As organizations grow and technological innovations develop, so will the needs of your company change.
From employees to leaders, understanding how to pinpoint and unlock each individual's potential is paramount for every business's future.
In order to accommodate new industry trends and keep everyone on a path of growth, consulting workforce development companies will yield immediate, and long-term returns.
What is workforce development?
Workforce development is a business-management approach that centers on the people within your organization. At a higher, more overarching level, workforce development entails employment initiatives that are provided by government agencies, and that aim to support economic growth at a national level.
In addition, workforce development seeks to equip your employees with high-quality training tailored to their specific role and experience level, as well as facilitate opportunities for continuing education programs.
In short, workforce development is all about investing in your teams and leaders so that they can reach their highest potential, maximize success in their roles, and establish clear career pathways.
Essentially, partnering with a workforce development consultant or company will put your organization on a path towards continuous growth at every level.
Key Benefits Workforce Development Companies Provide
For one, it’s immensely helpful to your overall management systems and business structure to get a fresh, outside perspective. You can garner insights about where inefficiencies exist, or even why employees quit.
As you can imagine, when large companies and businesses stop putting their people first, the company suffers in real and measurable ways.
Workforce development helps organizations realign, and re-shift their focus to be people-centered, and to treat their people as assets to their company, rather than numbers.
One significant benefit of this type of management system is that team members are more engaged and productive. Furthermore, their skills grow and develop to support the company as a whole.
Increase Retention Rates
When employees feel part of the inner workings of their department and company, they begin to feel autonomous in their roles. Autonomy and ownership lead to more meaningful contributions and even innovations within your company system.
Additionally, by placing an emphasis on potential and growth rather than simply looking for tasks to be completed, employees will feel more appreciated and fulfilled.
The cost of turn-over is often quite high. Sometimes, it can’t be measured by monetary value alone.
On average, it’s estimated that it costs companies around 6 to 9 months of an employee’s salary to find a suitable replacement. This cost goes into training and recruitment, but also for the time it takes to close the skill gap between an experienced team member and a trainee.
However, employee turnover also leads to lower morale overall, and thus, an additional turnover that can become unpredictable.
What’s more, when your company focuses instead on providing its employees with the resources and support they need to succeed, employees are going to be much more likely to value their position within your company. Therefore making your organization a highly-desirable place for employment.
Burnout is a leading cause of stress and lower productivity. Workforce development emphasizes building the skills and behaviors that will lead to higher-quality results from your team.
By dialing into the most innovative and leadership training, workforce development helps managers and leaders restructure their systems, and gain an understanding of how they can support their teams to be at their best. All while also providing individualized training and education for team members themselves.
As a result, leaders and their teams facilitate an organization’s long-term success and growth.
Start the conversation with Simmons Advantage
If you’re interested in hearing more about how a workforce development consultant can help your organization, reach out to us to schedule a consultation.