Why invest in employee training and professional development…
‘CFO asks the CEO “what happens if we invest in developing our people and then they leave us?”
CEO responds, “What happens if we don’t and they stay?’
This quote raises an interesting quandary that many businesses face. To invest money and time into developing employees can be a big decision, if you do it for one then surely the same should be available to all staff who’d like to participate? If that is the case then it’s sure to be a high cost with no real gain? Right?
So why bother investing in staff training? here are a few high-level reasons as to why;
- Lower staff turnover
- Improve the business offering
- Higher engagement
- Beat the competition
- Improve your bottom line
If you don’t invest in your employees then they or could leave or even worse, they could stay, unmotivated and unengaged in your organisation.
We hear a lot about a skills shortage in the UK, with this in mind it is very much a candidate market when it comes to recruitment. There’s a lot that can be done to push your employer branding out there but there is no better substitute than positive feedback from your existing employees.
Research shows that engaged employees are more productive, adding value to your business but they are also happy to share company news and events through their social media networks, which compliments the messaging put out from the company itself.
Be well known for the right reasons
You can offer great salaries and benefit packages, however, not all organisations can compete on the remuneration so having a strong professional development offering is a key element that quality candidates will consider when making their decision to join your organisation.
‘Grow your own’
If you are struggling to find the right people with a specific skill set, you’re not alone! Consider finding the right people with the right attitude and then teach them the rest. Identify a suitable training provider and work with them to develop a learning programme that will deliver the specific skills you need in your organisation. Apprenticeships and graduate programmes work well.
The new employee induction programme should be well organised and structured to enable your new recruit to understand the internal workings of your company. Enable the employee to spend time in other departments and encourage cross-departmental communication going forward.
Ensure enough time is available for the new employee to spend with those who will be able to give guidance and assistance to enable them to get up to speed as quickly as possible.
Company sponsored training/professional development
Many companies do offer sponsored training as part of their employee offering. This can be in different forms. One example would be where an employee in marketing wanted to develop their skills and gain industry qualifications. An employer could offer to cover the cost of the qualification and also allow a period of study days to allow for exams etc. This would be covered with a sponsored training agreement which details how much should be repaid by the employee should they leave within the time period specified. Organisation might also consider covering professional membership fees for their employees.
Encourage your employees to attend your industry events, e.g. seminars, expos, networking events, webinars etc. there are many that are free to go to/attend. Employees really appreciate being able to get out and have a change of scenery as well the benefits to your organisation; expanding the company’s reach, demonstrating company culture, new knowledge and skills.
So you have successfully built your business and it continues to grow and do well. Do you want to take a step back but are worried about who could step up and manage the day to day activities of your business?
There are so many management and leadership training programmes out there so it could be a minefield to find something suitable at a cost that will be acceptable to you. Also be careful not to choose a programme that will be time heavy and onerous on your employee and which could have a knock on effect on your organisation.
Tick HR offers HR consultancy services and support in bespoke ways that will suit your organisation. Working with our strategic delivery partners, Get the Edge UK, we offer a range of training:
- Bite Size course covering a whole variety of business activities
- Senior Leaders retreat
- Emerging Leaders programme
- Fast track to management
- Sales team development
- Inspiration team days
- Personality profiling
- People’s needs analysis
If you are interested in employee development or any of the programmes above, get in touch today firstname.lastname@example.org 07745 535 635