Attract and Retain Top Talent by Investing in Employee Development

Attract and Retain Top Talent by Investing in Employee Development

June 17, 2017

 

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.  

 

  • It is a given that employees who are working for a long time at a firm will always know the internal business and ethics of that firm well as compared to a newly hired person. The top leadership of any company would want to promote their employees rather than hiring someone from outside. This is more so because –

 

  • 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.

 

  • Employee investment also helps build a great workplace culture and ethics. Not only will more people that are capable would want to join the firm, it is also helps spread a good word. This in turn will attract more customers and help in increasing business as well.

 

  • The above factors also help in boosting efficiency and productivity. They also help raise the benchmarks, which in turn provide better quality of work. Employee engagement in various tasks in a company also helps in saving a lot of money.

 

  • 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