One of the leading reasons why top talent is always on the move looking for a brighter future elsewhere is because they feel they are not getting what they need at their current place of employment. While that may seem like a very broad statement, it boils down to an across the board lack of employee development. They are not getting what they need because quite frankly, they don’t know what it is they need! A lack of employee development has left them with the inability to envision a future within that company.
Being trained for a job is insufficient on a number of levels when employee development should be an ongoing effort that results in satisfied employees willing to be a vital part of the company’s growth. Consider for a moment a company like Cisco that has reached global proportions. How do you think they grew to that size? One of ways they foster growth from within and with distributors they deal with is through extensive development programs. It is widely known in the industry that a knowledgeable and customer centered Cisco distributor will work to help their clients develop and grow as well.
It’s an attitude that permeates the very core of Cisco and one that resounds through each and every one of their distributors. Learning from their business model for employee development, it is possible to extrapolate the following five reasons why employee development is so important. These reasons indicate how employee development benefits both a company and the individual who are a vital part of the company’s growth but on a very personal level.
1. Increased Productivity
Employee development is worlds above on-the-job training. Employee development helps that person to find value in themselves and what they have to offer. The simple fact is that when people feel good about themselves it is reflected in the way they perform. Despair and lack of faith in one’s abilities is the greatest obstacle to productivity and this could be avoided with ongoing employee development geared towards encouraging that person to be all that they can be in every area of his or her life.
2. Incentive for Personal Growth
When an employee sees that the company takes an interest in him/her as an individual, as a person, they are often incentivized to reach for bigger and better things. Instead of being good at something they want to be great at it. A little recognition from above may be all it takes to spur that person onto continuing education that helps them grow as a person.
3. Incentive for Growth within the Company
By taking an active interest in the development of your employees, you give them incentive for growth within the company. Like a child seeking the approval of a parent, an employee will go out of his or her way to seek the approval of management. Employee development empowers employees to be better at the jobs they do which leads them to stride for bigger and better things – from a trusted employee to a team leader to a departmental manager and one-day corporate vice president. Employee development helps them strive to climb the corporate ladder.
4. Builds Employee Loyalty
Encouraging growth within the company fosters loyalty within your employees. If an employee feels there is room to continue growing and develops appreciation for the company that is fostering their growth, they have little reason to look elsewhere. Whether it is more responsibility they are looking for or something as basic as higher pay, giving them an understanding of and the tools for further development is the key to employee loyalty.
5. Promotes Three-fold Appreciation
Providing ongoing employee development often leads to a greater appreciation for the company they work for, the management they answer to and the team they work with. This three-fold appreciation makes them feel a part of something bigger than they are as an individual. Just as it is important to feel loved and needed within the family or the community, so too is it imperative that your employees feel a part of the company. As a part of the functioning whole they become immersed in the success of the company which happens by working together as a cohesive whole with management and their team.
The true path to success for any business is to realize that success is built on the efforts of the team. Don’t lose top talent to the competition because you didn’t empower them to be all that they can be and to grow as high as they can reach. Employee development is the key that has been hanging on the hook too long. Take it down and unlock the door that leads to your company’s future.