Learning is a continuous process. It helps us increase our efficiency at every step of life. The only way one can ace a new subject is by learning about it. While learning is one of the most critical parameters of success in the corporate environment, there are numerous other factors that embolden the need to invest in employee learning. Some of them listed below:
Investing in employees also helps businesses of all sizes in employee retention. It not only improves the already skilled labor, but also helps companies save significant amounts of time and money, as they need not hire new employees for the same. This in turn also promotes a feeling of loyalty among the employees as they feel wanted for their contributions and hence would love to continue performing in the same organization.
People within the firm are well known and the leadership would know which qualities/traits in a person are more suitable for which role. This answers the most important question of what is the kind of leadership that would be required a few years down the line.
Long-term employees understand the customers and their demands well. They would know what exactly is expected out of them and would be at ease dealing with customers.
Another important factor this point covers is that a firm investing in its employees will have some kind of road map as to what the company would want to achieve in the near future, which in turn reflects its long-term vision.
Another important aspect that employee investment leads to is motivation. A well trained and looked after employee will always feel motivated at workplace and will want to find better solutions to improve. An employee equipped in multiple skills such as social media marketing, digital marketing, google analytics etc. would also want to put these skills to use effectively and further prove his/her mettle. Present and potential customers will benefit from such multi skilled labor and would be more than willing to pursue current/new deals with a firm.
Employee investment is the one factor that paves the way for a successful firm. To summarise it all, below is a quote by the famous Founder of the Virgin group -
Train people well enough so they can leave,
Treat them well enough so they don't want to.
- Richard Branson