Unleash the Potential of Your Business with a Strategic Investment
June 15, 2023
The ROI of Funding Talent Programs
To Spend or Save? What do you do? Do you invest in talent? How do you decide? How much do you invest? Will it solve your organizational challenges? Well, it depends upon your unique challenges, but here are our thoughts:
If you are striving to create and sustain organizational change – invest!
If you desire to grow your leadership bench – invest!
If you want to attract, engage and retain the best talent for today and tomorrow- invest!
If you require greater talent agility – invest!
If you want to grow talent capability to grow your organization – invest!
If you are striving to strengthen your organizational outcomes – invest!
When deciding whether to invest in talent, knowing what to do can be difficult. However, investing in your organization’s people can have many benefits. Investing in your people is the way to create and sustain organizational change, grow your leadership bench, attract and retain top talent, increase talent agility, improve organizational outcomes, or achieve increased talent capability. A sound learning and growth culture can improve performance by 37% compared to companies that do not value or invest in learning.
Retaining and Engaging Talent
Retaining and engaging top talent is still challenging, even though the talent crunch has eased up. Having talented employees ready to take on greater responsibility is crucial. Today, the employee experience is the key to engagement and retention. Employees with positive experiences that meet their needs will be more engaged and 3.3x more likely to stay at their organization.
Creating a positive employee experience requires the right investment. At WinningWise, we conducted a study in 2023 that revealed the three most critical individual needs for today’s employees: Mastery, Personal Growth, and Lifestyle. By creating meaningful work, promoting a learning orientation, and investing in directed, accessible, and meaningful development that fits easily into employees’ lifestyles, you can construct a differentiating employee experience.
Improving Business Outcomes
Investing in talent can have a significant impact on business outcomes. Employees who feel valued and supported in their professional development are more likely to be engaged and productive. This can lead to improved performance, increased innovation, and better customer satisfaction. Additionally, investing in talent can help organizations stay competitive in today’s rapidly changing business environment, creating greater returns for investors and increased customer satisfaction.
Prepare for the Long-Term
Investing in talent can increase employee satisfaction and retention in the short term. Employees who feel supported and encouraged to develop their skills are more likely to stay with the organization. This can save the company money on recruitment and training costs. In the long term, investing in talent can help organizations build a capable workforce well-equipped to tackle future challenges. By developing a culture of learning and development, companies can attract top talent and position themselves as leaders in their industry. Ultimately, investing in talent is an investment in the future success of your organization.
talent development, employee experience, retention, business performance, talent investment