Why ongoing staff development is key for business success

Times are changing and your business and its people need to change and grow accordingly. The main changes in the world of work will be the increase in the amount of remote working as well as the increase in the use of technology to execute remote business functions.

Statistics on development and training show that feeling valued and investing in your staff will pay off handsomely. Research shows that 70% of employees in the USA would consider leaving their current job for one that is reputed to invest in staff development. Staff development, therefore, not only builds skills within your organization, but also builds loyalty among your staff – something that is not easily quantified.

The numbers prove positive all round when you invest in staff development. Not only are staff members proven to be more productive once they have been offered opportunities for learning and development, but this translates into profits and success for businesses, too. Profit margins among companies that invest in staff learning and development are found to be more than 20% higher than those that do not.

What is real staff development?

Staff development is not only about building hard skills in order to maximize your staff’s operational talent but also should include soft skills. This means learning and training should not only be linked to the tasks that directly impact on their work but are also developed from a humanist perspective. These kinds of skills must include the wellbeing and holistic health of the employee. Understanding these kinds of needs across different teams and departments within your business is a key element of professional HR management and should be the starting point of any development plan.

Planning staff development

Understanding the needs of the organization is the key first step in planning and investing in relevant and useful staff development. If you do not know where the skills and talent gaps are then you will not be able to adequately address them. Once you know what is required at organizational level, get your staff to consider their own developmental needs. If you are going to build loyalty and ensure employees believe the organization is investing in their skills and learning. Creating a feedback loop is essential to ensure your development plan is achieving the goals you are aiming for and that your employees feel listened to.

Future-proof your business

Keeping up with the times and tech is key and ensuring that your employees have the right skills to keep pace with relevant technologies is important. Research has shown that across the world, around 50% of all employees will need to upskill or reskill by 2025 because of the requirements being demanded by new technology and all that comes with it. Digital skills, mobile technology and analytical skills are some of the key requirements for future employees in any sector.

Whether your employees need up-skilling or re-skilling, the need for you to invest in learning and training are clear. The benefits strongly outweigh any costs for training and development, with productivity and profitability the direct outcomes of staff development.