comes to hiring senior managers.
4. Employees will be more dedicated to company success
Building an employee development program not only helps you retain your best employees, it also builds loyalty within your team. Loyal employees will always be more engaged and committed to helping the company succeed. Employee development programs are also a great way to keep your employees motivated and challenged to perform better.
5. Better employees = more satisfied customers
Employee development programs pay for themselves! When you better educate your best employees and provide them with the needed training to enhance their skills, they will perform better and create better returns for the company. Always remember that happy employees create more satisfied customers.
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Categories: Career Advice