Employees are investments, not expenses. The benefits of investing in employee development are company-wide when considered wisely. While it’s easy to let employee development slide amidst the day-to-day pressures of managing a business, many companies are now choosing to make employee development part of their budget.
So why has leadership moved forward with investing in employee development? Here are the reasons to consider:
Developing talent internally promotes team alignment.
One of the most essential influencers of any employee’s decision to join an organization is the company core value to invest in employees in combination with high-quality internal coaching. Continuously developing an employee’s company expertise, along with the strategic knowledge gained from additional learning will contribute to the growing talents of the team.
Consider implementing a monthly peer-facilitated discussion on new knowledge employees have gained that align with present company challenges.
Individual ownership first, leadership second.
Leadership that is well integrated at an individual level becomes strong ownership of an organization’s objectives. As a member of a team, employees that hold full ownership of any strategies and/or work processes that can be further improved, are the ones worth company investment.
For example, when considering the current performance management process in place, are the team’s needs being met? Does the company need a clearer product roadmap? These are all pertinent details that employees can capture through additional development beyond the scope of the workplace.
Through additional development, employees can brainstorm the next step to addressing the above issues. Partaking in development programs will provide opportunities for employees to gain cross-industry insights from other professionals and better facilitate improvements and changes in their work.
Decision making is the best on-the-job education.
Great advice comes from those who not only have a great understanding of the situation but also care about the outcome. Pursuing further education and learning concurrent to growing responsibilities in a company allows for a stronger understanding of strategic issues the company faces in relation to the employee’s team.
This real-time education will also shed light on objective prioritization and leadership development in order to identify more critical business opportunities. For this reason, there is no other form of education or training more valuable than aligning newly developed abilities in real-time.
Growing with the company through achieving professional goals.
While different employees are at various stages of their careers, there is no such thing as “starting too early”. The knowledge and practice gained through employee development will be invaluable as individuals develop and grow with the company.
Interactive development of leadership, professional skills and personal interests creates a stronger overall understanding of the business so as to make strategic decisions. As leader of an organization, it is important to keep in mind the potential increased financial results that could be well beyond the costs of employee development.
Opportunities open doors, we make the choice to enter.
When choosing whether or not to invest in the learning of employees, consider perseverance and level of proactive learning. Pursuing ongoing personal goals is a great indicator of success and commitment to learning. Those that are willing to seek opportunities on their own are often well aligned with reaching the objectives of their respective organizations.
For management of a business, considering and planning for employee development involves thinking ahead. Like in any industry, development strategies that were effective last quarter, are not necessarily going to be effective in the next—the same goes for training employees. The culture of your company may be shifting to match both the needs of customers and that of competitors. The employees that you choose to invest in should give a clear indication of the future your company is driving towards.
While sticking to one plan may not be the best idea in changing industry dynamics, thinking ahead of the curve is now a means of survival in an economy of growing talents and tough competition.