Pros of Employee Development
The University of California-Berkeley's Human Resource Guide defines employee development as the continuous "acquisition or refinement of skills and knowledge." Advantages for encouraging employee include dissemination of information, an overall organizational increase in skills and knowledge, and improved job satisfaction and employee retention.
Other People Are Reading
-
Benefits to the Company
-
Employee development and training is beneficial to the company for information dissemination on important legal and ethical guidelines, as well as the introduction of any new strategies a company wishes to implement. Employee development also provides a pool of qualified employees in the event of a position opening, enabling a company to promote from within. This is beneficial from a financial standpoint, as employee recruitment and training is expensive. Training and development in the areas of ethics, job discrimination and sexual harassment reduce the risk of lawsuits.
Benefits to the Employee
-
Opportunities for advancement contribute to employee loyalty and job satisfaction. The specter of a dead-end job motivates many employees to seek opportunities elsewhere. Even if a company does not have an open position to which to promote an employee, a lateral move and the opportunity to develop new skills often can prove satisfying to employees. Allowing employees to develop and explore their strengths can create a better match between positions and employees, increasing both job satisfaction and productivity.
-
Corporate Culture
-
Corporate culture includes the value that management places on its employees, and investing in employee development activities such as cross-training and professional development makes employees feel valued. Valued employees, in turn, are more motivated and productive. A culture that encourages development will attract and retain top employees.
Employee Satisfaction
-
According to a 2008 survey conducted by Salary.com, "Employers continue to underestimate employees interest in actively searching for
new employment within the near future." According to the survey, the most popular benefit employees weigh in staying at their present job is professional development, followed by the ability to work from home, an additional week of vacation and a flexible work schedule.
Employee Development in Recession
-
The Wall Street Journal reported in 2009 that the economic slump caused many companies to cut employee training and development budgets. Based on surveys of human resource executives, companies cut training budgets 11 percent that year, with more cuts anticipated. Despite cutbacks, many employers continue to invest in leadership development, hoping to have sufficient leadership post-recession. "Identifying and grooming leaders is always important," said Bret Furio, a senior vice president at Phillips Electronics, "In times of crisis when the economy is struggling, it's imperative."
-
References
- Photo Credit business meeting3 image by Andrey Kiselev from Fotolia.com
