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Top 3 Reasons Why Every Company Should be Investing in Their Employees
Investment in your employees is something that takes you and your company a long way and is something you would never regret(of course if you are getting most other things right too). Here are the top 3 reasons that you might want to run through to re-affirm this decision of yours. Read ON!
In order for a company to be successful, it has to have employees… they’re what keeps the business afloat, right? Yes. In knowing that, it’s important for companies to invest in their training and development heavily. Did you know that when a company invests in its employees, it makes the employees feel extremely appreciated? It makes them feel like their work isn’t going unnoticed and it also lets them know that the company wants them to succeed and grow with the company, giving them more motivation to get better at their job and essentially… make them want to stay with the company.
Employee retention is one of the hardest things that a lot of companies are dealing with right now. Yes, there are certain rules for corporate success but what about the rules for success for the managers, team leaders, and department heads that work with their employees on a daily basis? What type of rules to success is laid out for them? Employees need good leaders that can take their department to the next level.
You may be surprised to know but poor management is one of the reasons that companies lose good employees. Not only that, talentsmart.com states that some of the top reasons good employees quit are because:
- There are no growth or advancement opportunities
- Employees feel unappreciated
- The job is keeping them away from their families
- Employees are being overworked
- They see other good employees quit
Out of all those reasons, feeling unappreciated is the most common reason why great employees quit. If management would take the time out to show their employees even the slightest bit of gratitude, whether it’s a simple “thank you for your hard work” or giving everyone company logo click pens, they would greatly appreciate it because it would make them feel like management notices them and that they’re not just some name on payroll.
If you want to keep your employees happy and make them want to continue to work for the company, you MUST invest in your employees… it’ll be the best thing you ever did. Here’s why.
Investing in Your Employees Will Create Promotable Employees
It’s always a good idea to hire managers and upper-level employees from within the company. Just think about it… they already know the company’s values and standards plus they’re familiar with the daily processes of the company. By creating a development program for employees that are hungry for success, it will allow management to see strengths and weaknesses in employees and it will also allow management to see which employees will be able to take on the responsibilities that come along with the role.
Investing in Your Employees Will Enhance Employee Retention
As mentioned earlier, employee retention is one of the biggest problems companies are facing right now. A solid development program will definitely bring benefits to decrease turnover rates. Here are the benefits of how a development program will enhance employee retention:
- Employees will be loyal to the company: When an employee gets involved in these types of programs, it makes them feel like the company values them, making them want to grow with the company.
- Gives the company a reputation boost: When you treat your employees good, they’ll spread the word to others and it will then spark the curiosity of others to want to see what the company is about. After all, every company does want to be labeled as “a great place to work.”
- It’s a benefit to the company: An employee who excelled in a company’s development program is a huge benefit to the company because those employees will have the knowledge, training, and skill set to take on certain positions when they become available and be able to contribute to the success of the company.Get the Latest & Recommended articles in your Inbox
Investing in Your Employees Will Give You Better Insight Into the Future of the CompanyBecause a company is always growing, your employee base is always growing too and with a development program in place, you’ll be able to keep an eye on the talents of new employees as well as the growth of current employees. As the employee environment changes, there will also need to be adjustments made to the development program as well.
Customer needs may change, a new type of leadership style may be required, and industry change is definitely going to happen, so having an employee development program in place will definitely help company culture adapt to the changes.
What are your reasons to invest more on employees? Share them in the comments below.
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Any facts, figures or references stated here are made by the author & don't reflect the endorsement of iU at all times unless otherwise drafted by official staff at iU. This article was first published here on 11th July 2019.