The Importance of Employee Development
The workforce is a company’s most valuable asset. A company has a higher probability of succeeding if its workers are inspired to perform to the best of their abilities because they will translate that enthusiasm into better work results. Employee training and development is a crucial element that promotes engagement, progression, and employee satisfaction. Strengthening the skills of employees will not only increase productivity and morale, but also equip them for more responsibilities within the organisation. Investing in employee’s skills will also increase opportunities for the team to grow professionally.
The below are some reasons showcasing the importance of investing in employee development:
- Being prepared for the Future
Investing in staff development entails more than just providing technical training to employees. Putting an emphasis on skills such as effective communication, adaptability, and others helps to prepare staff for whatever changes may occur in the foreseeable future.
- Improved Motivation of the Employees
Training employees can increase their sense of self-worth, encourage engagement, and reaffirm their values.
- Enhanced Retention Levels
Maintaining employee satisfaction through personal and professional development reduces turnover and, consequently, costs. Replacing an employee is far more expensive than investing in ongoing training.
- More Opportunities for Employees
Training and developing the employees goes beyond merely keeping workers at the company; it also paves the way for their career progression.
- Increased Productivity and Engagement
Employee engagement and productivity increases when the employees feel engaged and confident in their work, which improves the efficiency of the company.
Investing in training can be costly and usually companies registered in Malta may be eligible for funding to part-finance their training programs. The current main relevant funding scheme is the ‘Investing in Skills Scheme’ which was launched by Jobsplus to promote the training of persons actively participating in the Maltese Labour Market, with the aim of increasing productivity and enhancing adaptability. The current Scheme is currently open for training activities held till 30th June 2023 with applications submitted by 31st March 2023.
Having said this, feel free to reach out to us should you wish to obtain more information on this or any other relevant funding schemes at that point in time.