Even more important than attracting new talent is keeping the people you already have on hand. Replacing a lost employee can easily costor more. And when a team member leaves, they take with them both vital institutional knowledge and a meaningful amount of company morale. Losing great employees can have a devastating domino effect that results in even more turnover.
Emphasizing professional development sends a clear message that your company cares about its employees’ futures. Moreover, it considers those employees an important part of the company’s future as well. Continued development enables workers to see themselves in your long-term company vision and values. Loyalty grows out of this shared expectation of a mutually beneficial future—and loyal employees don’t leave.Job dissatisfaction and boredom are costing companies real money in lost.
Assisting your employees’ growth encourages them to continually reimagine themselves and their daily work. It keeps both their minds and perspectives fresh. Ask team members how they envision their positions in the future and help create the maps to get them there. Ultimately, your employees’ successes are your company’s success.Investing in employee development allows you to mold your future leadership to your company’s specific needs and values.
In today’s job market, professional development has shifted from a pleasant perk to an essential requirement. It attracts high achievers looking to reach their potential and ensures current employees feel useful, supported and valued. Whether you promote learning through training courses, mentorship programs or education reimbursement, when employees are growing and developing, your business can follow suit.
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