Importance of developing staff to achieve performance and reduce attrition‏

For what is the third consecutive year on the run, commercial radio operator, UKRD Group topped this years’ Sunday Times list of the Top 100 companies to work for. UKRD as a company prides itself on being a winning mix of the professional and unconventional. Its focus on ensuring every employee has a dedicated development path and growth model helps to keep the attrition rates for the company low and the awards to keep coming.

Is making staff development a key strategy, good business sense?

  1. It is no secret in business that loyal, motivated staff have the best productivity as well as the highest standards of work. Taking a genuine and honest approach to staff development in any company demonstrates the businesses investment in an employee’s future and wellbeing.
  2. Formal training and skill development will raise overall competence and production levels in any business. Highly skilled and highly trained employees will ensure your business continues to evolve efficiency and innovate as needed within your industry.
  3. Employees are your principle business asset, invest in them. Keeping attrition rates low in any business environment helps the bottom line. Recruitment can be a costly processes both internally and for engaging external vendors. Recruitment due to company growth rather than churn is what any profitable business should be aiming for to help sustain growth and a profitable margin.
  4. By ensuring a coaching and rewards culture exists within your business you will not only help to keep attrition rates low but will ensure the key tools of your company’s cultural DNA are passed on and maintained as your business grows and expands. Keeping valuable insights and company ethos secure during growth and peak times ensures efficiency and profit remain high even though the workforce itself may be straining and under pressure. High attrition rates within any company can lead to decline in productivity growth whilst teams need periods of readjustment to integrate and train new staff members.
  5. Top talent within any company will want to succeed and be promoted as part of their career development. Growing in-house talent and ensuring your talented potentials within the workforce are trained and on the path to becoming better leaders can be cost-effective and profitable for any company as high position hires can often be lengthy and costly. Growing your leadership team internally is a key strategy of many of the top UK companies that have successful and productive growth plans.

To put any of these strategies into action, you will need internal focus of your efforts, HR initiatives and a clear defined plan to secure and grow your company DNA and leadership teams. Whilst bringing internal development into the foreground of any tactical plan may be a mid to long term initiative, the benefits overall to your company will last for many years to come if implemented successfully.

2 Comments

  1. Sammy-Reply
    September 23, 2014 at 4:49 pm

    Definitely agree with this, the reason most people leave their jobs is either lack of development and/or their manager!

    Amazing that money is actually ranked quite low in the overall reasons for leaving and moving on

  2. Will-Reply
    November 23, 2014 at 7:03 pm

    Spot on article – shame a lot of employers don’t understand this

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