Sixty-seven percent of the CEOs surveyed from the 2007 Inc. 500 list (released August 23, 2007) state that “good employees” are one of the two most important factors in their company’s success. It is no secret that the development of employees is closely related to a company’s chance for growth, and the fact is that a standard benefits package is no longer enough to retain talent.
Companies that want to attract and retain valuable people need to find a way to participate and contribute to their employees’ growth. Here are some ways to foster employee development and growth.
• Start a mentoring a program. More experienced employees can assist newer employees become familiar with the company, serve as a sounding board or provide career advice. At the same time, mentors will benefit from their less experienced partners while becoming better managers.
• Launch employee training and continuing education programs. Continued training sharpens skills and demonstrates the value a company feels for its employees.
• Tuition reimbursement. Better-educated employees benefit the company as a whole, while making a company a more appealing place to work.
• Hire and promote from within. Providing the opportunity for your employees to grow within the company reminds them of their value and that past contributions are appreciated.
• Reward star performers. Recognize star employees, as hard rework deserves to be noticed.
• Foster creative learning processes. Develop a program that makes suggestions, new ideas, and feedback easy to share and free from retribution.
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