A well-trained and self-assured employee is going to do better work for you. Yet some employers have a hard time viewing employee development programs as anything but a waste of time or money. However, investing in the further education of your employees actually pays off in the long run. We’ve outlined three reasons why investing in the future of your employees through continuing education and training is an important and profitable decision for your business.
It Attracts and Keeps Great Employees
In today’s job market hiring and keeping an employee is a huge challenge. In order to hire the best employees, and ones which will stay long-term, you need to develop and have in place an employee development program that applicants will view as a benefit. The right employees will want to better themselves, and so they will see your employee development program as an added benefit that similar jobs at similar pay rates may not offer. When you are enthusiastic about continuing the education of your employees, not only will you attract the best candidates, but you will increase also your employee loyalty. Trusting that an employer is willing to invest in their future and develop their skill-set will make an employee feel important, and thus make them loyal to your company.
It Keeps Employees Engaged
Continuing the education and development of your employees actually makes them more engaged while at work. The best employees will value more than just a paycheck. They will appreciate your genuine interest in their success and they will enjoy a challenge. Employees will feel valued when you invest in their future and this can only lead to a positive relationship between employer and employee.
It Creates Promotable Employees
By offering educational opportunities to your employees you will not only keep them more engaged in their current positions, but you will be creating promotable employees. Most would agree that hiring managers and higher-level employees from within is best, but not all employees are ready for such a step. Having an employee development program in place will increase the skill-set of your current employees, creating a pool of capable workers and workers ready for a promotion. Continuing education programs will also show you which of your employees have the capacity for such a promotion.
Employee development plans are not only beneficial for your employees, but they are valuable to your company as a whole. An employee development plan will force you to look at the future of your business. Your organization will gain an edge by attracting top talent, and you will save money by retaining your employees for longer.