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Reasons You Should Be Investing in Employee Development


Every employee can benefit from a solid employee development program, whether they are salaried or hourly. Yet it's easily forgotten or let slide in the pressure of everyday business. Some days you might feel like it's hard enough to get through the day, much less manage and create a continued and future plan for employee development. But as a business owner, you can’t afford to cut employee development from your budget.

Why should you press on and try to make it happen in your business? Here are 5 reasons:

1. It helps attract and keep great employees.

Employee retention is a huge challenge (and expense) for employers. So is the hiring process. Having a solid employee development program can help make that less of a burden.

When it comes to attracting and hiring the best employees, here’s why a solid employee development program matters:

It is a benefit. Employee development can be seen as a benefit, and that is something employees weigh in the "pros" column when finding a job. Hourly employees, especially, don't always receive the benefits that salaried workers in larger companies are accustomed to. Providing employee development as part of the hiring package gives you a competitive advantage over other similar jobs and wages.

It builds loyalty. Loyal employees aren't prone to quitting. That's what employee retention is all about. Knowing that an employer is willing to provide training and development makes an employee feel important and it makes them loyal.

It increases your reputation. Having a reputation as a good employer — one who cares enough to provide training — is great both for hiring new employees as well as how customers see you. Word gets out about who is good to work for, and that can affect sales as well as the hiring process.

It brings in good people. By offering training, continuing education, conference attendance, or even something as simple as a book allowance, with the understanding that you expect them to participate, you will attract employees who are looking to better themselves. That's an employee you want to hire in the first place.

2. It helps you create promotable employees.

Hiring managers and other upper-level employees from within is a good idea. Who else is more familiar with your day-to-day business, and with your customers? But not every long-time employee is ready for such positions, and promoting them when they aren't leads to problems.