What is Employee Development?

Employee development is a process of learning new professional knowledge, acquiring new skills and improving abilities to do become the best version of themselves. It helps people meet personal career goals as well as business objectives, too. This term encompasses all the company’s learning, training, and development programs, whether they are completed internally or by third-party providers.

Employee retention and development are closely related. The latter precedes the former. And in between, lie employee satisfaction and performance – critical elements that connect them together.

Development: Important Part of Employee Retention

The development process starts with an employee professional development plan. Its implementation plays a significant role in keeping low employee turnover rates. It is a strategy companies follow to improve their employees’ skills, knowledge, and abilities. This plan acts as a customisable blueprint, detailing particular learning and training opportunities aligned with each employee’s needs and career goals. It should also include objectives, necessary skill enhancements, and developmental goals. Once this document is streamlined into your processes and procedures, you will have a tool to support your retention goals.

Benefits of Employee Development

Besides the main benefit of keeping your valuable employees and maintaining good company culture, plenty of other employee benefits can lead your business to positive results:

  • increased employee morale and motivation
  • increased productivity
  • engaged employees
  • career advancement opportunities
  • increased employee retention rates

The Impact of Employee Development on Retention

Employee development has a significant influence on employee retention. Organisations that prioritise learning and development (L&D) programs not only attract talent but also retain it effectively. For instance, personalised training programs have been shown to keep top workers satisfied and engaged. Moreover, professional development opportunities correlate with a 15% increase in employee engagement and a 34% rise in retention rates. Such strategies are essential in today’s competitive job market, where a clear path for career advancement can make a difference in an employee’s decision to stay with a company.

Enhancing Job Satisfaction and Engagement

These two terms are closely interconnected, meaning job satisfaction is the one that lays the groundwork for employee engagement to flourish. Job satisfaction, although having a complex meaning, is more tangible and can be measured by a few factors:

  • Salary and benefits:Job satisfaction’s first and most important driver
  • Work-Life Balance: The ideal arrangement between working time and le time.
  • Supportive Work Environment: People spend more time with their colleagues than their families, so workers’ compatibility and support are vital.
  • Recognition and Appreciation: Employees get motivated when the employer finds their work valuable.At the same time, employee engagement is the emotional connection with the company that gives them Meaning, Autonomy, Growth, Impact, and Connection (MAGIC). According to Tracey Maylett, employees provide more and are engaged more if:
    – their work has a more significant meaning to them;
    – they can work autonomously;
    – it can provide them with personal and professional growth;
    – they can make an impact on society;
    – they can make close connections with their colleagues.

Providing Career Advancement Opportunities

In today’s competitive job market, it’s vital to capture the interest of your employees. However, this can’t be achieved if they are solely focused on the compensation offered by your company. Structured career advancement programs can decrease the likelihood of employees seeking opportunities elsewhere.

There are plenty of options to consider when looking at how to provide career advancement opportunities for your employees:

  • Moving them into a new department or field
  • Expanding their job responsibilities
  • Organising networking events
  • Delivering in-house or third-party education or skills improvement
  • Sending them to seminars and workshops at home and abroad
  • Involving them in research projects

Fostering a Culture of Learning and Growth

Offering professional development opportunities to your employees fosters a safe environment where they will have room to grow. This pleasant atmosphere also brings a certain level of loyalty among colleagues. They remain loyal not only to your company but also to their peers with whom they share their knowledge. They embark on the professional development journey together, building strong bonds while acquiring new skills. Therefore, always provide courses and skills training in a group, or at least in pairs.

This collaboration brings employee engagement to a whole new level. Colleagues start to inspire and motivate themselves, developing a healthy and positive competitiveness. Once they reach this degree of engagement, you can rest assured the culture of learning and growth is set right and going in a positive direction.

Implementing Effective Employee Development Strategies

Training and development opportunities should become part of your standard day-to-day operations. Make your employees, including both old and new ones, accustomed to the fact that your company is a patron of proper practical education.

Providing structured career progression programs reduces the possibility of employees seeking external opportunities. Managers should communicate these programs with their employees and give them an active place in their development strategy. This direct communication brings forth the most valuable feeling of being in control of their future while staying with your company.

Assessing Training Needs

Employee training is a vital process of every successful company. The responsible managers and the HR department assess each employee’s needs and develop a tailored training solution accordingly. Employees recognise this detailed and caring approach and approve the chosen professional upgrade smoothly instead of as an imposed order by their superiors.

Increased employee satisfaction also depends on the possibility of personal choice. The HR door should always be open for all the workers who are eager to learn. This way, you allow self-motivated employees to self-assess their needs, thus reducing the time and effort needed for your HR team to do that work.

Offering a Variety of Learning Opportunities

Learning opportunities can be found everywhere, especially on the internet. Your company could benefit from low-cost, high-quality training and development opportunities found online. Third-party educational platforms offer solutions that don’t require additional human resources and spending valuable working time for learning purposes.

Apart from the online courses, other ways to provide learning opportunities include:

  • Live classes:  Classic courses where employees learn with the help of third-party providers.
  • On-the-job training, including shadowing and rotations: Ensuring that the skills learned are immediately applicable and relevant to their job roles.
  • Mentorship/coaching: Guidance and resources from a dedicated colleague during onboarding.

Encouraging Continuous Learning

Training and development opportunities should be embedded in the company culture, as the employees should feel invited to elevate their career path easily. Use every opportunity to show and tell your workers that your company is open to learning and development programs and career growth. E-mail communication, one-on-one meetings, and unofficial gatherings are all excellent chances to inform your workforce.

Business leaders are the ones who should provide a suitable environment for employee growth, but the employee also has to show a professional interest in continuous learning. These are the two sides of the same coin called employee development initiatives.

Find a Job Where You Will Thrive with Olive Recruit

HR solutions focusing on employee growth and retention are essential for any organisation looking to thrive in today’s competitive market. Companies can foster a more dedicated and productive workforce by implementing strategies tailored to employee growth. These strategies not only lead to positive outcomes within the team but also enhance the company’s reputation as a desirable place to work. In turn, this helps maintain a competitive edge by attracting top talent and reducing the costs associated with high turnover rates. A strong focus on employee satisfaction and retention is a significant investment in the company’s future success and stability.

Partnering with a recruitment agency also saves businesses valuable time and delivers access to a broader talent pool and useful market insights. Olive Recruit is successfully partnering with companies where employee growth is the focus, thus enabling higher employee retention.

Don’t miss out on this chance to partner with Olive Recruit today.