All over the world experts have always argued that the greatest asset a company possesses is its employees. According to the International Labour Organization report of 2016, the companies that engage in employee development always realise an increase in performance and their profits double compared to those that focus on other factors to improve productivity.
The report further reveals that investing in employees’ professional development is vital for team retention. Study reveals that 94 per cent of employees would always stay at a company longer if it invested in their career development. The report also reveals that companies always incur huge losses when replacing talent more than retaining the employees they originally employed.
Human resource experts argue that the sharpening skills of the employees is a new trend worth considering since it comes with benefits.
According to Faith Kimani, a consultant with Competitive Dynamics International, the job sector is changing as both employees and employers battle for better terms.
“Today we live in an ever-changing world where time is money and budgets are tight. People no longer choose a company to work for over their entire careers. Companies are always looking for new employees and seeking competitive advantages over their competitors,” she says.
She says that most companies overlook the on-the-job training which increases effectiveness and service delivery.
“One of the most overlooked advantages of most companies is employee engagement, training and development. When a company makes sure its employees are up to date on the latest technical information or the latest operational data, employees tend to increase their productivity and are more likely to maximize their value.”
She further explains that employee training and development is a term often used interchangeably, across sectors, and encompasses various employee learning practices. That more specifically, training involves programmes which enable employees to learn precise skills or knowledge to improve performance.
According to Kimani, companies ought to focus on development programmes which involve more expansive employee growth plan, for future performance rather than immediate career role improvement.
She says: “It’s a very effective way of running your business as it engages the heart and mind of every team member enabling them to run the business as if it were their own. Since performance is being visually managed everyone strives to make sure their team's performance is within or above target.”
Gallup data reveal that as the business landscape becomes increasingly competitive, improving your team’s performance is imperative within evolving markets. Employee development and training is no longer an additional perk reserved for the C-suite, it’s essential for the growth of any business and the workforce that propels it.
“Recognising new skills and ways of learning will help a company evolve and innovate for the future. The other thing is the need to merge contemporary technological platforms with creative learning methods to ensure that teams learn dynamically, through a future-oriented approach,” says Kimani.
She notes that with the growing economies, stable political environment, and an open East African Market, the future looks brighter for most companies, however, they should tap into employees' training for effective results and increased engagement.
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