Developing your employees is essential to showing your people you’re invested in them, but also impacting your business.
Happy employees are 12% more productive.
And while your employees’ happiness isn’t entirely in your hands, you do of course, have a role to play.
From safeguarding their wellbeing, to impacting their daily lives, you can play a pivotal role in the lives of your employees.
Developing your employees is one way to impact their wellbeing.
After all, feeling invested in will have positive ramifications throughout your business.
Keep reading to learn:
- Why it is important to invest in your employees
- 15 easy ways to develop your employees
Let’s get started.
Why is it important to invest in your employees development?
Hopefully developing your employees doesn’t need justification.
As a good employee, you should want to invest in your teams. Not only for your employees, but for you too.
If you need reasons why investing in your employees is so important, here are nine:
Increased employee retention
Investing in employee development helps reduce turnover rates.
Employees are more likely to stay with an organisation that supports their growth and career advancement.
According to LinkedIn’s Workplace Learning Report, 94% of employees would stay at a company longer if it invested in their career development.
Enhanced productivity
Training and development programs improve employees’ skills and knowledge, leading to higher productivity.
A Gallup study found that highly engaged teams show 21% greater profitability.
Continuous learning ensures employees stay current with industry trends and best practices, enhancing their performance.
Improved employee engagement
Development opportunities increase employee engagement.
Engaged employees are more committed to their work and the organisation’s goals.
Gallup reports that engaged employees are 17% more productive and have 41% lower absenteeism.
Attracting top talent
Offering robust development programs makes an organization more attractive to top talent.
Job seekers prioritize companies that provide opportunities for growth.
A survey by Glassdoor revealed that 76% of employees and job seekers consider professional development opportunities one of the most important aspects of company culture.
Building a competitive advantage
Skilled employees give organizations a competitive edge.
Continuous learning and development ensure that the workforce is capable of innovating and adapting to market changes. Companies with strong learning cultures have a 92% chance of innovating.
Boosting employee morale
Employees who feel valued and supported are more satisfied and motivated.
High morale leads to a positive work environment and better team dynamics.
According to a study by SHRM, companies that invest in employee development report a 37% increase in employee satisfaction.
Adaptability to change
Development programs enhance employees’ ability to adapt to changes, whether technological advancements or shifts in the market.
This adaptability is crucial for organisational resilience.
A Deloitte survey found that 90% of CEOs believe their company faces disruptive change, highlighting the need for an adaptable workforce.
Cost savings
While there is an initial investment in employee development, the long-term savings from reduced turnover, increased productivity, and improved performance outweigh the costs.
Companies that invest in training can see a 24% higher profit margin.
Compliance and risk management
Regular training ensures employees are aware of industry regulations and company policies, reducing the risk of legal issues and avoiding fines for lack of compliance.
How to develop your employees: 15 easy ways
Developing employees is essential for organisational growth and employee satisfaction.
Here are 15 detailed tips, including relevant statistics to provide a comprehensive approach to employee development:
- Set clear goals
- Provide regular feedback
- Encourage continuous learning
- Implement mentoring
- Faciliatate cross-training
- Promote from within
- Provide opportunities for stretch assignments
- Support formal education
- Encourage networking
- Create individual development plans
- Offer leadership training
- Use technology for development
- Recognise and reward
- Foster a positive work environment
- Conduct regular performance reviews
Set clear goals
Establish clear, achievable goals that align with organisational objectives and employees’ personal career aspirations.
Setting goals is instrumental in developing employees as it provides clear direction and a sense of purpose, which enhances focus and productivity.
Goals serve as benchmarks for measuring progress, allowing employees to understand their strengths and identify areas for improvement.
This continuous feedback loop fosters skill development and strategic thinking, as employees are motivated to learn and innovate to meet their objectives.
Additionally, goal-setting promotes accountability and ownership, as employees are responsible for achieving their targets, leading to increased engagement and commitment.
By aligning individual goals with organisational objectives, employees see the direct impact of their work on the company’s success, which boosts morale and encourages career growth and development.
Related: How a Totara LMS can help you achieve your goals
Provide regular feedback
Offer constructive feedback regularly.
Feedback is crucial for employee development as it provides timely insights into performance, highlighting both strengths and areas needing improvement.
Constructive feedback helps employees understand how their actions align with organisational goals and what specific adjustments can enhance their effectiveness.
This continuous input fosters a culture of learning and growth, motivating employees to refine their skills and competencies.
Feedback also encourages open communication and trust between employees and managers, creating a supportive environment where employees feel valued and are more likely to engage and invest in their professional development.
By offering regular, constructive feedback, organizations can drive performance improvements and foster a resilient, skilled workforce.
💡 Pro Tip
Understanding feedback and its role in employee development is essential. And with an LMS, you can simplify the collection and collation of feedback. With it, you can improve the feedback cycle.
How to gather and share feedback in an LMS
Encourage continuous learning
Promote a culture of continuous learning by providing access to online courses, workshops, and seminars.
Continuous learning plays a pivotal role in developing employees by ensuring they remain adaptable and up-to-date with the latest industry trends and technological advancements.
This ongoing education empowers employees to enhance their skills, broaden their knowledge base, and stay competitive in a rapidly evolving market.
It fosters a culture of innovation and curiosity, encouraging employees to seek out new information and apply fresh ideas to their work.
Continuous learning also boosts employee engagement and satisfaction, as individuals feel more competent and confident in their roles.
