Benefits of offering development programs to employees
How businesses can benefit from providing training
Offering development plans and training opportunities to employees will offer many benefits to a company, some more obvious than others.
Keeping up with business growth
Your business develops and grows over time and your products and services advance as well, so your employees should advance too.
The first business need met through training is to keep your staff up to date with the latest requirements in their role and within your organisation to remain effective.
If your staff cannot keep up with the ever-changing market and business environment your organisation may struggle to innovate, grow and remain competitive.
Improving your employment brand
Offering development is seen as a great advantage by many job seekers, and can often be used as a selling point during the recruitment process.
Businesses with a great track record of advancing employees and who are known for offering training and development opportunities to their staff will likely have a much higher success rate in regards to their recruitment processes.
Development opportunities are benefits businesses can use to set themselves apart from their competition when employing new staff, due to the positive effect these benefits will have on the businesses’ employment brand.
Powerful leadership
Lastly, developing staff members that are already active in your company into leadership roles can be much more cost effective than going out and recruit experienced managers from other organisations. Due to the lack of experience in leadership salary expectations are often lower, and costs of training will be significantly less too.
Managers who were hired from internal positions already know the company inside out. They don’t require a full induction process and have often already experienced a significant amount of the tasks they are expected to pick up within their new role.
Managers who are recruited from outside the business will take a significant time learning and understanding your business before they can become effective, which can have a serious negative knock-on effect on the productivity of the team they manage.
An employee developing and growing within a company for a longer period of time is much less likely to leave than a person recently recruited.
The price of recruitment for top level managers can be high, and making the wrong decision in an interview process can easily happen too many, costing the company a pretty penny.
How staff can benefit from training
The benefits of training and development programs are not just felt by the business, but also by the employees receiving the training.
Development opportunities are employee benefits
Most employees and jobseekers will see development opportunities as a great benefit to working for a certain company, as many wish to achieve growth within their career and personal life.
Through training employees are given the tools and skills to improve their own output, often advancing their proficiencies as a result of going through the development program.
Seeing positive outcomes of their labour, reaching targets with more ease and feeling less stressed when working on tasks they were initially struggling with will help the employee feel more comfortable and content within their role. As a result, the satisfied employee can be significantly more productive and will also be more likely to stay employed in the business, effectively reducing the turnover rates and costs of recruitment.
Offering progression
Without any hope of opportunities to progress, employees can feel like they are stuck in a dead-end job.
By allowing progression opportunities and leadership development an employee doesn’t need to leave your business if they want to advance their careers and show ambition.
In summary, creating opportunities creates a motivation to succeed, positively influencing factors such as productivity, attention to detail, working relations amongst staff and the quality of work.
