Investing in Employee Development: The Why and the How

We’re all people-based businesses, and people are constantly changing and growing, just like the market.

As an employer, you must ensure your business and your team are adapting and growing with the times, or else the market will outgrow you.

Yes, it’s a scary thought, but true. However, investing in your team is a key way to facilitate that growth through training and upskilling. Now, how you do that will be different than how I do that, but what is universally important is that you DO IT.

Here’s why it is absolutely essential and how you should approach professional development in your business.

Investing in your team shows you care

I’m going to take a chance here and say that you like your team, would that be correct?

Hopefully, the answer is yes, you do (and if not, maybe reflect on that, because that’s a separate issue)!

When you show investment in your team, it shows you care. This is more than professional development for the sake of business, it encompasses their career or personal goals too. 

When was the last time you talked to your employees about their own goals, about things that they want to achieve and accomplish, without limiting it to the business goals? Whether it’s a course, going back to school entirely, saving to buy a house, or even creative pursuits for the sheer reason of finding joy, there are ways you as an employer can lend a helping hand. It could be through applying for grants for development/continued education for your team, helping them create a budget and sticking to it, you name it. Something as simple as showing support or encouragement goes a long way as well.

Upgrading their skillset upgrades the business

Upgrading your team's skills directly enhances your business in numerous ways. 

Firstly, it improves the quality of work produced, leading to higher customer satisfaction and loyalty. With upgraded skills, your team can tackle complex tasks more efficiently and effectively, leading to increased productivity and innovation. 

As your team members become more proficient in their roles, they are better equipped to adapt to changing market demands and technological advancements, ensuring your business remains competitive. Additionally, investing in skill development fosters a positive work environment, boosting employee morale, engagement, and retention. Ultimately, a skilled workforce is the cornerstone of a successful business, driving growth, profitability, and long-term sustainability.

Practice what you preach

Having your employees upgrade their skills is great, but you’re not off the hook!

You should be upgrading your skillset as well, whether that is doing the training with your team or doing separate training, the growth mindset needs to be a company-wide type of accountability. 

By practicing what you preach, you are showing your employees your commitment to their and the business’ success. If anything, when you’re in a position of power it's especially crucial to ensure you are growing with everyone, not just managing their growth. 

Ultimately, as the CEO or owner, you are the figurehead of your business, meaning you represent your business the most, so showcasing the values you uphold in your team in your professional development will demonstrate the unified alignment throughout. 

Investing in your team is not just a strategic decision; it's an investment in the future success and resilience of your business, but more than that too, it shows you prioritize and value your employees. 

A strong focus on employee development fosters a positive workplace culture, leading to higher retention rates and increased employee satisfaction, don’t you want your people to WANT to work with and for you? 

P.S. Looking to practice what you preach? Learn more about my international 3-month coaching program, Boardwalk to Profit!