The Plan: How Training and Development Lead to Employee Retention and Growth

By Caroline Murphy posted 06-07-2019 12:37 PM

  

As we roll forward through our Q2 Breakfast Roundtable Series: Getting It Right:  How CFOs Unlock Value With Technologwe are reminded that investing in the training and development of our employees behind the technology is just as important as investing in technology systems. Toronto Member Guest, Samiksha Khanna, COO/CFO for Uberflip, explained her company’s practice for investing in their employees. Uberflip serves as a platform for marketers to create, manage, and optimize content experiences, so that content can be fully leveraged by all company stakeholders at every stage of the buyer journey. Samiksha explained how Uberflip’s practice for investing in their employees includes making an initial planexpanding that plan, and then committing to a per person budget for training and development. 

1) Make an individual plan- Develop a training and development plan for the individual that aligns their personal goals and the goals of the company.

2) Look ahead- Make a three-year plan with employees. Ask where they want to be in three years and develop a plan to get them there. Stick to the goal of the plan while being flexible to adjust along the way. Investing in long-term goals for individuals that align with the company goals allows for happy employees and growth for the company.

3) Create a budget- Uberflip budgets $1,000 for every employee’s training and development across the board. For high performing or high potential employees that they want to invest in, they allow for the employee to present a business case for more budget. 

Caring about company success needs to start with individual employee success. Employees care about their organization if they feel they are cared for. Employee development programs help employees prepare for the future and develop abilities to integrate and work with new technologies. Training, developing, and planning for an employee's future makes them feel more confident in their current job as well as where the business is headed, which leads to job satisfaction, and thus a higher employee retention rate. Utilizing Uberflip’s plan gives the overall benefits of having higher employee engagementimproved employee retention, and better overall company performance.

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