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Why Employee Development is Key to Your Business

If you’re a business leader, you know that employee development is vital to your success. Even though it’s so important, many leaders incorrectly assume that individuals should take control of their own learning, rather than providing them the right opportunities to grow. They believe that it’s the employee’s responsibility to invest in their own development.

What they should consider, though, is that by training employees, they’re investing in their business’s future. You’ll find that your employees are more engaged and your turnover rate will be dramatically less. Put simply, if you invest in your employees, they’ll return the favour.

Invest in your employees professional and personal development

It’s not often that an employee who is struggling in their personal life succeeds in their professional life, too. If your employees feel disconnected from the workforce, it’s likely they won’t want to succeed.

It’s a common misconception that it’s a waste of resources to train employees when they’re only going to leave the company anyway. But this can do harm to the company, as their employees will feel undervalued and uncared for.

If you invest in training, your employees will feel valued, and will be more likely to stay around. This can only lead to bigger and better things for your company.

Invest in an Individual Development plan for each employee. The IDP will help your employees to set short- and long-term goals and to create strategies. It includes answers to the following dot points:

  • What work goals do you want to achieve in the coming year?
  • How will you and the company benefit if you achieve them?
  • What knowledge, abilities and skills do you need to acquire?
  • What resources should the company make available to you?

Check in on the IDP on a monthly basis and help your employees achieve their goals.

Also consider funding your employees’ training by paying for conferences, books and courses to aid their growth, both professionally and personally.

Host team building sessions so your employees feel comfortable

Good relationships aren’t forced – they’re organic. If you want to foster a great culture among your employees, organise some fun activities that help them build friendships. You could even go as far as organising one or two days per year when you travel off-site, with the sole purpose of having some fun. Their time at work will be a whole lot easier when they gel with their workmates.

Incentivise extra work

No matter how big or small your company is, there is always the need for jobs to be completed efficiently. To inspire and reward employees for working harder, provide them incentives such as a bonus, commission or otherwise. This will make them take ownership of their work and go extra hard for the rewards at the end.

Recognise achievements

There’s nothing that motivates people more than having their achievements recognised before the group.

Set up a weekly or monthly event to recognise company-wide achievements. Announce the top performers and introduce healthy rivalry into the workplace – it will go a long way.

Tailor the rewards to the employee

People are a diverse species. No one perk is guaranteed to please all employees equally. This means that it’s important to work out which incentives will suit which employees and apply them gratuitously. If an employee has young children, reward them with a childcare subsidy. Or, if you expect employees to devote a lot of time to their work, provide them with free lunch.

It’s not only great for the employees themselves, but your company will benefit from a happy, thriving workforce. It’s all about thinking critically about what works best for your team.

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