Employers often see employee development through the lens of making their workforce more resilient or able to take on additional work. However, investing in employees isn’t a one-way street. When people are given the opportunity to develop their skills, it gives them a greater sense of ownership over their future and high job satisfaction.
Importantly, when a company doesn’t develop it employees, they are more likely to look for career development opportunities at other companies. In a Pew Research survey from 2021, 63 percent of respondents said they left their last company because of a lack of career development opportunities. This was the top reason given by survey respondents, and it ranked above pay rate, employee benefits and workplace flexibility.
Clearly, there is much more to employee growth than just workforce development.
Benefits for Companies and Workers Alike
Because employee growth requires an investment, it’s understandable that a company would want to know what it will get in return. There are many tangible ways that an employer get a return on their investment. These include:
- greater workforce resilience
- ability to stay current with new methods and technologies
- lower hiring costs
- higher employee retention
- stronger branding as a great place to work
Not investing in employees could potentially result in negative impacts in the areas listed above. Simply preventing a drop off in employee retention and workforce resiliency should be more than enough reason for companies to invest in their employees.
Employees also benefit from development programs. These benefits are less tangible but highly valuable, and they include:
- higher employee engagement
- better performance reviews
- more opportunities for advancement within the company
- more opportunities for overall career advancement
Sadly, companies that offer development and opportunities to their employees are less common than those that do not. Most employees recognize this, and it’s why they often leave a company where they might otherwise be happy to stay.
Employee Training vs. Employee Development
When it comes to investing in employees, training and employee development are often considered the same. However, they are somewhat different.
Employee training is job-specific. With the exception of compulsory safety training, employee training helps people do their jobs better or maintain their level of performance. This kind of investment is best received by experienced employees who want to stay current or grow their skills.
Employee development is focused on achieving more than just filling in skills gaps. This type of employee investment puts workers on a development journey that lasts many years. This kind of investment particularly speaks to younger employees who have their whole careers ahead of them.
Both types of Investment show employees that development is a two-way street that includes all kinds of benefits for everyone involved.
We Can Help You Build the Workforce You Need
At American StaffCorp, we help Oklahoma and Missouri companies build the workforce they need with custom staffing solutions and direct hire services. Please contact us today to discuss how we can support your company’s success.
