When you strategically invest in employees, you attract and keep all the best candidates, and you also build a strong work culture unafraid of innovation, change, failure and success. Employees take the bull by its horns and run with ideas, instead of running away from problems.
Why should we invest in your employees?
Investing in your employees’ skills will not only boost their morale and efficiency, but it will also prepare them for more responsible positions within your company. This way, you won’t have to look for external candidates but, instead, can reward a loyal and knowledgeable staff member with a promotion.
What happens if we invest in our employees and they leave?
Old business joke: CFO asks CEO: “What happens if we invest in developing our people and they leave us?” CEO: “What happens if we don’t, and they stay?” I always like hearing from readers – you often learn more from them than from management textbooks.
How do I invest my employees?
16 Simple Ways to Invest in Your Employees and Reduce Turnover
- Invest in their personal and professional development. …
- Integrate new hires quickly. …
- Set clear expectations for each role. …
- Start a buddy system. …
- Build a mission statement that gets employee buy-in. …
- Prioritize work/life balance. …
- Host team building activities.
Why we should invest in people?
Because productivity and profitability depend on talent, high-performing companies know that investing in their people drives better outcomes. The added benefit is individual growth and job satisfaction in a time when businesses cannot afford to lose key talent.
Can employees invest in their own company?
Legal Insider Trading
Insiders are legally permitted to buy and sell shares of the firm and any subsidiaries that employ them. … Legal insider trading happens often, such as when a CEO buys back shares of their company, or when other employees purchase stock in the company in which they work.
What happens if you don’t train them and they stay?
Therefore employers often ask “What if I train them and they leave”? The risks of untrained employees can include low production value and inefficiency, lost time and money. Mistakes from poor training take time and resources to rectify. They also lead to lost customers and generally unhappy employees.
What if I train them and they leave what if you don’t and they stay quote?
The famous Richard Branson quote that he penned in 2014 goes “Train people well enough so they can leave, treat them well enough, so they don’t want to”.
Who said what if we train our employees and they leave?
Richard Branson is quoted as saying “Train people well enough so they can leave. Treat them well enough so they don’t want to”. This research helps demonstrate that investing in development is part of treating people well.
Can a company not pay you for training?
Not paying your new hires during their training is nearly always illegal. Employees must be paid for all time they spent working, which generally includes training time.
What makes an employee want to stay in the organization?
Trust in leadership: A company’s culture is a reflection of leadership. Like all long-term relationships, trust is a factor. … Great employees stay because they can trust that leadership has their back. They can trust that leadership will make the best decisions for the company.
Why investing in your employees is the future of work?
Through employee development, you can give your team the skills they need to improve their day-to-day work, get better outcomes, and boost your bottom line. A better-trained workforce brings increased output for your company.
What are the benefits of employee development?
6 Benefits of Ongoing Employee Development
- Fight off Stagnation. …
- Discover New Talents (and Weaknesses) …
- Maintain Engagement. …
- Gain a Competitive Edge. …
- Increase Productivity and Satisfaction. …
- Attract and Retain Talent.
Why is it important to invest in training and development?
Essentially, investing in employee training increases profits by lowering expenses, which happens in the form of benefits like reduced turnover or fewer fines due to incompliance. Training also helps to increase revenue, which comes in the form of accelerated sales growth and higher productivity.