These Employee Advancement Opportunities Can Attract and Retain Qualified Employees
When you are hiring for open positions, it can be easy to focus on salary and other material benefits of each position. It would be foolish, however, to overlook intangible perks like employee advancement and engagement opportunities. These top five options can really motivate employees to stretch their boundaries, learn more, and grow within your company.
Mentoring isn’t just for completely green new hires. A successful program can benefit everyone involved. Build a program that allows staff to learn across departments and among peer groups in addition to more experienced professionals in their departments. In this way, they will from others who have been where they are, but it can also give them a chance to see how different parts of the business fit together to make it a whole, cohesive unit. Another big bonus to this type of multi-level mentorship is that learning takes place in every direction. So, not only do new hires learn from those that have been around the company for a while, but those more established employees can also get the new, fresh perspective on the job, company, and processes that new staff brings to the table.
Let’s face it, going back to college is an expensive proposition. If your staff is still facing piles of student loan debt (more on that later), they may not feel comfortable heading back for an advanced degree. However, it is imperative that employers realize that the more their employees learn, the more they can give back to the company. That is why so many businesses are offering tuition assistance programs. Encourage employees to take advantage of your tuition assistance program, maybe by pursuing an online master in business analytics.
Student Loan Payments
For those who are more focused on paying off existing educational loans than possibly accumulating new ones, you might consider offering a student loan forgiveness program. These can range from a set amount toward existing student loans each month, to completely paying them off if. There is generally a provision that the employee will agree to stay with your company for a set number of years before the payments are made in the latter situation, so you are not only attracting highly qualified employees, but you are also setting yourself up to keep them on board for a long time.
Skills and Leadership Training
Sure, there are plenty of opportunities for leadership and skills training while on the job. Sometimes, however, your employees will want to learn in a more formal format. If your company requires staff to maintain certifications, consider offering to support their continuing education with specialized skills training programs. You could even host them onsite during work hours so staff is encouraged to participate. Sending promising employees to one of the available leadership certification programs could possibly help encourage them to advance their careers within your business as well, so be sure to check out those options as well.
Technology has opened up training opportunities for many people that they otherwise might not have had. That applies to job-related learning, too. Many companies are taking advantage of online learning platforms to encourage employees to learn new skills, improve job performance, and set themselves up for advancement. Consider scheduling group webinars that offer continuing education credits if your company requires them.
The staff that feels they have had enough formal education being don’t have to stop learning. On the contrary, now is the time to delve into field-specific knowledge that is best learned through networking with their peers. Consider offering your employees opportunities to attend conferences and trade shows, both of which can help them make connections and gain wisdom that often can only be learned by doing the work.
When businesses invest in employee advancement programs, they are hoping to retain talented and driven staff for the long term. The reality is, hiring and training a new employee is a messy, time-consuming, and expensive process. By encouraging staff to grow, learn, and advance through the company, your business is not just investing in the future, but it’s own as well.