Only a few businesses take time to invest in the professional development of their employees, missing its benefits to both their employees and the business itself. My Business discusses what makes professional development important for businesses.
Continuing professional development for employees is imperative if business owners want to see their business grow along with their employees.
Some of the most evident benefits of providing career development for employees include:
- Improving employee performance
- Increasing employee satisfaction
- Retaining talented employees
- Saving time and money for businesses
Improving employee performance
Employees who are given the opportunity to undergo professional development perform their roles better, especially after completing the necessary training. As employees learn more about their roles and the improvements that need to be made, they naturally become more efficient and deliver outputs that are better in quality.
Part of improved employee performance is a boost in employee confidence, which comes after the employee receives recognition for their work as a result of professional development training.
A positive level of employee confidence not only improves business performance but also helps employees remain updated regarding the most recent developments in their respective industries which they can introduce into the business itself.
Increasing employee satisfaction
Businesses that take time and effort to engage their employees in all relevant professional development training already have a significant advantage against other businesses who leave employees to their own devices when it comes to looking for training.
If a business invests in the professional development of employees, it shows that the business cares about its employees, values them and has their best interests at heart. If employees feel appreciated and get recognised for their efforts, their satisfaction increases and this increases employee loyalty in the long run.
Retaining talented employees
The most obvious benefit of professional development is keeping employees sharp and in tip-top shape—thus helping them do better at their jobs.
Statistics show that employees are much more likely to remain in businesses which prioritise their professional development than those who don’t. In the long run, the business will not only have loyal employees but talented employees who are also dedicated to their job.
While attending conferences and forums are definitely beneficial for employees, business owners could provide training in the form of simpler tools, such as online discussions and webinars, that can be watched on their computers.
Saving time and money for businesses
Businesses who invest in their current employees and create avenues for them to become better at their jobs can save more time and money in the long run compared to businesses who choose to incessantly hire new employees after seeing that current employees fail to deliver.
A set of well-trained employees surely helps in increasing business profits and output and can help business owners become proactive and future-oriented when it comes to the path that the business will undertake.
If businesses allow employees to grow within the company, less time and money is wasted for new employee turnovers and basic training. Employers also get to equip employees with all the needed skills as they progress in the workplace.
This enables the business to gain managers and superiors who are well acquainted with the job and its demands, especially if they started from the bottom rungs of their career ladder.
Investing in professional development is definitely a costly endeavour for businesses who are just starting out in their respective industries. But if employers want to grow their business and maintain their position in the market, helping employees remain at the top of their game by way of professional development is a great way to secure a loyal and highly-talented employee base.
- Opinion: Why do so many claim to represent small businesses?
By Adam Zuchetti
- Opinion: House prices not all doom and gloom
By Adam Zuchetti
- Analysis: How can SMEs realistically stay competitive?
By Adam Zuchetti