When I joined Lemonade Stand, I was looking for a flexible job that would put me through college. I wasn’t expecting the job to redefine my ideas of corporate life and community.
But almost three years later, my experience at Lemonade Stand has not only made me a better marketer, but a better person. Want your company to do the same for your employees? The answer is employee development.
How Do We Define “Employee Development”?
Employee development is a broad term that covers activities and strategies aimed at enhancing the skills, knowledge, and abilities of employees. It can include formal training programs, on-the-job learning opportunities, coaching and mentoring, job rotations, and even self-directed learning.
The goal of employee development is to not only improve individual performance but also contribute to the overall growth and success of the organization.
In non-business speak, employee development is all about investing in your employees and helping them reach their full potential. It’s a win-win situation for both the company and its employees. Here is how Lemonade Stand has implemented employee development.
- Open door policies with the executive team to talk about advancement
- Monthly, quarterly, and yearly check-ins with managers and exec team members
- Easy opportunities to move teams and learn new skills
- A focus on internal hiring instead of external
- Consistent reminders of the company core values
- A software that has operationalized our core values and helps build team member and community bonds
Why It’s a Win-Win
When employees grow, the organization grows with them. Let’s break down how this symbiotic relationship works.
Boosts Morale
First, investing in employee development boosts morale. Employees feel valued and appreciated when they see that their employer is willing to invest in their future. This, in turn, fosters loyalty and reduces turnover rates.
Increases Productivity
Second, well-trained employees are more productive. They have the skills and confidence to tackle challenges head-on, leading to improved performance and efficiency. This productivity boost translates into higher profits and a stronger competitive edge for the organization.
Fosters Positivity
Lastly, employee development cultivates a positive workplace culture. It encourages continuous learning and innovation, which can lead to breakthrough ideas and solutions. A culture that promotes growth is also more attractive to top talent, helping you build a team of high-performing individuals.
So, why is employee development important? It builds happier employees, which creates happier revenue. Happier revenue helps you to treat employees better, make more money, and create a more successful business.
Why Is Employee Development Important?
Understanding the importance of employee development is crucial for any business looking to thrive. Here are some compelling reasons why it should be at the top of your priority list.
Enhances Employee Retention
One of the most significant benefits of employee development is improved retention rates. Employees who feel stagnant are more likely to seek new opportunities elsewhere. By providing avenues for growth, you show your team that you are invested in their career progression, making them more likely to stay long-term.
Boosts Engagement and Productivity
Engaged employees are productive employees. When individuals feel that their job is contributing to their personal growth, they are more likely to be motivated and committed. This heightened engagement leads to increased productivity, higher quality of work, and better overall performance.
Prepares Employees for Leadership Roles
Succession planning is vital for organizational stability. Employee development programs help identify and cultivate future leaders within your organization. By equipping employees with the skills they need to take on leadership roles, you ensure a seamless transition when current leaders step down or move on.
Keeps the Workforce Adaptable
The business world is constantly changing, and organizations need to adapt quickly to stay relevant. Continuous learning ensures that your workforce remains agile and capable of navigating new challenges. This adaptability is critical in maintaining a competitive edge in a fast-paced environment.
Improves Employee Morale
A happy workforce is a productive workforce. Development opportunities can significantly boost morale by demonstrating that the organization values its employees’ growth and success. High morale leads to a positive work environment, reduced absenteeism, and increased collaboration.
What Was That Employee Development Software You Mentioned?
Build Then Bless is a fintech platform powered by culture and community, designed to empower employees through meaningful giving and personal development. It offers a comprehensive approach to employee development, focusing on both professional and personal growth. You can check out the employee development program to learn more.
Comprehensive Features of Build Then Bless (BTB)
Here are some of the key features that make BTB an excellent choice for employee development:
- Work Anniversaries and Birthdays: BTB tracks important dates, ensuring that employees feel recognized and appreciated.
- Career Milestones: Celebrate significant achievements and encourage continuous progression.
- Gift Ideas: Access to thoughtful gifts from top vendors to reward and motivate employees.
- Community Engagement: Employees can share stories and experiences, fostering a sense of belonging and camaraderie.
- Debit Card for Company Funds: Empower employees to use company funds for acts of giving, reinforcing your company’s commitment to philanthropy.
- Event Notifications: Stay informed about upcoming events and important dates to ensure timely acknowledgments and celebrations.
- Build Trust: The BTB widget on your website can inspire potential employees and clients, showcasing your company’s commitment to employee development and values.
By integrating such comprehensive features, BTB not only enhances professional growth but also cultivates a supportive and appreciative workplace culture.
Want to see how Build Then Bless could work for your company? Sign up for a demo and experience the power of employee development firsthand. Remember, investing in your employees is an investment in the success of your organization.
