Employees have plans for their personal and professional lives. From getting married to having children, to gaining promotions and pay rises and everything in between.
And because everyone is different, their plans are bound to differ.
So you need to consider individual employee development. This term refers to the process of supporting your staff through training programmes. The aim is to develop new skills, knowledge, or enhance existing abilities.
This piece explores the process of creating individual employee development plans and introducing them to the workplace. It also highlights the benefits of investing in employee training and development.
What is the goal of employee development?
In today’s working environment, most businesses are now aware of the value of employees—as well as the importance of retaining them.
You should acknowledge the need to invest in self-development plans for employees to train, nurture, and develop their skills and knowledge.
It’s a major factor influencing your staff’s retention, engagement and morale, especially amongst Millennials.
The aim is to prepare employees to face adverse and unforeseen conditions or challenges on the job.
When done correctly, it can directly affect engagement, productivity, and absenteeism within your workforce as well as improving overall business goals.
Apart from improving retention rates, other benefits of employee training and development include:
Reduced employee turnover.
Increases job satisfaction, morale and motivation.
Decrease inefficiencies in work processes.
Up-to-date knowledge of the latest industry trends and practices.
Enhanced company image.
You may be wondering how training and development improves employee motivation. While businesses understand the need for motivated employees, a common misunderstanding is these motivations should be monetary.
Although your staff may welcome it, financial rewards only go so far to address the feeling of stagnation or a decrease in the motivation of your staff.
According to a 2018 survey by Linkedin, over 93% of employees said they would stay at a company that invests in their career. It’s an indicator you value their contributions to your organisation and are including them in your plans for the future of your organisation.
