Continuous development holds huge benefits for businesses, helping to increase innovation, improve loyalty and create a cultural shift.
Today's modern workforce is centred on the idea of continuous development. Employees want to upskill in as many areas as possible, all the time. This means organisations can't just focus on short-term project-based wins, but must instead look further into the future, considering how they can ingrain learning opportunities into every facet of their business. Known as a "development culture", this way of setting up a business holds many benefits for employers:
1) Encourages innovation
In such a disruptive business environment, innovation is essential for survival.
One of the core tenets of a development culture is its focus on innovation and being open to new ideas. The theory is that if employees are constantly looking for new ways they can upskill, they are more likely to become better-rounded individuals who are always seeking out new ideas. In such a disruptive business environment, innovation is essential for survival. According to Deloitte, high-performing learning organisations are 92% more likely to innovate. The message is simple - introduce a development culture at your organisation, or risk being left behind.
2) Improves loyalty and reduces turnover
Nearly two-thirds (59%) of millennials say opportunities to learn and grow are extremely important to them when applying for a job, Gallup reports. And, with millennials fast becoming the dominant cohort in the workforce, it's imperative companies find ways of meeting their demands. Organisation that offer their employees the opportunity to continuously learn new things are much more likely to retain their millennial team members. In addition, businesses can use their development culture as a marketing tool during the recruitment process, which will help to get the best talent through the door.
3) Gives employees control over their own development
The best development cultures offer employees a degree of choice over their own self-improvement. For example, they will give team members the opportunity to set their own learning goals, perhaps even offering a training budget that will pay for employees to undergo a particular course of their choice. Team members want to feel they have a say in the trajectory of their careers, and offering a learning culture is one of the best ways to contribute to this.
4) Creates a cultural shift
Culture is an extremely hard thing to nurture in a business, taking years to cultivate. Businesses that are suffering from a negative mindset may be able to use a focus on learning and development in order to create a whole-business cultural shift. Once employees feel their company cares about them and is willing to invest time and money into providing upskilling opportunities, they are likely to feel much more positive about their organisation, and this will have a huge impact on the overall culture.
Encourage a development culture with Employee Rewards and Recognition
Employee Rewards and Recognition Programmes are an excellent means of getting a development culture off the ground and ensuring continued engagement later on. By introducing rewards for undergoing training, sharing knowledge and completing certifications, you'll show your employees you really care about their development - so much so that you are investing in rewards for it.
To find out more about how an Employee Rewards and Recognition Programme can support your organisation's development culture, contact the team at Power2Motivate today or request a demo.