Why your business should be investing in staff development

To get the most from your employees, investing time and money in to their development is a time proven strategy for having happier and more motivated staff. As your business grows your employees should grow with it, so taking the time to create a culture of self development and training will pay dividends when you face the inevitable challenges that growth brings. Providing high quality development strategies will be beneficial for your business from day one, and in the long run it will help ensure your business stays ahead of the competition and retains staff and customers alike.

What aspects should I invest in?

From providing degree programmes to offering refresher courses to your employees, employers across the UK recognise the business benefits that additional training brings. Industry related courses empower your team to progress further and faster within the company whilst adding more value to their employment.

Some of the main areas companies are now focusing in for their employees include customer service and I.T., however this obviously depends on the nature of your business and what you feel needs to be a key area or areas to focus on in investing in. It is true that no matter what market your business is in, it is worth investing in your employees to get the best possible team you can running your company.

It’s not just job-related courses that you can be a beneficial investment either. Providing programmes and courses in well-being is something many businesses are investigating. With a rise in mental well-being issues in the work place, with the associated consequences of lowered performance and morale that this brings, it is very much something every business should consider. According to Entrepreneur, happier employees have 3 times more creativity, have 37% higher sales and 21% higher productivity than those who aren’t as happy in their jobs. With statistics like that it can been seen why more employers are taking the time to invest in staff wellbeing.

As well as business specific courses we can offer you programmes specialising in positive wellbeing and mental health in your company, click here for more information.

The benefits to a business in investing in employee development

Entrepreneur also showed that a company with engaged employees performs 20% better than their disengaged counterparts – that sort of difference can have a big impact on your companies’ growth and is a clear sign that with time and money being invested in to a businesses’ employees, it will realise the benefits from the get go. In many ways it could be looked at as if it were a business opportunity – a small investment that produces quantifiable results that will benefit your bottom line.

One of the main assets to a company is their work force, and the more training and overall staff development that is provided will make them an extremely valuable team within the market place. Your company will become more recognised within your industry and will attract some of the best candidates for roles you are recruiting for. At the end of the day, no one would want to work with a business if their current employees feel disposable.

Competition for top employees is growing, so offering development and progression schemes will not only allow your business to have the best in the field working for you, but will encourage your staff to follow their career with you instead of moving to another company. In turn, this leads to a much lower staff turnover rate. This is a big pay off when it comes to investing your money in to your employees.

A recent survey showed that 40% of employees in companies which offered no or poor job training and development leave their roles within a year (source: Go 2 HR). Taking time to curate and invest in long term staff development will create stronger loyalties between your business and its employees, and will most likely discourage them to leave. With any development in a company, it does cost money. Yet in the long run you will be making a saving.

Employees benefit in many ways from staff investment

The benefits for your employees will be profound if carefully curated investment is made in to their career progress within your business. Apart from gaining practical qualifications, employees will gain more value to the business through their enhanced skill set and also, and importantly, have a more positive and proactive frame of mind. They will gain a stronger work ethos and this will manifest itself in increased work productivity.

Many obstacles in life prevent many employees expanding their qualifications, and this is where work places can help. A business which can offer career development and take the time to understand what its employees need naturally becomes a magnet for attracting the best staff to fill its positions. It is a win-win for both company and colleague when it comes to investing in staff progression, as both experience positive outcomes from it. Additionally, the well informed and motivated staff will be at the vanguard as your company continues to thrive and have sustainable economic growth in the market place.

Invest and develop with The In-House Training Company

Here at The In-house Training Company we can help you invest in the best courses for your business. We offer a broad range of programmes that can be specialised to your company and employee requirements, ensuring you get maximum return on investment. To find out more about any of our popular courses, please click here. Alternatively, you can contact our team directly to discuss how we can create a training package for you, please call us on 01582 714 285 or email info@tihtc.co.uk.

 

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