Businesses that prioritise developing their existing members of staff over hiring from outside generally benefit from higher rates of employee retention. Employees feel the benefit of working for a company that invests in their personal and professional development, as well as the presence of a clear career path in the business.
Here at Team Challenge Company, we believe in helping employees realise their potential which, in turn, benefits the business on a long-term basis. The leaders of tomorrow start from the bottom and work their way up the corporate ladder, although, often, many feel as though they have to seek development opportunities elsewhere as the door remains shut in their current place of employment.
Do not allow talented employees to leave your company in search of better opportunities, potentially strengthening your competitors in the process. The benefits of staff training and development are clear - from the perspective of both the employee and the business.
Creeping complacency can quickly spread even throughout the best members of staff when they become comfortable in their roles and aren’t being professionally pushed. Career development opportunities for staff provide a chance for employees to grow as they take on extra responsibilities, adding variety to their day.
When employees outgrow their role within the company with no sign of progression, one of two things normally happen. Either they stop pushing themselves and go through the motions, doing the minimum of what is required on a day to day basis, or they look to further their career elsewhere.
While it can be tempting to want to look outside of the business when hiring for a senior position in search of someone with years of experience already underneath their belt, it can be demotivating for long-serving members of staff not to even be considered. After all, they know the company, the processes in place, and the people, and there isn’t much of a bedding-in period compared to that of someone new coming in.
Promoting from within sets a positive message to all members of staff that opportunities are there for those that want them. One of the clear advantages of training and development of employees is that it sets them up and provides them with the tools required to further their career, as well as helping the company to understand who amongst the team is ready to take the next step up.
Finally, it makes commercial sense for the business to invest in its members of staff.
Hiring externally often costs more money in the long term as candidates are in a position to negotiate better packages for themselves, as well as the time it takes to train new starters and see them settle into their roles. Also, if the hired candidate chooses to leave within their initial probation period, the whole recruitment process has to start again.
As well as looking at existing staff for internal promotions, developing current employees also allows you to improve performance and proficiency that affects the overall performance of the business.
If the business overall is not hitting targets, then the reasons why need to be identified and addressed accordingly, and naturally, this can sometimes lead to jobs being at risk. When staff is properly trained and given the correct support throughout their employment, however, the business is less likely to have to look internally at why targets are not being met, thus reducing the need to recruit new staff.
Team Challenge Company recognises the benefits of employee training and development programs, which is why our team is on hand to offer events that can be tailored to your business’ requirements. From small, intimate programs to large-scale events, we guarantee that you won’t regret calling on the help of our team for your team building needs. Contact us today.