Personal employee development holds significant importance, not only for the employees themselves but also for the organization. Making the right investment in employee development ultimately leads to increased employee engagement and retention. Simultaneously, it contributes to fostering a positive organizational culture, thereby enhancing growth and performance. Fortunately, many organizations recognize the importance of investing in employee development. But where should the focus be? An online training portal? Workplace mentoring? Customized coaching programs? An employee community provides a means for organizations to effectively listen to employee needs in this regard and serves as the platform to empower your employees to have a voice.
The significance of employee development
According to the "Global Talent Trends Report 2022" by LinkedIn, 59% of employees consider professional development to be the most crucial area in which their employer should invest to enhance company culture (LinkedIn, 2022).
By investing in employee development and fostering a culture of continuous learning, employers can nurture a positive corporate culture and empower employees to realize their full potential. It offers employees the opportunity to advance in their careers, take on new challenges, and continually enhance their skills and knowledge. This not only boosts their confidence and job satisfaction but also deepens their engagement with the organization.
Why Investing in employee development matters
Numerous studies consistently demonstrate that investing in employees yields significant benefits for organizations.
Firstly, providing relevant development opportunities assists employees in growing and retaining talent within the organization. This stands in contrast to the costs associated with turnover, such as revenue loss, recruitment, and training of new employees.
Furthermore, investing in development positively influences employee engagement and loyalty. Data from the "Importance Of Employee Development Report" by CultureAmp reveals that employees with access to various learning and development opportunities they need are 21% more engaged than those who do not, resulting in higher employee retention (Culture Amp, n.d.).
Employee Community: Understanding your employees' needs
The fact that investing in development primarily yields benefits is now evident. The question is how to implement this within your organization, tailored to your organizational structure and the desires of your employees.
It begins with listening to your employees, and we offer a compelling solution for that: an employee community is a platform where employees can provide feedback.
It aids organizations in effectively understanding the developmental needs of their employees and serves as the platform to empower your employees to express themselves. This enables organizations to respond to employee needs and enhance engagement.