Did you know that employees who don’t feel engaged in their work lead to $500 billion in profit losses every year? People are more like to take pride in their work (and stay at your company) if they feel their employers care about their development. Just like you want growth in your profit margins, you can increase company productivity by at least 24% by introducing continued education into your business plan.
Not only can you improve your management processes and the general quality of what employees are producing, but you can also show your team that you care about their individual growth.
There are a lot of key benefits to introducing continuing education as a career-growth benefit. We’ve already mentioned a few, but let’s break down your prospects further:
Want to help out your HR team? Offer more employee benefits that enrich your business while actually being attractive to employees. Offer something they’ll genuinely want to take advantage of.
According to quite a few recent surveys, Millennials are the guiltiest of increasing employee turnover rates. 87% cited that opportunities for growth and professional development were the most important reasons why they chose to stay or leave a company.
Right about now, Millennials (born around 1981 – 1996) make up the bulk of the U.S. workforce at 35%. They’re followed closely behind by:
From a management point of view, it can be difficult to bridge the generational gap between these groups. But by offering continuing education, you can provide a way to invest in your employees on a level that speaks to their individual strengths and weaknesses, no matter what age group they fall in.
Happy workers are productive workers. And giving your employee the tools they need to succeed – with proper training – is a great way to make them happy.
You can help make employee performance more efficient, and improve the quality of their work, just by investing in a bit of extra training. Like through courses, books, and additional certifications to keep up with the latest methods, technologies, and trends in your industry.
This ties back in with the “employee retention” point. If you want to create a productive environment, where the people who work for you are excited to be there and give maximum effort at their job, you have to give them the right incentives.
As we said, career-growth opportunities are important, because they show you care about their personal success in life, and in your company.
Here at Digital Resource, we “eat our own dog food.”
Sounds weird, but really it just means we practice what we preach. We’ve been using several initiatives for introducing continued education to our company.
This includes the DR Classroom, where leading members in each of our departments offer a class on a hot topic in their department. It encourages employees from other departments to get together and learn about what their peers are doing to strengthen the company.
Every week, there’s a signup board with a list of classes on select topics. Our employees get to decide with class they want to take. This gives people a break from the workflow grind, while letting them be productive by learning something new, and still relevant to their own job.
All of our department managers participate in a Managers Book Club, where they’ve been reading together and picking out the gems in these books:
We also find as many courses and certifications as we can that provide quality training for each department (both for free and at cost).
You can copy our approach, or just use this as a basis for your own research. Take some time. Find out what kinds of training incentives would make sense for your company. There are so many options for increasing your employees’ knowledge base, including:
When you actually start implementing some of these ideas, here are some tips for helping them succeed:
Want to start that book club? Read those books right along with your employees and managers. Take the final exam on one of their courses and see if you can pass it yourself. Show your employees that you’re just as invested as they are in their continuing education.
Listen to what your employees have to say about the topics they want to learn about. What kind of training would they prefer?
They understand their own strengths and weaknesses. You can help them improve in the best way by finding out how they learn and retain information, and what they find the most valuable.
You don’t have to break the bank to offer some truly awesome career-growth benefits. There are plenty of free resources out there, depending on your industry. For example, as a digital marketing company, we’ve taken advantage of Hubspot Academy’s wide range of certifications and courses, 100% free of charge.
However, that’s not to say that “free” is always the answer. If you find an at-cost resource that has the tools you need to better serve your employees, you won’t be disappointed in investing in something worthwhile.
At Digital Resource, we pride ourselves on offering actionable solutions to our clients, and great benefits to our employees. If you want to learn more about introducing continued education to your management approach, contact our office today. We’ll be happy to consult with you!