Employee Development Is Crucial for the Success Essay

Employee development is crucial for the success of a company or institution. Employee development provides for a work environment of educated, informed and like-minded individuals, all working to serve the greater purpose of the company for which they are employed. Employee development is a vital aspect in the success of any business, be it big or small, and it is more of an intellectual investment than a monetary one. With the implementation of an employee development program within a company, owners and investors will see that the benefits of employing such a program far outweigh the costs of implementation, providing for a more focused, driven and goal-oriented staff which serves its employer to the best of its ability.

Introduction

The University of Minnesota (2010) defines employee development as a "joint, on-going effort on the part of an employee and the organization for which he or she works to upgrade the employee's knowledge, skills and abilities" (UMN p.1 ). In viewing this definition, it is easy to see that such a skill-set is vital for maintaining a staff of individuals who are focused enough to lead a company to the goals in which it has set out for itself in its business plan. Employee development is crucial for the success of a company, as it provides for a work environment of educated, informed and like-minded individuals, who are all working to serve the greater purpose of the company for which they are employed. Employee development should not be viewed by a business owner as a cost, but as an investment, which not only pays for itself but continues to reap rewards for the business owner in the long run.

Costs and Benefits

When taking the time to develop a new aspect of a business, the costs and benefits must be assessed to assure that the benefits will ultimately outweigh the costs, and the implementation of an employee development program is no different.Employee development consists of pushing employees to their highest potential through training and motivation and ensuring that this new education is maintained and utilized in the workplace. In terms of employee development, the costs are truly minimal as it involves nothing more than in-house training and the development and honing of skills. Costs are often limited to the implementation of new programs within a business, the training that goes along with them, and the use of outside training or classes to increase employee knowledge. However, if no new programs exist, employee development can often be run in-house with extremely minimal costs.

The main benefit of utilizing an employee development program is enhanced performance among employees. When an employer sends employees to training or classes or leads workshops within his or her own company, employees garner new knowledge that can not only be applied to their current job, but new responsibilities as well. When an individual can function at their job to the highest of their ability, they achieve maximum results in terms of time management and productivity. An educated staff is one that asks fewer questions and takes more initiative, allowing employers to issue more responsibility to their staff without any….....