What is employee development?
Employee development is a joint effort between organizations and employees to ensure there are opportunities for individuals to learn new skills, refine existing skills, and build knowledge and experience. Investing in employees not only leads to more engaged and productive workers, but also higher loyalty.
Why is employee development so important?
The Center for Creative Leadership found that most people learn 70% of what they need to know on the job, 20% of what they need to know through feedback, coaching, role models, mentors, and 10% of what they need to know through formal training.
Effective employee development plans can help your organization boost morale and engagement, retain organizational memory and expertise, and build alignment between employee and company goals.
That means developing employees is not only key to retention and productivity but also to creating a strong and engaged workforce that will help you attain your business goals.
If you spend the same amount of time and energy developing people as you do on budgeting, strategic planning and financial monitoring, the payoff will come in sustainable competitive advantage.
Larry Bossidy and Ram Charan, 2002
Keys for success
Implementing or improving an employee development program can be intimidating. That’s why we’ve collected resources, including white papers, eBooks, templates, case studies and blog posts to help you map out a plan for developing your employees’ skills.
Strategy: Your people are your company’s biggest asset, and developing their skills are one of the best strategies for business success. Discover how to bring out the best in your employees’ performances, and help them gain skills and experiences that will benefit their career as well as your business.
Linking learning and performance: does your talent measure up?
As organizations sharpen their focus on ROI, the emphasis has changed from how good the training is, to how well the training is used to improve performance. This webinar explores how to align individual goals with strategic company goals, leverage managers’ coaching skills, and how to manage the integration of performance and learning with technology.