How developing entry-level employees fuels organizational success
59% lower turnover rates
34% increase in employee performance
84% more likely to have strong leadership pipelines
Investing in employee development is not just a strategy for retaining top talent; it's also a crucial element in the growth and success of your organization. When it comes to entry-level employees, providing opportunities for growth and learning is especially vital. Here are the top three reasons why employee development at the entry level should be a high priority:
1. Building a Skilled Workforce
Most people who are in entry-level roles are in the early stages of their careers and are eager to learn and grow. By investing in their development, you build a foundation of skills and knowledge within your organization.
Many companies provide brief, job specific training and hope that their frontline support managers will be able to properly nurture and develop their individual employees. Unfortunately, many of these first time leaders in manager roles aren't able to sufficiently develop their team members in the ways needed. They can be great mentors and recommend options for professional development opportunities.
According to a study by LinkedIn, companies that prioritize employee development see a 34% increase in employee performance. This not only helps them excel in their current roles but also prepares them for more significant responsibilities in the future. A skilled workforce is a valuable asset that can adapt to the evolving demands of the business world.
Reference: LinkedIn Learning, "2019 Workplace Learning Report."
2. Increasing Job Satisfaction and Retention
Entry-level employees who feel that their employers are committed to their growth are more likely to be satisfied with their jobs. Whether your organization offers a professional development stipend or not, encouraging your team members to prioritize as little as 30-minutes each week to professional development can make a big impact.
If your organization is hiring A-Players and high performers, it's imperative to continue to pour into them based on their individual desires for growth.
A Gallup survey revealed that organizations with engaged employees have 59% lower turnover rates. They appreciate the investment in their future and are motivated to contribute their best efforts. As job satisfaction increases, so does employee retention. When your entry-level talent sees a clear path for advancement and experiences ongoing development, they are less likely to seek opportunities elsewhere, reducing turnover rates and associated costs.
Reference: Gallup, "State of the American Workplace Report 2017."
3. Nurturing Future Leaders
Every organization needs a pipeline of future leaders. Entry-level employees are the foundation upon which you can build your leadership team. By providing development opportunities, mentorship, and training programs, you identify and nurture individuals with leadership potential.
Not all companies have in-house development programs. When leaders are able to work with their team members in their 1:1s to understand what type of programs and development opportunities might be beneficial outside of the workplace, this is what helps to nurture these future leaders.
According to a report by Deloitte, companies with leadership development programs are 84% more likely to have strong leadership pipelines. Over time, these employees can grow into key roles within your organization, driving its success and continuity.
Reference: Deloitte, "Global Human Capital Trends 2016."
If your organization is looking for ways to help your team members prepare for future leadership roles, you'll want to check out the Future Leaders Program where your team members can learn the soft skills needed to stand out as leaders before they get promoted, helping them to be more prepared to grow into their first leadership role.
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