Future Manager Italy Insights
Author: Future Manager Research Center
CFO asks CEO, “What happens if we invest in developing our people and then they leave us?” CEO answers: “What happens if we don’t, and they stay?”
This imaginary conversation by Peter Baeklund, Danish teacher specialized in powerful leadership, refers to a very important topic: the investment of leadership in the training of its employees.
Training and improving staff skills is often considered a waste of money due to the possibility that that person will then leave the company.
John P. Kotter, a professor of “Leadership” at Harvard University, said that organizations investing in human resource training can overcome the 500% competition. In fact, the employees who are granted the possibility of personal development are 15% more loyal to the company and are 34% less inclined to leave their jobs.
The increase in engagement consequently leads to an increase in productivity and therefore in performance and turnover. Therefore, at a time when 70% of the workforce is not loyal, a leader cannot fail to invest in the professional development of his employees.
A business is nothing more than a collective of energies and efforts of people working with and for the company. How could investing in training be inconvenient for an organization? Considering the fact that we are in the digital age where everything changes quickly, it is important to continue not only to form, but also to improve your skills.
Training, respect and support towards each employee are the leader’s priority. The success of a good manager lies in their capability to teach others, that goes hand in hand with their personal growth.
Furthermore, replacing lost talents costs a lot more than training current employees, so the lack of skills development represents a cost to the company. In addition, employees, especially if they are Millennials, prefer to choose companies that invest in this way and precisely for this reason the training development of the person is a critical strategic tool of productivity with which companies can gain remarkable advantages up to the competitors.