Empowering Your Workforce development

Developing a workforce with a high level of expertise is not an easy task, but it is necessary for the long-term success of the business. That means investing in workforce development.

Workforce development not only ensures your employees’ skills align with the needs of the business, boosting profit, productivity, and scalability, but also supports individual career development and job satisfaction. It’s a win-win result.

What exactly is employee development?

An approach to enhancing workers’ skills based on the needs of individual companies and local communities, workforce development is the bedrock of continuous business success and economic growth.

‘Workforce development’ can refer to local government initiatives aimed at upskilling the labor market, reducing unemployment, and driving economic growth, such as apprenticeship schemes and incentives to businesses to provide training.

Workforce development and workforce planning

It is a critical part of the workforce planning process, helping businesses put a plan in place to fill any identified skill gaps and support workers’ career ambitions through training and education. With the support of workforce planning tools, you can figure out what training options will be most effective.

Why is workforce development so important?

Technological advancements: It’s no secret that technology is advancing faster than ever before, with AI and automation changing the way we work across all industries. It ensures employees are appropriately trained to work with new technologies and increase human capital by developing roles that are less likely to become redundant in years to come.

Economic resilience: Organizations across the globe have felt the impact of economic downturns in recent years. Workforce development ensures businesses remain competitive by creating agile workforces able to adapt to changing market.

Employee retention and satisfaction: Following the COVID-19 pandemic, there has been greater awareness of how offering training and development can positively impact employee satisfaction and retention. When unable to access training and development, employees are faced with a decision: stay in their role and risk stagnation or explore new roles elsewhere. Employees who are capable of continuous development are twice as likely to commit to their employer for their entire careers. Workforce development is a people-first approach to business development that puts the needs of employees first and treats people as valuable assets that are worth investing in.

Why should organizations invest in workforce development programs?

Workforce development is powerful. That can’t possibly be denied! You may be wondering about the day-to-day return on investment your business can see by prioritizing your workforce’s training and education. We believe you should invest in workforce development programs because they deliver:

Higher productivity: Highly-trained, highly motivated employees will work more efficiently and effectively, producing higher quality outputs.

Increased innovation: Constant learners are more likely to bring new ideas to the table, supporting innovation in a business landscape that demands adaptability.

Future readiness: Keeping your employees up-to-date with market trends, technologies, and specific industry practices helps future-proof your business.

Happier employees: Building a motivated workforce includes treating your workers like the assets they are rather than numbers on a spreadsheet. Offering training programs shows your willingness to invest in their careers, increasing job satisfaction.

Reduced employee turnover: Employee turnover is directly linked to job satisfaction. Employees who feel their employers value their input are more likely to display loyalty.

Attract the best talent: Many job seekers look for workplaces that encourage continuous learning and development. By offering such benefits, your company will attract top talent.

How can technology help?

We will always shout about the merits of workforce development from the rooftops. One last piece of advice, though: you won’t get a great return on investment unless you align your plans for training and development with your company’s long-term objectives. That means determining the skill gaps in your organization’s existing workforce. Whether you have a headcount of 20 or 20,000, this can be a time-consuming process. Thankfully, many software tools exist to support skills management.

Runn makes skill tracking easy by laying out your workforce’s skills inventory in an easy-to-understand format, from languages and technical abilities to management skills and sector or project experience. You can understand where your team’s expertise lies, including their skill levels, at a glance, informing resource planning and investment in workforce development initiatives.