There is no doubt that employees are every company’s biggest asset. In saying that there should be continued efforts of a company to boost the performance of its employees. Investing in talent is imperative if a company wants sustainable business growth and overall success. It is not only important to recruit and hire qualified staff, but also invest in their skills and overall development. Good training and development programs are a way to help the company retain the right people and therefore grow profits. Training and development foster employee engagement, feeling appreciated, and motivated to prove themselves, which is crucial to the company’s overall performance.
What is the difference between training and development?
Even though training and development sound somewhat like the same thing, and consequently have the same goal – having a great workforce, they are different. Employee training is a program designed to develop specific skills. Those skills and knowledge obtained by training programs raise from the need of doing specific jobs, projects,s or tasks in a more efficient and successful way. Training is usually a process that is not so long. On the other hand, employee development can be somewhat of a lengthy process. It is because employee development focuses more on helping employees improve broader skills and knowledge that can not only have an impact on a specific job but an impact on their careers. Developmental skills include skills such as decision-making, communication, and leadership.
Importance of development and training
One of the most important benefits of training and development of employees is to shape a more efficient, competitive, and engaged workforce.
Here are some reasons why it is important to invest in employee training and development:
Even though the weaknesses of the company’s employees are a thing that keeps them and the company as a whole from reaching their true potential, development, and training are a solution to that problem. So identifying certain skills that employees are lacing is of the utmost importance. A training program presents an opportunity to work on the needed skills of employees. Similarly, a development program helps to expand the knowledge and habits of all employees. These are the way for company owners to bridge any gaps and weak links within their organizations. In such a way, every employee will be in a position to achieve their true potential and have a positive impact on their company’s overall success.
Hiring and retention of employees can easily become challenging for employers. Retention of employees is more cost-effective, so instead of hiring new people to fill the gaps in skills and knowledge, it is financially more effective to invest in your current employees. But why not kill two birds with one stone. Employment contracts that offer training and development programs can be the base of establishing employee’s sense of value within the company, fosters loyalty, and therefore staff retention.
Investing in employee training and development and tailoring those programs to the specific needs of each individual will have a great influence on employees and gaining their trust. Consequently, those employees will feel a greater sense of autonomy, appreciation, value, and confidence within their work.
Increase workplace engagement
Boredom in the workplace, as well as feeling, stressed and overwhelmed by difficult tasks can create feelings of dissatisfaction and negative working habits. Regular development initiatives can prevent those issues. Having somewhat frequent training programs will also help company not to get stuck at the dead-end but establish regular re-evaluation whether it being evaluation of employees, their skills or company’s overall performance.
Boost company reputation
As mentioned above, employee training is not just good for the employees but also for the company. A company that works on training its employees will be more attractive to potential new employees. As well as more profitable and can have better reputation resulting in attracting new clients.
How to develop a successful training and developmental strategy
Listed below are some of the key steps to making sure that training and developmental programs work:
Focus on targeting soft skills
Training for soft skills is considered the number one priority for talent development. The reason for this is a surge of industry change, automation, and technological advancements. Working on developing soft skills is important as the modern workplace requires adaptable, critical thinkers that can communicate effectively.
Personalize employee development
Now every individual is the same so training programs that approach with a “one size fits all” mentality are not a way to go. It is important to evaluate each employees’ specific skills and approach to learning, tailoring their program to them specifically. When developing programs, businesses should think of employees as individuals and their training should be customized to their needs.
Create a strategic development plan
As the answer to the existing skills gap and lessening it, employers need to take the initiative in teaching and upskilling employees. Creating a development plan should begin by establishing business objectives and goals. It is important for the company leaders to ask themselves one simple question- what business goals and objectives do we hope to impact through training? Answering that question is a good foundation for creating a strategic development plan. Company leaders also need to decide what skills are needed within the business focusing on aligning them with the objectives they previously set.