Why Growing Employees Is Key to Growing Your Business

Why growing your employees is key to business growth

When you develop great employees, you also position your company for growth and success. Here are some reasons why investing in employee growth helps your company thrive.

• Helps you retain workers: A company that invests in its team members has a better chance of retaining them for the long haul. Taking proactive measures to keep talented workers will help your company achieve its business goals Your progress won’t be impeded by high employee turnover, which requires businesses to continually recruit, train and hire new staff — a costly process in terms of finances and productivity.
• Builds a skilled workforce: Retaining employees isn’t enough to keep your business competitive. Your company’s growth and development must be fueled by highly skilled team members who can power your marketing efforts, increase brand awareness, supercharge sales, handle finances responsibly, provide excellent customer service and much more. Depending on your industry, even more specialized skills will be required to propel your business forward and keep it competitive. When you invest in employee growth, you help create the skilled workforce you need to take your organization to the next level.
• Increases customer satisfaction: A customer’s experience with a staff member can make or break your business. Your employees are the key to satisfied and motivated customers and business growth. Well-trained and supported team members will provide top-notch customer service and elicit excellent customer reactions. Happy customers may provide positive online reviews and are likely to refer your business to friends and family. Additionally, you’ll earn repeat business from loyal customers, boosting the revenue you need to fuel your growth.
• Enhances creativity and innovation: Investing in employee growth creates an ideal environment for creativity and team innovation. When employees learn and develop new skills, they’re better at creating unique products. They can also look at your business processes and challenges with new eyes and create innovative solutions. Introducing new products, improving existing products and breaking into entirely new markets are excellent ways to grow your business. 
• Boosts productivity and profitability: Employee development is linked to improved productivity, which is great for business. Increased productivity goes hand in hand with improved profitability, thanks to higher output, recruitment and onboarding savings, innovative solutions and more. Your boosted revenue will fund your growth plans.

Too many companies today ignore the importance of growing their employees. They experience high turnover and can’t gain the support they need to take their operations to the next level. In contrast, businesses that prioritize employee growth enjoy sustainable operational growth that produces results both now and in the future. The healthiest companies are those where turnover is the exception, not the rule.

Tips for growing your employees and your business

Caring for employees, prioritizing their needs and supporting their careers by offering professional growth opportunities will help you grow your team and enjoy a smoother path toward business growth. Here are five tips for growing your employees and your business.

Create career paths that encourage long-term growth.

Instead of viewing your hiring process as a talent grab, consider it an opportunity to create an alliance. When you interview a candidate, ask about their aspirations. Although you want to determine if they will align with your company culture, you should also figure out the best ways to support them on their professional journey. Ask about what they want to learn, what they enjoy, and what their five- and 10-year plans are. Then, look for actionable ways to fulfill their professional needs.

By creating mutually beneficial relationships with prospective employees, you’ll find people who will support your customers, thrive in your company culture, and allow you to invest in their career and life goals. When this type of alliance is established, employees are motivated to stay and live out their long-term career plans at your company.

Show your appreciation for employee commitment and growth.

Employee appreciation should be embedded in the culture of any growing company. While you should have an employee recognition program for significant achievements, employee appreciation goes beyond celebrating high performers or those working on flashy projects. True work life isn’t all glitter and positivity; business success often means working hard through good and bad times.

Create an employee-centric company culture that thanks employees for their daily perseverance, especially those who have worked through a challenging project or a difficult period in the company’s history. One easy way to show appreciation to your employees is to ask them how the company can thank them or provide them with their preferred incentives.

Establish consistent communication and goal setting with employees.

It’s in your best interest to build an environment that caters to personal milestones and longevity within your organization. Communicate consistently with employees to help them understand the long-term strategic advantage of staying with your organization. Ensure that managers keep an open line of communication with employees to understand their career goals, provide pathways to achieve those goals, and deliver informal feedback when necessary.

Moreover, employees’ quarterly goals should include professional development and training to ensure everyone sees progress. For example, you can offer virtual career training through a learning management system, encourage an employee to attend a conference, or supply outside training to propel them to the next level. When employees see that an employer is willing to invest in their future, they’ll invest more in the company’s future.

Train employees on the latest productivity-enhancing technology.

Your employees may be happy and highly motivated, but they won’t reach maximum productivity unless they understand and work with the latest productivity-enhancing technology, including well-maintained computers, laptops, tablets and high-end software. High-tech tools can help your staffers get more done in a fraction of the time, allowing them to turn their attention to growth-oriented projects and develop ideas to spur company growth.

For example, implementing and training your staff on the best CRM software can help them generate more leads, address customer pain points, and design more effective marketing campaigns.  

Most employees don’t enjoy repetitive, menial tasks; they prefer using their higher-level skills while at work. These skills will also drive the company toward achieving its growth goals. 

Fund employee certification and degree programs.

Few things are more attractive to a motivated young professional than an employer that’s willing to pay to further their education. Some businesses have tuition assistance programs to help team members get their college degrees. With high college tuition costs putting a college education out of reach for millions of high school graduates, this perk can draw employees who will remain hardworking, productive and loyal. 

Many employees would also appreciate the opportunity to pursue professional certifications, including the following: 

• General business certifications
• Digital marketing certifications
• IT certifications
• Accounting and finance certifications

Supporting employee education and professional growth is a win-win: You’ll improve recruitment efforts, morale and loyalty while cultivating a skilled workforce that can help your company grow. 

Jennifer Dublino contributed to this article.