A great employee is no longer held on by a generous salary (even in a cost of living crisis)! We spend a third of our lives at work and the days when money was enough to confirm a new employee’s signature are over. Today’s workers are proactively striving for more than that – they want to be fulfilled at work in order to achieve job satisfaction and self-actualization. That’s why investing in employee development is key to retaining your top talent. If you don’t, your business will suffer.
Examples of investments:
Day one: There are many ways to invest in your people from day one. Research shows that a successful first day and onboarding period makes your employees feel valued right from the start. As a result, they are more likely to develop an emotional bond with the company and are therefore less likely to leave the company. Additionally, showing your care on that first day can take the form of small acts of kindness, such as: B. by a manager inviting them for breakfast or a coffee as a welcome, a buddy passing on questions and ideas, or a care package on the desk as a welcome (Could consist of all relevant documents, a coffee cup, a café voucher, pins, etc.).
key training:
As well as a warm welcome, a comprehensive training program as part of their onboarding also shows that you want them to succeed and gives them the tools to grow from the start. Successful training often consists of both an introduction to the company (e.g. an overview of the values, culture, policies, benefits, meeting, etc.) and a role-specific introduction. It also pays to educate employees about performance management and development plans. You can even go one step further with a welcome breakfast on day one!
Continuous learning and development:
This is probably the BEST investment you will ever make! Invest in your people and your people will invest in you. Having learning and development plans for every employee is becoming the new normal, and there are now entire departments dedicated to helping make this happen. Examples include skills training, courses (e.g. CIPD qualifications) and peer training.
Performance management:
Link this even better to your learning and development team and make sure that the employee contributes to their own career path in your company! A performance management meeting should be a two-way process of discussing feedback and career development that aligns with the company vision.
Benefits of employee development for the company
- Creates a reputation as a company people want to work for.
- Attract the best talent for your company.
- Retain top talent by challenging employees and providing them with opportunities to develop and upskill.
- Recruitment costs are significantly reduced due to lower fluctuation.
- Companies in which employees feel valued have less absenteeism and presenteeism.
- Increased productivity and profits.
Benefits of employee development for the employee
- The motivation is higher.
- Commitment increases!
- Employees feel valued.
- Generation Z wants to develop further and is actively looking for this when looking for an attractive employer.
- Enables the creation of a career path within an organization and provides stability and belonging.
- It seems clear that the desire for further development remains. Research shows that this is a win-win for both the employee and the employer and that creating a culture of engaged, successful and motivated employees is worth both the ROI and the effort!
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