You’ve invested in state-of-the-art equipment. You’ve hired top-notch consultants to eliminate bottlenecks from inefficient processes. And you’re all set to dominate the market. 

As you try to gain that elusive competitive edge, however, you might be overlooking one crucial area. Most businesses account for technology and process improvements. But only the smartest realize that investing in the growth and development of your employees can have a significant impact on workplace productivity and overall business success. 

According to a study by the Harvard Business Review, 94% employees claimed they’ll stay with the company for longer if sufficient investments were made on their career development. 

Moreover, companies that invest $1500 or more on personal and professional development per employee have reported 24% higher annual profits. 

Today, we will explore 5 reasons why employee development is the key to workplace productivity. 

What is employee development?

Employee development is the process of helping employees improve their skills, knowledge, and abilities to become more effective in their roles and advance their careers. This can include a wide range of activities, such as training programs, coaching and mentoring, job shadowing, conferences and workshops, and other forms of learning and development opportunities.

Why is employee development important for higher workplace productivity

From improved employee engagement to increased job satisfaction, we will show you 5 ways how investing in your team can pay off in big ways. 

1. Employee development leads to improved skills and knowledge

When it comes to hiring, every recruiter wants to find talented workers who bring valuable skills and knowledge to elevate their team’s productivity. That's why they put so much effort into the recruitment process—from writing the most engaging candidate outreach emails and LinkedIn requests to ensuring hassle-free onboarding. But did you know that the real skill and knowledge improvement for employees starts only once they become a part of the team?

Of course, it's crucial to bring in the right people in the first place. Tools like Criteria Corp have made the recruitment and screening process a lot more efficient. However, some of the best Criteria Corp alternatives available presently take it a notch higher and give you end-to-end recruitment assistance.

Once you have the right team in place, the next step is employee development. Through training and development programs that take place both on and off the job, employees can upskill and be more effective in their roles. This leads to faster and higher quality work, which ultimately boosts productivity.

That's why it's crucial for companies to actively support employee upskilling. This involves creating a culture of learning in the workplace and implementing policies that encourage professional development.

2. Employee development increases job satisfaction 

One of the biggest perks that companies, especially newer enterprises and startups (including OSlash), have started offering employees today is access to world class learning materials on renowned platforms such as Coursera, EdX, O’Reilly, and others. 

Thanks to such initiatives, employees feel they are growing and developing in their roles. As a result of improved confidence and competence, they are more likely to be engaged, motivated, and satisfied with their work.

Employees who feel that their employer is invested in their development are more likely to feel valued and respected. This further contributes to job satisfaction.

Employers can promote employee development in a variety of ways. Here are some examples: 

1. Provide training and development opportunities: Offer workshops, courses, and other training programs that are relevant to employees' roles and career goals.

2. Encourage mentorship and coaching: Pair employees with mentors or coaches who can provide guidance and support in their development.

Recommended reading: How pair programming saved Google

3. Provide opportunities for job rotation or cross-training: Allow employees to gain experience in different roles or departments, which can help them develop new skills and broaden their perspective.

4. Provide regular feedback and recognition: Provide feedback to employees on their performance, recognize and reward their achievements, and consider giving employees gifts to show your appreciation.

5. Support ongoing learning: Encourage employees to continue learning and developing outside of work by offering resources such as books, podcasts, or conferences.

3. Employee development ensures better communication and collaboration within teams

Employee development can be a real game-changer when it comes to communication and collaboration within teams. Well-trained employees develop a greater and clearer understanding of their own roles, can predict the impact of their actions on team outcomes, and develop strategies to collaborate most effectively. 

For example, let's say you have a team of developers working on a new feature. Each developer has their own area of expertise, but they might not always know what their teammates are working on. This can lead to miscommunications and delays.

By providing training and development opportunities, you can ensure that each team member has a broad understanding of the project. This can lead to better collaboration, faster problem-solving, and ultimately, a better end product.

