The world is changing at a rapid pace and as a company you need to keep up. You need to ensure that your employees continuously develop.
Prioritizing employee development ensures that team members’ skills continue to be strengthened in accordance with industry trends and best practices.
You must ensure that your employees are attractive to other companies. If companies invested in staff development, 94 percent of employees would stay longer, according to Clear Company. How do you work with your employee development today?
Developing does not only mean optimizing an individual’s skills for a particular role. It is about continuous learning that helps them take steps forward on their individual career paths. We believe that the employee needs to own their development, but that it is to the employer’s advantage to encourage further training by providing or facilitating both internal and external opportunities for learning.
Loyalty – get employees to stay longer
Nobody wants a dead end, a job at a company that does not value its employees. A record number of employees are currently leaving their jobs in search of better employers who provide opportunities for career development.
Another reason why employees quit their jobs is due to a lack of opportunities for a balance between work and leisure.
In an autumn report from Monster 2021, 45 percent of the employees surveyed said that they would be more likely to stay in their current jobs if they were offered more training. Develop your employees’ skills and they will reward you with improved performance and higher loyalty.
Employee development is a long-term investment that can help retain your talents. With 45 percent of Swedes considering looking for a new job in the next 12 months, according to Microsoft’s survey from August 2021, it is more important than ever to allocate resources to retain employees.
Better results – increase productivity
A US survey by ClearCompany shows that 74 percent of employees believe that lack of development prevents them from reaching their full potential. Only 29 percent of the organizations in the survey had clear development plans, which meant that many employees felt undervalued and underdeveloped. This will inevitably lead to a less committed workforce and higher turnover.
Investing in employee development makes your employees feel good and perform better. Development opportunities
improves productivity. As simple as that. Allowing employees to build up their skills and knowledge increases their self-confidence, which makes them perform their work more efficiently and productively.
Employee development is an attractive employee benefit. If you do not start investing in your team and developing your employees, they will find another employer that offers it. The competition to find new staff is tough in many professions and it is important to show that you have a plan and a commitment to the employees.Companies that invest in employee development are more profitable
Training and development plans not only increase productivity, employee development also increases profitability. When companies offer clear development programs, they have a 24 percent higher profit margin and 218 percent higher income per employee than companies without development programs, according to Forbes.
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