Most companies do not invest in their employees.  For many providing a job and paycheck may seem like enough.  However, with a rapidly changing workforce the requirements to have the job done well by satisfied employees is changing.  As millennials and Gen Z’s both enter and continue to dominate the workforce, their criteria for a great job clash with the traditional ideas from management.

Investing in employees is not an unnecessary expense;  it can be a key to company growth and performance.   Here are three reasons why:

Increase Performance

Learning should not stop after university or course.  At work, it should be a recurring practice to learn new skills and to stay on top of trends within the industry.  Investing in employee courses ensures that a company’s staff continues to refine their skills.  Which can then lead to an increase in their overall performance on the job.  Courses also help to boost employee confidence in their work and abilities which is a win-win for the employee and the company.

Retain Employees

The younger workforce is not solely concerned with a paycheck.  Providing them with courses shows that the company wants to invest in their employees and their overall personal and professional growth.  This is not just good for the employee to feel valued at the company, but,  it also helps the company avoid high employee turnover.  Employee development programs are proven to help companies retain happy employees.  Which inevitably helps the company with continuity and overall performance and growth.  All companies are aware of the dangers of an ever-changing staff, thus retaining employees is a key attribute to a successful company.

Mobility within the Organization

Many managers will tell you that promoting employees to higher positions as opposed to hiring a new employee is always a better option.   This is because an employee understands the company,  its process and has been trained internally for the job.  That knowledge and familiarity are extremely beneficial to a company as opposed to hiring a completely new person.  The transition is often a lot more seamless and effective this way.  Investing in employees will also show other employees that there are opportunities for growth within the company.

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