Dollars and Sense: Developing quality employees pays off

We have written often about the critical importance of finding and retaining A-player talent.

It is a fact that organizations with the best talent consistently outperform their competition.

Yet many organizations continue to report serious talent shortages in areas ranging from entry-level to technical and craft positions to the executive level.

Given this dearth of talent, the most enlightened companies are beginning to focus more effort on growing their own talent.

Companies often talk a good game when it comes to investing in training and development for their employees.

Repeatedly, though, as soon as times get tough one of the first things that gets cut is the employee training and development budget. In such organizations, developing people is obviously not really considered vital.

Reality, though, is much different.

Numerous surveys confirm that the availability of training and development opportunities is one of the key points of interest for attracting and retaining A-player talent.

You see, A-players know that lifelong learning is critical to their continuing success. Investing in people keeps them engaged and focused on organizational success. Wise organizations also realize this and invest in their people accordingly.

The idea of lifelong employment with a single employer is a concept no longer relevant in today&8217;s workplace. Forward thinking companies, General Electric is one that comes to mind, realize that offering training that ensures continuing employability for the employee is critical to attracting and retaining top talent.

This on the surface contradiction does not deter GE from investing in people because it realizes that its business, like its talent needs, will change over time.

Companies that actively drive training and development opportunities throughout the organization reap many benefits. They attract and retain A-player talent.

They are often recognized as the most desirable places to work. And most importantly, by investing in their own talent development process, they build a workforce of talented and committed people.

So ask yourself this question. &8220;How committed is your workforce?&8221; If you don&8217;t like the answer you get, try investing in developing others