Another example could be a team of customer service representatives. By providing communication training and customer service skills development, you can help them work together to create excellent customer experiences. They can share tips and strategies with each other, collaborate on challenging cases, and create a more positive and supportive work environment.

‍Recommended reading: 40+ customer service live chat script examples and templates for your busy executives

4. Employee development helps retain the best talent 

In today's job market, simply offering competitive salaries is not enough. 70% of employees are relatively inclined to quit their current job to work for a company that invests in employee development and learning. When jobseekers see that a company values employee development, they are more likely to see it as a desirable place to work.

The best example is perhaps Amazon, the second largest employer in the U.S., which in early 2022 announced a partnership with 140 colleges and universities to offer free college tuition to its approximately 750,000 employees. No wonder it ranks first on LinkedIn’s annual report on the 50 best workplaces to grow your career in the U.S.

By investing in employee development, organizations can create a win-win situation for both employees and the company. Employees get the chance to grow and advance their careers, while companies benefit from a more skilled and committed workforce. In the long run, this leads to improved job satisfaction, reduced turnover, and increased competitiveness in the marketplace.

5. Employee development fosters innovation and creativity

Employee development is an essential ingredient in building a creative and innovative team. By offering opportunities for growth and learning, you can help your team members develop new perspectives and skills, which can spark fresh ideas and solutions.

Let's say you work at a design firm. You might have a team member who's already an expert in graphic design but is interested in learning video editing. By providing them the necessary lessons, you'd not only help that employee grow their skills, but also broaden their knowledge base. As a result, they might become a valuable in-house resource for video production for your company in the future, eliminating the need to outsource it.

It's kind of like adding spices to a dish—each new ingredient brings a unique flavor and depth to the overall flavor profile. And just like how a chef constantly tweaks their recipes to create something new and exciting, encouraging employee development can help your team develop fresh approaches that keep things interesting.

Here are some ways that employers can promote innovation and creativity through employee development:

• Provide workshops, seminars, and online courses that help employees develop their critical thinking, problem-solving, and communication skills.
• Provide employees with tools to bring new ideas to the table.
• Provide opportunities for employees to collaborate on cross-functional teams.
• Encourage participation in brainstorming sessions.
• Foster a culture that values teamwork and encourages employees to build on each other's strengths.

Such employee development initiatives will help employees feel confident and knowledgeable, encouraging them to take risks and try new things. It eventually leads to the development of new products, services, and processes that can set a company apart from its competitors.

Investing in employee development is a win-win for both employees and employers

According to 90% of HR managers, training benefits employee productivity and development. 

It’s safe to conclude that by providing opportunities for growth and development, companies can improve job satisfaction, increase skills and knowledge, promote collaboration, retain top talent, and foster a culture of innovation. 

All of these factors lead to a more productive workforce and ultimately, a more successful business.

Make time for employee development with OSlash text expander & custom keyboard shortcuts

If employee development is so important, why do companies fail to make the most of it? In a 2022 Valamis survey, nearly half the workers cited lack of time as their company’s biggest challenge for making room for employee learning and development programs. 

When there are tight deadlines to meet and high KPIs to achieve, learning can often take a backseat. The solution?

A productivity compounder that can help employees (and leadership) free 30+ hours every month—OSlash. 

OSlash is a text expander and custom keyboard shortcuts app that can help everyone 

- find workplace resources without wasting productive hours in the search
- transform complex URLs into human-readable shortcuts such as o/new-doc, o/roadmap, o/budgets etc.
- insert repetitively typed text with just a few keystrokes instead of typing or copy-pasting it over & over
- maintain a central repository or knowledge base that acts a single source of truth for important resources and eliminates confusion

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OSlash makes all the information you need available at your fingertips. It helps you get more things done in less time. All this time saved can then be invested in employee development and upskilling—to lend your business the formidable speed, productivity, and competitive edge it deserves.

Try OSlash today! It’s free to get started.