A RECIPE FOR BUSINESS SUCCESS AND SUSTAINABILITY
The importance of developing your employees
Just like chocolate chip cookies need sugar , flour and eggs , your business needs a product or service , customers and employees . But many businesses are missing a key ingredient in their recipe for success and sustainability : employee development .
Yes , employee development costs money . And yes , there are dozens of other important areas in your business that need your attention . But if you don ’ t make an investment in employee development , you ’ ll miss out on one of the most effective ways to drive business growth .
Tips For An Effective Employee Development Program
Employee development is a top priority for our firm . And having recently overhauled our own employee development program , we ’ ve learned a thing or two . If you want to implement such a program in your company , here are some key ingredients we recommend you add to the mix :
• Make sure someone owns it . We tapped a firm leader to create and execute our employee development program . She has full ownership of it . Even if your company can ’ t sustain such a position full-time , it ’ s crucial you make sure that someone is charged with overseeing your efforts .
• Have a plan . Outline the areas in which you want to develop your employees , and be sure to include any required training or education . Remember that leadership and soft skills development are just as important – if not more so – than technical curriculum .
• Never stop giving feedback . Regular , timely feedback is absolutely critical to employee development . Create a performance management program that includes goal-setting and regular performance evaluations , as well as upward evaluations so that your employees can evaluate company leadership too . We also host an annual training for our performance coaches to hone their skills and ensure that our coaches are conducting evaluations under the same set of standards .
• Fill the pipeline . Partnering with local parochial schools , high schools and career centers may be a great way to find good , talented employees early in their careers . Some schools offer work release programs , and getting involved in these programs may also be a great way to test out potential employees .
Employee development should be top of mind every day . If it ’ s not , you run the risk of your employees going elsewhere . And if you can ’ t keep good employees , you probably won ’ t be able to keep good customers , either . As you ’ re planning , budgeting or forecasting for the year ahead , consider how you can incorporate employee development into your business . quick , cost-effective ways to implement employee development
You may be thinking there ’ s no way in the world that you have time or money to devote to employee development . But you have options . Consider benchmarking against organizations that have successful employee development programs . Here are some other possible solutions :
1 . Check out local resources , such as nonprofit organizations , public schools and libraries , to see if they offer free programs .
2 . Research statewide programs that offer financial assistance for training and development . Eligible Ohio businesses can apply for the Ohio Incumbent Workforce Training Voucher Program and can potentially be reimbursed for any training programs employees participate in .
3 . Gather your employees together for company-led training and development . by : Dustin Raber
CPA , CMP , Principal ( 330 ) 521-4534
545 N . Market St . Wooster , OH 44691 dustin . raber @ reacpa . com