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