Support beyond company's needs
Employee Growth
Human capital is the most important of all capital goods and it should be maintained in good condition, improved and enhanced like any other capital goods in your company. If this is done correctly it increases in value and productivity. Like leased capital goods it usually stays off the balance sheet, because it’s not owned by the business. However, it is beneficial to treat human capital with all its qualities such as: skills, knowledge and commitment, as one of your most profitable assets.
It is of utmost importance that employees fit not only the organization, but also the job they are required to do. Person-organization fit refers to the degree to which a person’s personality, values, goals and other characteristics match those of the organization. Person-job fit refers to the degree to which a person’s knowledge, skills, abilities and other characteristics match the job demands.
Employees must constantly grow their skills. Making employee development a priority within your company culture ensures your team stays well-informed on industry trends and best practices. It also boosts engagement and attracts top talent.
Employee professional development is the process where employees, with the support of their employer, go through professional training or pursue learning opportunities to improve their skills and grow their knowledge and careers.
Only 30% of organizations have learning and development plans. The majority of them don’t think it is very important and make many of their employees feel undervalued and underdeveloped. This result in a disengaged workforce and high turnover rates. And when employees leave often, you have to hire replacement which is costly. The average cost to hire your next employee is another 50% of a yearly remuneration of low and medium skilled employees and up to 200% for top skilled ones. You can’t allow to have unhappy employees that come and go. It cost you too much. If you don’t start investing in your team and developing your employees, they’ll find someone who will.
Developing your employees will boost your profitability. When companies offer comprehensive training programs, they enjoy an up to 25% higher profit margin and have almost twice higher income per employee than companies without formalized training.
And tailor your development plan to reflect your unique workforce. Everybody is different and everybody has different needs and learning styles.
A good plan should aim to provide opportunities that meet your employees’ individual aspirations, should address your company’s long-term growth goals and it should address leadership training by helping employees grow as future managers and leaders of your company.
Encourage employees and managers to meet regularly to discuss the career development plans and brainstorm opportunities for professional development.
But what happens when one or more of your employees have career and personal goals leading them towards targets that are beyond the needs and goals of the organization? According to a cutting edge conscious business approach, you support your staff in such cases as if it was one of your business goals.
If some of your employees show interest in learning more about a specific topic, such as public speaking, host a training seminar. To cut costs, tap into your leadership team’s networks to identify a talented orator and colleague who may be interested in sharing a few tips during a lunch break. What if one of your employees loves painting? Organize painting time during his work time, buy him supplies, organize a tutor, direct toward educational opportunities, have career counselling session with him.
To check whether your employee is in the position he likes – organize shadowing and mentoring in your company, let your employees taste other positions in your organization. Organize rotation. Someone might be much better fitted to work in sales than production. Encourage self education and skill development by using free or budget platforms like Udemy or You Tube. Check progress and plan for more together with the employee. Be interested and care!
Investing your time, effort and money in the career of your employees - that might lead them to become independent and leave your company - might seem counter-intuitive. However, research shows that when making your employee’s development a central part of your organization - to the point when you see a person beyond your organization – your company will benefit in more ways than one. Investing in your employees helps your workforce to stay engaged and positive which is proven to be more productive and more profitable compared to average of the companies with disengaged employees.
Support beyond company's needs
Employee Growth
Human capital is the most important of all capital goods and it should be maintained in good condition, improved and enhanced like any other capital goods in your company. If this is done correctly it increases in value and productivity. Like leased capital goods it usually stays off the balance sheet, because it’s not owned by the business. However, it is beneficial to treat human capital with all its qualities such as: skills, knowledge and commitment, as one of your most profitable assets.
It is of utmost importance that employees fit not only the organization, but also the job they are required to do. Person-organization fit refers to the degree to which a person’s personality, values, goals and other characteristics match those of the organization. Person-job fit refers to the degree to which a person’s knowledge, skills, abilities and other characteristics match the job demands.
Employees must constantly grow their skills. Making employee development a priority within your company culture ensures your team stays well-informed on industry trends and best practices. It also boosts engagement and attracts top talent.
Employee professional development is the process where employees, with the support of their employer, go through professional training or pursue learning opportunities to improve their skills and grow their knowledge and careers.
Only 30% of organizations have learning and development plans. The majority of them don’t think it is very important and make many of their employees feel undervalued and underdeveloped. This result in a disengaged workforce and high turnover rates. And when employees leave often, you have to hire replacement which is costly. The average cost to hire your next employee is another 50% of a yearly remuneration of low and medium skilled employees and up to 200% for top skilled ones. You can’t allow to have unhappy employees that come and go. It cost you too much. If you don’t start investing in your team and developing your employees, they’ll find someone who will.
Developing your employees will boost your profitability. When companies offer comprehensive training programs, they enjoy an up to 25% higher profit margin and have almost twice higher income per employee than companies without formalized training.
And tailor your development plan to reflect your unique workforce. Everybody is different and everybody has different needs and learning styles.
A good plan should aim to provide opportunities that meet your employees’ individual aspirations, should address your company’s long-term growth goals and it should address leadership training by helping employees grow as future managers and leaders of your company.
Encourage employees and managers to meet regularly to discuss the career development plans and brainstorm opportunities for professional development.
But what happens when one or more of your employees have career and personal goals leading them towards targets that are beyond the needs and goals of the organization? According to a cutting edge conscious business approach, you support your staff in such cases as if it was one of your business goals.
If some of your employees show interest in learning more about a specific topic, such as public speaking, host a training seminar. To cut costs, tap into your leadership team’s networks to identify a talented orator and colleague who may be interested in sharing a few tips during a lunch break. What if one of your employees loves painting? Organize painting time during his work time, buy him supplies, organize a tutor, direct toward educational opportunities, have career counselling session with him.
To check whether your employee is in the position he likes – organize shadowing and mentoring in your company, let your employees taste other positions in your organization. Organize rotation. Someone might be much better fitted to work in sales than production. Encourage self education and skill development by using free or budget platforms like Udemy or You Tube. Check progress and plan for more together with the employee. Be interested and care!
Investing your time, effort and money in the career of your employees - that might lead them to become independent and leave your company - might seem counter-intuitive. However, research shows that when making your employee’s development a central part of your organization - to the point when you see a person beyond your organization – your company will benefit in more ways than one. Investing in your employees helps your workforce to stay engaged and positive which is proven to be more productive and more profitable compared to average of the companies with disengaged employees.