Personal and professional development is essential to the growth of your business, but it can be difficult to determine what should be prioritized for employee development. It's often difficult to justify the financial expense that goes into developing employees, so it helps to understand why you should invest in growth.

Here are three reasons why your organization should be focusing on personal and professional growth:

1. You'll Obtain Better Talent

A strong learning culture led to 30-50% high retention rates in companies. (Robert Half)

Employee development is an investment in future growth for your business. Having an employee who is constantly learning and growing will provide a more valuable contribution to your company than a seasoned worker who remains stagnant. By investing in growth, you will attract higher-quality talent because prospective employees will realize the importance of growth within your business model. This high-quality workforce can make a big difference in company culture and production value going forward, which leads us to...

2. You'll Have A More Inclusive Workplace Culture

43% of surveyed employees claim corporate culture was the main reason for their search for a new job. (Hays)

Culture is formed when behaviors are done over and over again by a group. When you are intentionally and deliberately investing in your team's development, you signal that they are important, necessary, and integral. As your team grows, those investments pay out dividends by creating an inclusive culture for all employees. As your employees continue to grow, the organization should grow along with them, creating a workplace culture that fosters innovation, collaboration, and future vision.

3. Your Customers Will Feel The Positive Effects

As the work environment nurtures employees, customers will also feel the positive pacts with higher quality products and services that speak directly to their needs. When employees have more opportunities to sharpen their skills and abilities, they are more likely to apply those insights and efficiencies into their daily work. The growth of your workforce will directly correlate to the growth of your business as long as you are providing development tools for each employee along the way! Remember that these benefits are only attainable if you provide growth opportunities for your employees.

Here are four growth opportunities that can help you invest in your team's professional development:

1. On-Demand Learning Platforms

There are numerous online learning platforms that provide cost-effective tools to develop individual skill sets such as Udemy, Skillshare, and Coursera. Let's say you have an employee who wants to perfect their project management skills. Imagine if that employee communicated it with their manager and there was a free-to-the-employee option provided by the organization and allocated time within the workday to research options and learn.

If you don't make the time for your employees to learn and grow, they will start looking for other organizations that support their development.

2. Books / ERGs / Seminars

Encourage growth by giving each employee assigned books/tasks/seminars relevant to their skill set every month. Create and support learning pods and study groups Doing so isn't costly and encourages growth, creating a cohesive workplace culture throughout your organization. Switch it up by alternating who leads the group each month and don't forget to reward the efforts of the group with more public recognition upon completion. Many larger firms have ERGs (Employee Resource Groups) that are employee-run and company-supported. There's no reason why the size of the company should matter if the intention is the same - to support, educate and empower engaged employees!

3. Networking Opportunities

Networking opportunities allow your employees to learn from their peers within your organization, industry, and beyond. The pandemic has made it tricky to meet face-to-face, but with some intentional and deliberate introductions, employees are better able to expand their networks and share experiences with other growth-oriented professionals. Associations and professional networking groups are great for employees who want to put themselves out there. LunchClub is also a great free option to connect with specific industries and interests. You also have a Roladex of contacts that with some curious questions, you could better able match with inquisitive team members.

4. Group and Individual Coaching

We are definitely biased by the power of coaching. Employees at one of our longest-standing global clients rate coaching as the top employee benefit at the company. Coaching works on a deeper level to unlock the unique talents, experiences, and expertise of each employee to build confidence, expand leadership presence and problem solve in a crisis.

According to the International Coaching Federation (ICF), 80% of people who receive coaching report increased self-confidence, and over 70% improved work performance, relationships, and more effective communication skills.

Coaching is definitely a financial investment for the organization, but the numbers don't lie. In multiple studies, The International Coach Federation (ICF) has shown that coaching usually generates an ROI of between $4 and $8 for every dollar invested.

Investments in employee growth should not be limited to those in leadership positions; rather, all employees across the company should be encouraged to participate in learning opportunities through ongoing personal and professional development training or by taking advantage of growth opportunities associated with company goals and initiatives.

When it comes down to it, growth has multiple benefits. It is not just important for your employees but is also crucial for your business' success! Grow your team today with personal and professional development growth strategies!