A Powerful Investment
The benefits of employee development
How many times have you come across an inspirational quote telling you to be the best that you can be? We are often encouraged to engage in personal development and to continually work on improving ourselves.
But how do we feel about investing in the development of others?
If you manage or lead a team of people at work, you may be familiar with the ever-growing emphasis on life-long learning. However, it can be easy to wonder whether employee development is worth the time, effort and resources. As long as they know how to do their job, surely that’s enough?
Well, according to research, learning and development, particularly regarding soft skills, is seen as a necessity within a company*.
But why is this the case?
Here are just 3 benefits of investing in the development of your employees:
1) Retain your talent – Research suggests that employees are more likely to stay in a role if their employer invests in their development*. By offering learning and development opportunities, you are improving your employee’s ability to do their job whilst also increasing their levels of engagement and their likelihood of remaining within the company**. A lower turnover will ultimately save you the hiring costs associated with having to continually find new employees.
2) Prepare future leaders – It is always important to keep the future of your organisation in mind. If you see leadership potential in an employee, you should invest in developing their skills early on. Companies that value leadership development are better at placing the right people in the right roles and are able to successfully strengthen their employees’ leadership skills***. Investing in people at the start of their career is also likely to create a sense of loyalty towards the company**.
3) Improve wellbeing - The consequences of stress related issues, such as burnout, are a great concern for many organisations. However, developing employees’ responses to challenging situations could help improve workplace wellbeing. For example, research has shown that developing your emotional intelligence can help to protect you against the negative effects of stress****. Focusing on resilience, change and team relationships may also contribute to improved levels of employee wellbeing.
If you want to protect your assets, start by focusing on the development of your employees. It is an investment that guarantees a return.
*Linkedin Learning. (2018). Workplace learning report: The rise and responsibility of talent development in the new labor market. Retrieved from: https://learning.linkedin.com/content/dam/me/learning/en-us/pdfs/linkedin-learning-workplace-learning-report-2018.pdf
**McKay, M. (n.d.). Top 5 trends in talent development to cultivate a learning environment. Talent Assessment Blog. Retrieved from: https://mhs.com/top-5-trends-in-talent-development-to-cultivate-a-learning-environment/
***Center for Creative Leadership. (2016). Driving performance: How leadership development powers sustained success [White paper]. Retrieved from: https://www.ccl.org/wp-content/uploads/2016/05/driving-performance-white-paper-center-for-creative-leadership.pdf
****Shahid, R., Stirling, J., & Adams, W. (2018). Promoting wellness and stress management in residents through emotional intelligence training. Advances in Medical Education and Practice, 9, 681-686.