It’s important to invest in your employees
Human Resources professionals within any organisation are largely responsible for talent management and should ensure the strategy is efficient and effective. This will reduce turnover of employees and increase the chances of top performers staying. As a result, this means there will be significant cost-saving - replacing staff is an expensive process, estimated at around £30,000 per individual when you consider the time spent, new equipment needed and training required.
Bearing this in mind, it’s a no-brainer for companies to put a lot of effort and significant funding into their talent management processes and necessary training. Some key areas to focus on are outlined below…
Streamlined onboarding training programmes
Too many organisations don’t put enough of an emphasis on the onboarding processes for new starters. If they don’t settle in quickly and aren’t made to feel comfortable, they are much more likely to look for a new job early on in their career with you - new recruits with less than one year at a company are often responsible for inflated turnover rates.
Well thought out onboarding processes which expose the new team members to company culture and integrate them with others during their first few days are vital. Missing out on this critical period for professional and social development can make a new recruit feel isolated and creates a negative perception of the organisation as a whole.
Empower employees to develop themselves
The majority of professionals, especially those who are at a relatively early point in their career, relish having an opportunity to improve their progression prospects. Development opportunities are also beneficial for the more senior level individuals as they can help prevent the stifled feeling that can often occur when roles become repetitive.
By allowing employees to improve their skills, you will be adding to the skill sets at your disposal - a positive thing for business. An organisation’s focus when looking to fill a role should always be internal before looking to hire externally - offering internal mobility and displaying how attainable promotions are can be powerful retention tools.
How to promote self-development in the workplace
- Provide innovative learning experiences - engaging training methods are more attractive to employees
- Take an interest in every individual’s development - if employees feel supported, they are likely to perform better
- Promote a culture of learning - if continual professional development is seen as the norm, everyone will want to partake in training
- Encourage mentoring amongst employees - having a mentor can be hugely helpful in facilitating development
Employees are your most important asset
It’s no secret that employees are directly responsible for their employer’s success. By keeping your workforce content on a daily basis and empowering them to succeed in their individual roles will benefit your organisation. A happy and well incentivised office is often a successful one.