Few things are as critical to the success of a business as its employees. They are the backbone of an organization, and without them, the entire operation crumbles to the ground. Naturally, it would be smart to make sure that you can get the best people to fill the positions as possible. Once you have the right people, it is just as important to develop them. Below are five reasons to invest in your employees through performance development.
- It lets them know that you take their futures seriously
The relationship between employee and manager/owner can be a loaded one, and one that is tricky to navigate. By investing in your employees, you give them the sign that you have a stake in their futures. It works both ways, and the employee becomes more inclined to see your company in his or her future. When an employee feels is if their employer has an active interest in their future, they are always willing to increase their commitment to the company.
- It encourages them to invest more energy into the company
Often times people put only as much effort that is needed into a project or a task at work. For many interviewees, the problem of, “exactly what should I wear to an interview?” could sometimes be the hardest decision they have to make regarding their time at the company. When you invest in your employees, they take their work more seriously. If this is made clear to them during the interview process, they will be thinking about their future at the company, and not on petty issues.
- It allows the employee to look forward, not backward
Performance development, as opposed to performance reviews, make the employee feel more like a team player, and less like a worker. ATD (Association of Talent Development) editor Ryann Ellis believes that “annual performance reviews hone in on an employee’s past performance rather than focus on how to develop and promote better future performance.” Instead of focusing on what has passed, isn’t time and energy better spent on preparing for the future and developing the employees now?
- It establishes clear expectations for the employees
One of the greatest challenges when leading a team is setting clear expectations for each team member. What happens too often is that in the beginning of an employee’s time at the company, expectations are not clearly laid out for them, and for the remainder of the time at the company, they may be moving on day to day, not knowing exactly what is asked of them. This can lead to the makings of a bad employee/manager relationship, and cause significant drag on the company, especially any projects the said employee may be involved in. Bryant Ott of GALLUP says, “when managers can establish expectations the right way — expectations that are clear, collaborative and aligned — they create trusted relationships with their employees and properly align them with their roles.”
- It recognizes exceptional behavior
Whether or not an employee feels appreciates plays a large part in whether he is truly committed to the company or not. It is important that an employee feels that they are needed and rewarded when they do an excellent job. In an article posted by Inc, the importance of recognizing our employees good work is highlighted, “recognition from managers and coworkers influence motivation, job satisfaction, and engagement more than most other factors.”
Putting time and energy into performance development benefits not only the individuals involved but the company at-large. What company can expect to have long-term stability if its employees do not feel as if they are being invested in? All of the greatest and most enduring companies are well known for putting great importance on the fact that their employees are the company’s life-blood, and their development is critical to the company.
by. Dennis Hung