Posted by Robert Half on Tuesday, April 14, 2015 - 06:00 | Follow me
Funding for employee professional development and training are often the first things to go when budgets get cut, but this practice is often costly and counterproductive. Here's why.
- Offering professional development — programs that allow employees to function better interpersonally and prepare them for future roles — helps managers attract top job candidates, retain their best workers and identify future leaders, and boosts the bottom line.
- Training — activities a company offers employees to help them become more proficient at the tasks that are part of their jobs — is equally indispensable.
Investing in each of your workers is beneficial to the whole organization. Here are six rewards you can realize by supporting professional development and training initiatives at your company.
1. Increase the collective knowledge of your team
Encouraging your employees to train in pertinent subjects and applications — an advanced course in a software program they use daily, for example — can have an immediate effect on productivity. Professional development can also help raise overall staff expertise when employees have vastly different backgrounds.
2. Boost employees’ job satisfaction
When staff members can do their jobs effectively, they grow more confident, which leads to greater job satisfaction and improved employee retention. You might consider offering them professional development opportunities such as mentorships, job shadowing and cross training, so they become more prominent (and versatile) players in the organization.
3. Make your company more appealing
When you offer professional development opportunities, you’re building a positive reputation as an employer that cares about its workforce and strives to employ only the best. Your clients will benefit, too, from the high level of efficient, tech-savvy service delivery they receive. Keep in mind that your employees are your brand ambassadors. When they attend conferences and seminars, they represent and reflect all that’s good about your organization.
4. Attract in-demand candidates
Do you want to attract the cream of the crop when you advertise a job opening? Most prospective employees understand, too, that professional certifications can net them higher salaries, raises and promotions. If applicants know there’s the potential to raise their skill level and compensation at your company, you're more likely to attract top candidates.
5. Beef up your retention strategy
Your workers want to feel like they’re making a difference and growing. If your team members don’t feel challenged, or they sense stagnation in their careers, they'll look for advancement opportunities elsewhere. Lifelong learning exposes your workers to new experiences and keeps them engaged in their work. When you’re able to build this kind of enthusiasm among your staff, you engender loyalty.
6. Make succession planning easier
Leadership development and mentorship programs are tools for grooming future leaders for your organization. If you’d like to be able to promote staff to managerial positions in the future, targeted training now can help you ensure your current workforce is prepared to move up.
More articles on professional development and training benefits
- Wait, Don't Go! Why You Really Should Offer Employee Incentives and Bonuses
- Small Business Training and Development Options
- Boost Innovation in the Workplace with These 5 Tips
- Professional Development for Creatives: 3 Ways to Grow Your Team's Skills