Seasoned business owners know the importance of developing homegrown talent within their organization. Investing in training and improving your people will improve your culture, productivity, and ultimately, your bottom line. So how should an organization go about ensuring their people are moving forward and not stuck in neutral? Here are four simple ideas businesses can incorporate to help their employees grow professionally:
Provide a professional improvement plan for each employee.
Most workers are happiest and most productive when they understand their future career path within an organization. Implementing professional development plans for your employees will help you monitor their progress, find the best fit for their skillset, and ensure that they are developing the skills that will allow them to bring value to the organization.
When an employee becomes more valuable to your organization, reward them for their improvement. Both monetary and non-monetary rewards can work, but be sure that improved responsibility and performance are rewarded with additional compensation. And don’t be afraid to publicize the rewards provided.
Match increased skills with increased responsibility.
Continue to challenge employees to improve. You’ll quickly find out which employees are motivated to rise to the challenge. Once you identify these individuals, it should become a priority to continue to provide them with opportunities to advance.
Implement a mentoring program.
Well-designed mentoring programs can help younger employees find their way to success within the organization. Don’t have too many levels of advancement between the mentor and the mentee. It is important for the mentee to be comfortable communicating and relating to their mentor. Allowing employees to select their own mentor has been shown to be successful in many organizations.
We see unique and effective solutions to professional improvement and training from many of our clients. One thing is consistent – businesses that understand and focus on the development of their people are much more likely to find sustained success than those who do not.
If you’ve got a professoinal developement plan in the works but are now wondering how to financially implement it, schedule a free consult with one of our financial specialists. We love coming up with original plans that propel businesses forward.