What if we train them and they leave? 5 reasons to develop your people

“What if we train them and they leave?”

If I had a pound for every time I’ve heard this, I wouldn’t be here now. It’s an issue facing many companies, leaders and managers.

But instead of asking that question, consider this:

What happens if you DON'T develop your people and they stay? ?

…Are they going to have the skills, attitudes and behaviours that your business needs to thrive within this constantly changing world? Would you rather have a team that isn’t working to their full potential? I doubt it.

?“Making sure our people are developing is not a luxury.

It’s an essential for our survival.”

?The above is a quote from Laszlo Bock, Ex Senior Vice President of Google - I don't think it's an understatement.

Here are 5 reasons why employee development is important to your business at any time, but especially now, when there’s a lack of talent available thanks to the “Great Resignation”.

1. Attraction and Retention

Prospective employees, particularly Millenials and Gen Zs are looking for businesses that are committed to developing their people. They’re far more likely to research a company before applying for a role than previous generations, whose focus was more likely to be finding a “good job” with longevity.

These days, the majority of candidates ideally want businesses that provide them with purpose, are committed to diversity, inclusion and equality, and that offer flexible working and career development. Many are actively not applying for, or leaving businesses that aren’t fulfilling these requirements.

However, according to a 2021 LinkedIn survey, a staggering 94% of employees said that they would stay in their job longer if the business has learning and development opportunities.

LinkedIn also quotes that 50% of people looking for roles will find them through word of mouth. Therefore, one of your strongest tools in recruitment is your current employees. When they feel valued and are happy they’re the best brand ambassadors you can get. They’ll tell their friends, family and connections how happy they are… which means if things aren’t great, they’ll also share just how unhappy they are!

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2. Employee Engagement

What is employee engagement?

The Gallup definition says: “The involvement and enthusiasm of employees in their work and workplace. Employee engagement?helps you measure and manage employees' perspectives on the crucial elements of your workplace culture”.

Employees who receive development, are more likely to be engaged, and consequently more productive. Development and training provides them with the skills and behaviours that make them feel more confident and be more effective. This in turn impacts their relationships with stakeholders, both internal and external. It builds self-esteem and makes them feel valued, as a result, they’re less likely to leave, particularly if there are progression opportunities.

3.????Business Growth and Development

Nothing stands still for long, if at all. We’re bombarded with changing technology and all that entails. The Pandemic had a huge impact on not only the way we have had to work, but how we can now work, and has created a massive shift in people’s expectations and values.

In order for your business to keep up with constant change and not just exist, but thrive, the people who work for you need to be equipped with the skills and behaviours to support change. Particularly when it comes to managers and leaders, they need to be able to inspire their teams to meet and see business challenges and fulfill their potential (as well as their own).

The most successful businesses are those that trust and empower their people to be autonomous and make decisions for themselves. They work better as teams, whether that’s their direct team or the wider teams within the organisation. This allows businesses to be more creative, innovative and to keep up with, and ideally ahead, of the game.

If you don’t equip your people by developing them and meeting their needs to enable them to meet the changing needs of your customers, how will your business grow and thrive?

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4.????Creating a Talent Pool

Within most businesses there’s a hidden pool of talent just waiting to be given the opportunity to thrive. Potential leaders, for example, those who will develop into the next generation of business leaders. Every business needs great leaders and whilst it’s important that new blood is brought into the business, transfusions are costly!

The benefits of developing your internal talent are significant. Whilst it may sound expensive to develop your people, compared to attracting and hiring new people, it’s actually very low.

Consider this:

• Recruitment cost - ￡6,000 for the recruiter (based on an average salary role)
• Time spent preparing for interviews, the cost of HR and Management time – hours, days, weeks, months.
• Even highly experienced and skilled people need good induction and on-boarding, nobody will hit the ground running from day one. On average it takes approximately six months for a new hire to be embedded into their team and the business. Unsurprisingly they’ll have a lot to learn, about customers, culture, processes and procedures of the businesses.

According to HR Review (in 2015) the overall cost of a new hire to a business is ￡30k. There’s no doubt that will be more now.

Investing in and developing your existing talent to fulfill the critical roles in your business is likely to cost significantly less than this. Plus, they are likely to already be engaged with the business, know the business, the benefits and the pitfalls. Yes, there’s a chance they may leave if you develop them, but there’s a far greater chance that they will stay, particularly if your business has an environment and culture that makes them want to stay.

5.????Improved Customer Experience

Whether your employees have internal or external customers, the experience that customer has is vital to your business.

By providing your employees with ongoing and relevant development to help them meet the needs of your customers will help to ensure they receive the best possible service. This will undoubtedly help to raise your brand profile - both your “external brand” and your “employer brand”.

Remember, people talk about bad experiences much more than good, strange but true. So, to make sure your customers and employees are saying good things, to create the best possible brand, people development at all levels needs to be seen as an organisational priority and NOT a luxury.

And finally….

Of course I’m going to advocate developing your people. It’s my business, but it goes far beyond that. I believe in amazing service and I get really frustrated at poor service, whether it’s from a garage, a restaurant, a supplier or me. I get equally frustrated when I see businesses that don’t give their people the support that they need to do their job – or they just 'tick the boxes'.

A safe, vibrant, inclusive culture will foster happy, engaged employees and this really does translate to a better business and eventually, the bottom line. Because those people will be happy and supportive to their customers – you can see it in their body language and hear it in their voices – even on the phone. People who go that extra mile, are invested in the business and their people, it will feel more like a partnership or a family than an employer / employee relationship. They will support you through good times and then especially the bad. Believe me, I’ve been there.

Whilst it may seem like an extra expense to get somebody like me into your business to help you develop a people strategy, think of it as an investment. It will take time for that investment to produce dividends but when it does, you’ll be delighted with the result.

Ultimately it can save you money and make you money. Win, win.

A great place to get started with team development is with our People, Personalities and Productivity Workshop.?It will help you start to develop your talent pipeline and become an employer of choice and it's beneficial to both individuals and teams as a whole.

Contact me today to take the first step... or take a look here for more info.