Use Professional Development to Motivate and Retain Top Talent
First published on June 9th, 2011
Many organizations believe that increasing salary is the most effective way to retain their stellar performers. Although higher salaries might keep employees at their jobs, it is not a cost-effective solution for employers. To help staff members remain content without maxing out budgets, companies can devote time to staff development and education.
Employees stay in their positions when they believe they are accomplishing their goals and advancing in their careers. Showing serious interest in the development of your staff demonstrates to employees that they are essential in achieving success for the company. Support within management to invest in workforce coaching will help your organization attain a lower turnover rate and strengthen employee morale.
The entire organization benefits when time and resources are allotted to professional growth and job preparation. Employees are satisfied and become more productive, which leads to increased efficiency and greater revenue. Here are a few tips to promote the growth of your team members:
- Help staff set goals. Have employees evaluate their responsibilities to determine their strengths and weaknesses prior to setting goals. Help them establish obtainable goals that align with their interests and strengths to support success. Goals should be measurable, and a timeline can track progress. Personally praise employees when goals are achieved.
- Inform employees on training opportunities. Alert staff of different training and educational opportunities that benefit their position, and encourage them to participate. Offer to sponsor their attendance for different activities, such as conferences and seminars. If sponsoring is too expensive, partial payment still exhibits your vested interest in their career.
- Encourage membership in professional groups and associations. Organizations relevant to employees’ positions allow them to network with similar professionals, learn best practices and even gain new clients. To help facilitate their involvement, consider providing them annual stipends to partake in group activities related to their fields or reimbursing membership dues and other fees. Provide flexibility in scheduling and options to work nontraditional hours to allow employees to attend events as well.
- Recognize training progress. Employees need positive reinforcement when they continually perform their duties well. By attending training sessions, they invest in their career development as well as benefit the organization, so it is important to acknowledge their efforts. Take time to discuss what they learned from their experiences, and advocate that they integrate new knowledge into their responsibilities. Congratulating team members on earning certifications also promotes company loyalty.
Members of management should consider training options for themselves as well in order to set positive examples for all employees. Company leaders should also explain the value of continual education and professional development during staff gatherings or one-on-one meetings.
For more information on staff development and professional training, please contact a member of CAI’s Advice and Counsel Team at (919) 878-9222 or (336) 668-7746, or ask for an account manager to discover the different training options CAI offers.
Photo source: lumaxart
Acknowledgements: http://blog.capital.org/
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