Why do employees want training and development programs? 

It’s simple. They’d like to get better at their jobs. 

- SHRM

So that’s why organizations need to prioritize their employees’ development, not only for their upskilling but also for their satisfaction. As job satisfaction is closely related to greater retention and engagement. 

Employee development is a strategic process that involves training and enhancing the skills and competencies of employees to increase productivity, support succession planning, and drive profitability.

Through a variety of developmental opportunities such as workshops, seminars, and continuous learning programs, employee development not only prepares employees for future roles within the company but also boosts overall job satisfaction and organizational loyalty.

Developing an employee’s skills is better for bringing about high performance and better results.  

A lack of professional development opportunities can dishearten employees and cause them to look for new opportunities. 

Here are 4 reasons why companies should prioritize employee development.

1. Professional Development Retains Talent

45% of employees are more likely to stay in their role if they receive more training. [Built-In]

And over 90% of employees said that development opportunities would keep them in a role. [LinkedIn Workplace Learning Report, 2023] 

Moreover, retention among employees is 34% higher for those who have professional development opportunities.

2. Reduces Disengagement and Stagnant Productivity

One of the causes of low engagement is a lack of training. This can cause disengagement among your employees. 

A Gallup study found that providing professional training opportunities to employees can lead to more engagement and them being 17% more productive at work and these companies are 21% more profitable. 

Moreover, companies that invested in employee development saw a 58% increase in employee retention and a 24% increase in productivity. [The HR Digest, 2022]

So employee development must be prioritized to help employees feel more valued at the workplace.

3. Refines Leadership and Performance Management

Only 5% of leadership programs are set in place despite 85% of companies agreeing that developing future leaders is important.

Training your leaders and managers can make them better leaders who would in turn help create better leaders and bring about high performance in the organization. 

Supporting leadership development will make existing leaders more effective ones who will help their teams learn and grow quickly.

4. Leads to Mobility and Better Engagement

When employees are trained internally instead of externally recruited, it leads to them being more happy and more satisfied with their jobs, which generally means more engagement. 

Employees who move into new roles within the same company are 3.5 times more likely to be engaged than those who stay in their current roles. [LinkedIn]

Therefore, employee development brings about greater mobility in the organization along with enhanced engagement. 

We put these examples together for you to inspire you to create your own employee development programs and implement them in your organization. 

1. Host Hackathons

Hackathons are one of the most competitive yet useful methods of upskilling an organization’s workforce. 

They’re one of the most amazing events you can conduct in the organization as most of your employees would want to participate in the event and contribute their ideas and innovations. 

Participating in hackathons means working in teams to achieve a single goal of coming out on top. So every person in a team will need to brainstorm ideas and conduct research, probably into other areas, to ensure their project or ideas hit off!

So hackathons can set your organization on the fast track to employee development at shorter spans.

2. Implement Mentorship Programs

Pairing employees with a mentor can help them learn skills faster since they have a person to guide them and are working and learning simultaneously on the job. 

There’ll be a few individuals in the organization who you believe are natural leaders and have the right amount of expertise in the industry. You can ask them to be mentors for a few employees in the company.

3. Professional Training and Upskilling Programs

Obvious yet worth mentioning again, professional development programs can help your employees upskill themselves in areas they feel the need to work on in order to contribute effectively to the organization’s goals. 

It can be anything from public speaking to coding, and communication to organizing; training programs and seminars can engage your employees and provide them with the skills essential to perform efficiently. 

This will also help your employees feel valued and not plateau in their careers.

4. Offer Job Rotation Opportunities

Job rotation is an excellent way for employees to gain experience in different roles within the organization. This not only helps in building a versatile workforce but also keeps employees motivated and engaged by providing new challenges and learning opportunities. 

It's a proactive approach to encourage continuous development and helps in identifying potential leaders for succession planning.

5. Sponsor Continuing Education

Support your employees’ ambitions by sponsoring part of or all the expenses for continuing education programs such as graduate degrees, professional certification courses, or specialized training in areas related to their work. 

This not only boosts their skill set but also shows that the company invests in their long-term growth and career development.

To Conclude

Prioritizing employee development is not just a good practice—it's a strategic necessity for modern businesses aiming to thrive in a competitive landscape.

By investing in the growth and development of their workforce, companies can unlock immense potential, leading to higher productivity, better retention rates, and more robust business performance.