There is always room for improvement, and investing in your team is never a waste of budget. Staff development is crucial not only to developing your team’s skills but boosting morale. Here are 3 reasons to invest in staff development in 2024:
Companies that invest in comprehensive staff and leadership development have a 24% higher profit margin
That’s right—the more time, money, and resources you invest in your team, the greater the profit! When team members don’t possess the skills necessary to perform their jobs, they struggle to meet performance expectations, which ultimately impacts the organization’s ability to achieve its long-term goals.
By developing your teams and leaders, you can resolve skill gaps and work more efficiently, generating more revenue and turning a greater profit.
Companies that invest in staff development see a 58% increase in retention
Employees often leave organizations that don’t invest in them professionally for better opportunities that will allow them to develop their skills. Employees only stay where they feel valued.
Investing in staff development not only benefits the organization’s productivity and revenue, but also shows employees that organizations care enough to provide the support they need to reach their full potential.
92% of employees say that well-planned training programs positively impact their engagement
Your team may show up every day and perform daily functions, but are they actually engaged in their projects and training? It’s one thing to implement adult learning solutions, but it’s another to implement well-planned, engaging solutions that allow team members to optimize their learning experience.
Engaged learners retain information easier and have a better understanding of how to apply their new skills in their existing roles.
Interested in learning more about staff and leadership development? Romar Learning Solutions specializes in adult learning for leaders, sales representatives, medical professionals, matrix teams, trainers, customer service representatives, and more. Contact us today!
Sources: Zippia, ClearCo, ShortLister