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The Power of Investing in Employee Development: How to Retain Your Best Talent and Stay Ahead of the Competition

Author:
Lisa Scorzon
April 26, 2023


Welcome to part 2 of the blog on how to lose your best employees and fall behind the competition! Just kidding, of course. In reality, the key to success is retaining your top talent and keeping them engaged and motivated. But let's take a moment to imagine what it would look like if you did the opposite. Say you don't invest in your employees' development and don't provide opportunities for growth and learning. Before you know it, your best employees start looking for other job opportunities, and your organisation falls behind the competition as a result.

According to the 2022 Developer Survey by Stack Overflow, 78% of respondents reported that their employers give them time to learn, and 64% use learning resources provided by their employer. Do you provide your employees with the time and resources to learn and develop their skills?

In the same survey, we see that Rust has been the most loved programming language for seven years in a row, with 87% of developers saying they want to continue using it. If your company is considering switching to a new tech stack like Rust, it's important to ensure your development team has the necessary skills and knowledge to work with it effectively.

Loved Vs Dreaded, according to Stack Overflow survey - based on 71,467 responses

Making the switch from one technology to another can be a big change for your development team, but with the right training, it can also be a great opportunity for growth. Providing an intensive 3-day training for your development team can help them gain the skills they need to work with Rust, or any other new programming language or technology.

Taking the team of developers off a project for a few days for training may seem like a loss of productivity in the short term. However, investing in your team's skills can have long-term benefits that outweigh the short-term costs. By providing training opportunities, you are equipping your team with the knowledge and skills needed to tackle new and challenging projects with greater efficiency and effectiveness.

In this article by the Harvard Business Review, 'assemble your own skilling stack' is mentioned as one of the 6 strategies to up-skill your workforce. For too long, internal training has revolved around boring and passive prerecorded videos and e-modules. Why is education for children made fun and interactive, but we expect our employees and teams to follow mundane and dull training? Not only does fun and interactive training help create a positive learning culture within an organisation, but employees are more likely to stay motivated and interested in the training material. This leads to better retention of information and a greater willingness to apply what they've learned in their work.
Together with Kyna, we build customised trainings that are tailored to the specific needs and skill sets of the employees, resulting in a more efficient use of their time and a better understanding of how the training applies to their work.

But why is internal (IT) training so important? Here are a few key reasons:

Stay Up to Date: As technology continues to evolve, it's essential to keep your team up to date with the latest programming languages and tech stacks. Internal IT training can help ensure that your team has the knowledge and skills to take on new projects and stay competitive in the marketplace.

Improve Efficiency: By investing in your team's training, you can help them work more efficiently and effectively. With the right tools and knowledge, they can streamline their development process and reduce errors, leading to faster and more accurate project completion.

Boost Morale: Providing your team with opportunities for growth and development can also help boost morale and job satisfaction. When employees feel valued and invested in, they are more likely to stay with the company long-term and produce higher-quality work.

.......oh yeah, let's not forget that when employees feel valued and supported by their employer, they are more likely to stay with the company long-term, reducing turnover rates and creating a stable workforce. Additionally, word of mouth about an employer's positive culture and commitment to employee development can attract new skilled workers who are looking for a company that prioritises professional growth and development.

What about increasing time to market and getting ahead of competition?

Well, a study by Deloitte found that companies with a strong learning culture are 92% more likely to innovate, and 46% more likely to be first to market with their products and services. Prioritising employee learning and development can have a significant impact on a company's success and competitiveness in the market.

High Performing Learning Organisations are 92% more likely to innovate

At Techmongers, we specialise in providing customised training solutions for companies looking to up-skill their employees. Our experienced teaching practitioners can help your team master new programming languages and technologies quickly and efficiently. Contact us to learn more about how we can help your team stay ahead in the fast-changing world of IT. Don't let your team fall behind the curve. Invest in their growth and development with internal IT training from Techmongers.

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