It’s often said that an organization’s most valuable resource is its people.
An increasing number of leaders are turning these words into action by investing in training and skill development for their workforce.
In fact, employee development is quickly becoming one of the biggest trends in the workplace for 2022. Companies who make it a cornerstone of their culture will be well positioned to hire and retain top talent in a competitive job market.
Simply put, employee development refers to the support an employer gives to their employees in learning new skills or improving upon existing knowledge.
According to a 2019 LinkedIn survey, 94% of employees said they would stay at a company longer if it invested in helping them learn. Over a quarter of Gen Z and Millennial respondents in that same survey cited learning as the number one factor that makes them happy at work.
The benefits of a strong employee development program are far reaching — it has the ability to impact every aspect of the employee lifecycle.
In the post-pandemic hiring landscape, companies with robust learning and development cultures will quickly set themselves apart from the competition.
A recent study showed that 76% of employees think companies are more attractive if they offer additional skills training, reinforcing the importance of sharing professional development opportunities as part of the overall perks and benefits for new hires.
Companies can use employee development programs to help reverse the growing trend of disengaged employees in the workforce.
Learning opportunities tailored to the individual foster engagement and a sense of loyalty, even among a hard-to-motivate subset of employees. And for the superstars on the team, professional development is a surefire way to keep them excited and interested in their current role that directly contributes to the company’s overall growth.
Career Growth Tool
With the Great Resignation well underway, 87% of employers say they are struggling to fill positions due to a lack of skilled candidates— a hiring trend known as a skills gap. This is prompting companies to invest in upskilling— providing specific training to current employees so they can transfer to a new role or be promoted. For hard to fill roles, upskilling can bridge the gap while also providing career growth opportunities for top talent on the team.
As the war for talent continues into 2022, providing individualized learning and development opportunities will help companies hire, retain, and promote top talent for years to come.