Implement a mentorship program
Pair employees with mentors who can provide guidance, share experiences, and offer support in navigating their career paths.
This relationship fosters professional growth, as mentors help mentees navigate career challenges, set and achieve goals, and develop essential skills.
In fact, 70% of employees believe their performance would improve if they had access to a mentor.
Mentoring enhances employees’ confidence, accelerates their learning curve, and promotes a deeper understanding of organisational culture and expectations.
Related: Why giving feedback in learning is important
Facilitate cross-training
Cross-training positively impacts employee development by broadening employees’ skill sets and enhancing their understanding of different roles within the organisation.
This enhances their skills and increases organisational flexibility.
Not only that, cross-training can improve employee engagement by 10% and productivity by 40%.
Cross-training prepares employees for career advancement by equipping them with a diverse range of skills and experiences, ultimately leading to higher job satisfaction, increased engagement, and a more resilient, capable workforce.
Promote from within
Show employees that there are opportunities for advancement within the company.
This motivates them to develop their skills and stay committed. Companies that promote from within have a 41% lower turnover rate.
We all know the impact that a better retention rate can have on finances.
Related: Employee retention statistics you will want to know
Provide opportunities for stretch assignments
Assign challenging projects that push employees out of their comfort zones and help them develop new skills.
These assignments build confidence and capability.
Employees who engage in stretch assignments are 3 times more likely to report they are confident in their skills.
Support formal education
Offer tuition reimbursement or sponsorship for formal education programs. Organisations offering education benefits see a 10% increase in employee retention rates.
This initiative provides employees with opportunities to gain advanced knowledge and specialised skills that are directly applicable to their roles.
This investment in education enhances employees’ expertise, boosts their confidence, and prepares them for higher responsibilities and leadership positions.
By sponsoring degree programs, certifications, and other educational pursuits, organisations demonstrate their commitment to employee growth, which can improve job satisfaction and loyalty.
Encourage networking
Facilitate opportunities for employees to network within and outside the organisation.
Networking can provide new perspectives, knowledge, and professional relationships.
You can start within your own company.
Build a place for teams to get social.
One great way is your LMS.
Using a tool like Totara Engage, you can build forums, workspaces and channels for users to share learning, engage in conversations and swap insights.
Related: Learn more about Totara Engage
Create individual development plans
Work with employees to create personalised development plans that outline their career goals and the steps needed to achieve them.
First off, you need to build a learning needs analysis. This will help you understand what skills are missing so you can create the right training content.
Doing this on an individual basis takes a lot of work, but it’s worth it.
According to SHRM, individual development plans can lead to a 30% improvement in employee performance.
Offer leadership training
Provide leadership training programs to develop potential future leaders.
This prepares employees for higher responsibilities.
Leadership training supports employee development by equipping future leaders with the essential skills and knowledge needed to effectively guide teams and drive organisational success.
This training focuses on critical areas such as communication, decision-making, conflict resolution, and strategic thinking, enabling employees to manage challenges confidently and inspire their colleagues.
By fostering these competencies, leadership training prepares employees for advanced roles, promotes a culture of continuous improvement, and ensures a robust pipeline of capable leaders ready to take on higher responsibilities.
Use technology for development
Utilise learning management systems (LMS) and other technology tools to provide accessible, flexible learning opportunities.
In fact, companies with comprehensive training programs have a 24% higher profit margin.
Centralising your learning content and providing one central hub could help your employees access new learning opportunities they never knew existed.
From developing soft skills to learning new skills on the job, an LMS can allow you to streamline your learning processes for better learning outcomes.
💡 Pro Tip
In case you hadn’t guessed, we can build you a learning system. As premium partners of Totara, we are the architects of learning solutions and can create custom solutions to suit your needs.
How a Totara LMS can help you achieve your goals
Recognise and reward growth
Acknowledge and reward employees’ efforts and achievements in their personal development through formal recognition programs, promotions, or bonuses.
Recognition programs can lead to a 31% reduction in voluntary turnover.
Foster a positive work environment
Create a supportive and collaborative work environment that encourages employees to take initiative and share their ideas.
A positive work environment significantly impacts employee development by creating a supportive and motivating atmosphere where employees feel valued, respected, and engaged.
Here, employees are more likely to take initiative, collaborate with colleagues, and pursue opportunities for growth and improvement.
The sense of psychological safety allows employees to share ideas freely, take risks, and learn from their mistakes without fear of retribution.
This also often includes access to resources such as training programs, mentorship, and constructive feedback, all of which contribute to personal and professional development.
Conduct regular performance reviews
Hold regular performance reviews to discuss progress, set new goals, and identify opportunities for further development.
Effective performance reviews can lead to a 15% increase in employee engagement.
By implementing these detailed tips, organisations can foster a more skilled, motivated, and loyal workforce, driving both organisational success and employee satisfaction.
Wrapping up
In conclusion, investing in employee development is not just beneficial but essential for any organisation striving for long-term success.
By setting clear goals, providing regular feedback, encouraging continuous learning, and fostering a positive work environment, you can nurture a skilled, motivated, and adaptable workforce.
By prioritising employee development, you can build a strong foundation for sustained growth and achievement.
Want to learn more about what we do?
Book a demo to see our learning platform in action and how our Edition can help you develop your employees through shared spaces, better learning experiences and a user-centric approach.