ERISA wrap provider, Clarity Benefit Solutions, gives insight into learning and development as a win-win benefit.
Workforce development is a subject that some companies do not make a priority. Given today’s highly competitive job market, this could be a mistake. Companies that pull out all the stops to attract and retain top talent need to make an investment in their career development. Investing in an employee’s education and growth is clearly a win-win for both parties. Employees have the opportunity to fine-tune their skills and grow, and employers benefit from employees that are better able to carry out their tasks. The following are additional benefits to employee education and career development.
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Employers can utilize educational assistance to leverage recruiting efforts. Potential and current employees not only have a sense of belonging, they sense that the company is invested in their growth—and success. Specialized training programs are mutually beneficial and foster a sense of high achievement and teamwork. Using an online training platform is an effective tool to further streamline the process, and an added benefit is that it allows employers to track employees’ progress.
Learning and development initiatives also result in higher levels of productivity. After all, motivated employees are more engaged and thus more efficient at their jobs—which means more profit. This can also result in a company’s reputation being elevated. In this scenario, everyone is a winner. Management meets their short-and long-term goals when it comes to employee development. Additionally, employees are kept current with the latest industry trends and technologies.
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Taking this concept one step further, companies that are fully invested in learning and development initiatives that are in alignment with their business goals will realize success when everyone is on the same page. When challenges arise, businesses are better equipped to tackle them and formulate a plan for continued success. Investing in employees’ career development is the recipe for long-term prosperity. And employee retention levels are sure to rise.
Companies can also support their employees’ education outside of the workplace. By offering student loan repayment benefits, employers show that education is important and encourage employees to seek education.
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