You’ve determined your budget, your long-term and short-term goals, and now it’s time for your employee development plan. Investing in your employees not only yields happier employees, but also yields productivity. Instead of skipping this step, consider using your business objectives as guidelines for your plan. Do you need someone to learn a new software to teach to the rest of the team? Will your growing company need leaders who can successfully on-board and manage employees? Here’s why you should create an employee development plan to lead your team and company to success.
- Including a budget for employee development shows you care.
Choosing a few of your employees to attend a conference, training, or other special event shows that you’re interested in your employees’ tenure at the company. It shows that the company wants them to grow, bring new knowledge to their team, and stay relevant in the workforce. Consider setting a budget aside for employees to pitch their own conferences and trainings they’d like to attend as well. This will give team members a chance to find creative opportunities for growth, as well as make their voice feel heard.
- Developing internal candidates can save time and money.
Though there are occasions when you need to look outside of the company for hiring, developing current employees is often less costly. They know how the company works, the objectives, and are familiar with the team. Giving the tools to standout employees who need to become managers or takeover a new department prevents a long hiring process and keeps momentum going.
- An employee development plan gives you a chance to get to know your team members.
Is one of your team members interested in graphic design? Do you have an employee who has a language skill that could be utilized? When creating your employee development plan, talk to your employees. Figure out what skills they already have, what they are interested in, how they want to grow, and what could be useful for the company. You’ll also find that your employees most likely want to learn and improve. This shows you’re interested in giving them skills they actually want to have, and not just what you need.
- You’ll be able to assess if your business objectives are achievable.
It’s easy to make business objectives for your company, but sometimes they may not be as feasible as previously thought. When you put together your employee development plan, you can adjust your business objectives to make sure they align with what’s feasible for your company. You’ll find out what’s missing and what you actually have, and perhaps identify a new goal. Set yourself up for success, not failure.
- Employee development leads to happier employees.
Arguably this is one of the most important reasons to have an employee development plan. Research shows that happier employees leads to productivity, lower turnover rates, and an overall positive workplace culture. Google is an excellent example of a company that invests in employee development. They offer free classes, lectures, and even employee-to-employee training programs. Ultimately, the goal is to increase revenue and achieve milestones; happy employees can help do that.
Need help creating an employee development plan or interested in developing your own skill set? Head over to our contact page to get a consultation today.