Regardless of the size of your business or industry, encouraging self-improvement among your employees is essential. When your team dedicates themselves to self–improvement, they will become motivated and even inspired by their work. The result can be exceptional work performances from all your staff members. There are great reasons to encourage self-motivation and numerous creative ways to provide development opportunities for your employees.
Employee turnover and hiring costs are some of the biggest expenses for businesses. Estimations suggest that the cost of looking for new team members consistently costs companies around $11 billion per year. Untrained employees are more likely to leave a company within their first year of employment. According to LinkedIn, 93% of employees would stay if a company invested in their careers. Professionals who are not happy with their workplace cite lack of growth and employee development as the main reason for being unhappy at work. Facilitating worker development is one of the best strategies for reducing employee turnover.
As a leader, your primary reason for bringing in new hires is to build an efficient team. However, expanding staff is not the only way to get more work done daily while bringing more clients on board. Instead of spending money on hiring new talent, why not maximize current employees’ value by investing in employee training? A lack of engagement costs business owners around $500 million per year. Consider that low productivity, poor organizational habits, and a lack of organizational skills might be the things that are holding your company back from doing its best.
Training Improves Workplace Innovation
Educating your employees on new technologies and trends will allow you to be innovative. With employee training, you develop the skills needed to create next generation approaches to service handling. By developing your employees, you impact workplace innovation in the following ways:
- Creativity and brainstorming
- Workplace stress management
- Communication flexibility
- New tools and technologies
Employee Training Leads to consistent performance
When you invest in employee training, you ensure the team’s adherence to standards and best practices. The process of improving the brand’s reputation and operational efficiency with the help of employee education helps business owners maximize their revenue.
Employee self-improvement is great for business. So, how can you provide development opportunities to your employees?
- Personal development funds. These funds allow employees to spend money on a music or pottery class or even a gym membership.
- Flextime. Consider offering flextime to employees who are pursuing education or interests that fall outside of normal hours.
- Tuition reimbursement. A fantastic incentive to encourage ongoing formal education.
- Learning opportunities. Offer opportunities for employees to learn the latest advancements in training, technology, and industry.
- Participant-driven learning. Give employees choices in what they are learning and how they are learning.
Ready to Staff Up?
Another fantastic way to get exceptional work performance is by contacting SI Staffing. These professionals provide 24–hour staffing services with the top-notch talent your company needs to meet deadlines and work efficiently.