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Regardless of the industry you are in, the new wave of graduates coming into the workforce will change the way you run your business. Millennials and Generation Z employees focus on growth and development, looking for work benefits that fall outside the status quo. Employee job satisfaction and work-life balance have morphed together to form employee wellness. Companies are becoming more aware of the need to nurture their workforce to grow productivity, keep clients and customers happy, and implicitly turn higher profits. Today, creating efficient employee development plans is an integral part of growing a business.
An employee development plan (also known as an employee growth plan) is a process through which you help employees improve their skills for becoming increasingly better at their jobs. It can also help an employee learn new skills to advance to a better position in your company.
If you’ve ever had to manage a workforce, you know that sometimes it can seem nearly impossible to find the perfect employee for every position. If you’re already aware of some somewhat lacking departments, creating an employee development plan could help those individuals grow, change departments, and have a better work experience over time.
Investing in your employees is always a good idea, and creating an employee development plan could be the first step towards a bright future. Here are some of the most important benefits this can bring for your company:
It will help you attract more talented applicants into your workforce
Increases employee engagement and motivation
An overall increase in employee performance (this can also be helped along with regular performance reviews)
Over time you will see a boost in your firm’s efficiency and profitability
It will improve employee satisfaction and retention
Enables you to better identify employees that deserve a promotion
Your company will be better equipped when it comes to creating plans for the future
There are also some clear downsides to incorporating this type of plan into your company. The most challenging part when dealing with an employee development program is to cater to the varying needs that employees have. The needs of each individual will have to be fulfilled using a case-by-case system if you want things to run smoothly.
Trying to create an employee development plan by yourself can prove to be quite the challenge, even more so the bigger your company is.
Make an accurate assessment of the company's needs and the needs of your employees. What departments are running smoothly and which are struggling? Is the company keeping up with the rest of the industry?
Here is a quick list with some tips that will help with creating a viable employee development plan:
This might seem obvious, but it’s essential to have a vision for your company’s future. It will help new employees figure out what skills they need to develop over the next few years. Communicating these goals to employees has increased retention.
This does not mean that you should be handholding every employee every step of the way. But an employee that feels like he’s not involved in any form of decision-making will turn into unsatisfied employee overtime. Communication is the key to success in most aspects of a business, and this is no different.
Read also: How to Personalize Employee Training and Development Strategies
This is a tricky aspect since most employees dislike regular testing. This is why you should clarify that this process is growing as a company and not an evaluation that might lead to people losing their jobs. Nobody is perfect, and acknowledging this is the first step in becoming a better employee. The sooner you implement this, the more metrics you will have to help with various issues.
The most crucial part of this entire process is ending up with a better-equipped workforce that can adapt to an ever-changing work environment. Even though the journey might seem impossible at first, simply putting in the hours, staying informed, and believing in your method are crucial elements of success. Don’t give up if you don’t see results at first. It takes a few months for the various parts to fall into place.
At Designing Digitally, we will help identify your training and development needs and create customized learning experiences tailored to those. We ensure effective training aligned with business goals, and we use xAPI in all of our courses to track results. If you are looking for a partner that can take your employee development to the next level, get in touch with our team today book a time using our Online Calendar.