CEOs pour their time, heart and talent into building a successful business, making sure every detail is covered. They are also well aware of their greatest assets – their employees. They understand a key part of employee retention is providing continued training opportunities. LinkedIn’s 2018 Workforce Learning Report states 93% of employees stay at a company longer when they feel they are valued and management invests in their career.
In today’s highly competitive job market, advanced professional development is no longer a perk but an expected standard. Good management is concerned about the welfare of their employees and wants staff members to not only feel satisfied but to thrive.
Whether you own your company, are a longtime supervisor or just landed your first management gig, the importance of professional development cannot be overemphasized. The following are a few benefits of a strong program.
It Creates a Culture of Learners
Business does not stand still. Leaders in a busy workplace will continuously find opportunities to grow their business, which means employees must keep up. Without proper training, new and advanced skills can become challenging. A simple course can alleviate frustration and empower employees.
It Strengthens Bonds
Working together as a team builds relationships and deepens ties. When a group learns something together, they can also hold each other accountable in a positive, non-judgmental manner.
It Empowers Employees
An employee who goes through the workday robotically will soon become bored, and their mundane feelings will breed resentment. Believing your job is limited is the first step to the next job at another company. I was recently at a workplace where the front line could make no decisions without asking first for permission. Instead of having the authority to fix a problem, they continued to say “Let me ask,”or “It’s not our policy,”or “Sorry, I can’t do that.” You could see the feeling of powerlessness on their face. A team cannot be truly effective without the support and trust of upper management. Offering an employee the skills they need and then encouraging them to utilize those skills in a day-to-day work environment will breed confidence.
It Boosts Retention
The cost of losing and retraining employees is high, as much as 2.5 times an employee’s salary depending on the role. Not to mention “soft costs,” which are decreased engagement, lowered productivity and cultural impact. According to the Society for Human Resource Management, higher employee morale and improved quality of work are both organizational benefits. Research from the Consumer Technology Association found high skills training (80%) and professional development programs to hone soft skills (74%) are perceived among the top benefits for retaining employees’ services over the next five years.
It Creates a “Gift Culture”
A recent Harvard Business Review article emphasizes the importance of a mentoring and coaching culture. While both types of professional development are essential, the latter is more likely to increase collaborative behavior, which is critical in an effective work environment.
It Aids in ROI
When an employee feels appreciated, they are more likely to give the company their best. They show up to work on time, take control of their projects and show pride in the end result. They call in sick less and reduce the overall stress level at the office. Professional development training is important at all levels, from new recruits to human resource managers and upper-level directors.
You may also like The Benefits of Taking Time Off. For more of Diane’s etiquette tips, “like” The Protocol School of Texas on Facebook, and follow Diane on Pinterest, Instagram and Twitter. Buy her new book, Modern Etiquette for a Better Life.
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