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Why Invest Time In Your Staff?

By Sonya Buck, Australia


Running a business or leading an organisation is an enormous juggling act, with multiple responsibilities needing ongoing attention. One area which requires focus is staff, particularly when this can impact your profitability and day to day operations.


Why invest time developing your staff?


Employee Retention


There is a real cost in both time and money in recruiting and training new employees, so why not keep the great employees you have by developing and nurturing your current staff?


For instance, to prove the importance of adequate training, a study performed by the Dale Carnegie Training Center states 40 percent of poorly trained employees end up leaving their companies within their first year on the job.


Attracting the best


When looking to hire people, consider presenting all of the great benefits that you offer – things that they might not be getting if they choose to join one of your competitors.


By gaining a great employer reputation, the best candidates will be attracted to your organisation.


Assists promotion from within


Ongoing training and development of your employees allows you to promote from within. Who else knows your customers and business better than a current employee. Besides that, studies* suggest that performance of external managerial recruits is much worse than those promoted from inside the organisation. (*Wharton University, Pennsylvania)


Assists engagement


Bored employees may adopt bad attitudes which in-turn may be passed on to other staff and damage relationships with your customers.


So important is employee engagement, some larger companies have personnel who specialise in this area for their company.


Investing time in your employees does not need to be limited to training, spending time recognising your staff achievements and showing appreciation goes a long way to fostering positive relationships.


We often hear today that workplaces have a high turnover of staff and ‘it just isn’t like the old days’ when our parents and grandparents stayed in the one job for life. But, addressing employee development is just another way to assist retention and foster great employee relationships which can be long lasting.