Did you know that most full time working adults across the world are dissatisfied with their work? To put a more precise number on the state of the global workplace, Gallup recently conducted a study that showed only 15% of the workforce are highly engaged and enthusiastic about their work. If your business conducted a similar survey, what do you think you would find? What can be done to create a more positive and productive culture in your workplace?
It’s no doubt that this low percentage seems to not only leave a lot of wasted potential on the table, but companies all over the globe are currently experiencing high turnover. The good news? There is a lot of room for improvement! In order for businesses to create a more motivated workforce and to decrease turnover they must be willing to have a more modern approach to changes in the workplace. What results can be seen when leaving behind the traditional and ineffective practices and adapting to the expectations of newer generations entering the workforce?
Satisfied and Engaged Employees
Simply put, when a person is bored and unhappy they are less motivated to do their job and to do it well. By offering employees a solid career development program, employees become more engaged and challenged at work, often performing better, which in turn keeps your business productive.
Keep and Attract Great Employees
By investing in your workforce, you can both retain and attract great employees. By investing in your current employees, your business can create a pool of promotable workers, where loyalty and dedication are rewarded. This not only saves on hiring and training costs for those positions, but in turn creates more motivated and successful employees.
Having an employee development package as part of the hiring package will give your company a competitive edge and earn you a solid reputation in the marketplace. This will also attract more motivated candidates who are looking to develop themselves, a win win for both the company and candidate.
Saves Money / Make Money
Companies that invest in employee development are going to feel it positively affect their bottom line. The cost of hiring and training is expensive and when businesses find themselves in a cycle of high turnover, the costs can add up exponentially. Employee development helps create more skilled and efficient workers and saves businesses on the high cost of hiring a new employee to do the same job. And as employees become more proficient, the companies overall performance, sales and output will also increase, which is good for the bottom line.
Companies who strategically invest in their employees not only create an engaged workforce, but will also reap the benefits of increased productivity and reduced turnover. Employee development programs are mutually beneficial and build a strong culture that is unafraid of change and innovation, ultimately leading to the success of both employee and employer.