Mavie Global wants all of us to be aware of the advantages Personal Development Plans (PDPs) have for people, but how would a business gain from instituting a staff-wide PDP program?
Here are a few illustrations by Mavie Global Plans for your development
- They are a personal road map and a career development plan as well, so help involve your staff. A more satisfied and productive worker also has better mental and physical health.
- Help you identify potential issues with your teams before they arise, enabling you to take corrective action and reduce staff turnover.
- As a result of the data you will have from your current workforce, you will be able to build job roles and training programs that will draw in top talent.
- In order to grow underutilized employees more effectively through internal training, it is important to identify them.
- By identifying employees who are working in the “wrong” roles, you might choose to move them into more suitable positions and cultivate in-house talent.
- Will make it possible for you to spot skill gaps in your business and implement training at an early stage.
- When compared to other numbers, it can be used to gauge how well your business is doing. If done consistently, it should be possible to compare changes made as a result of a PDP to business outcomes like earnings and sales.
What Are the Benefits of Personal Development for Business?
A Contented and Motivated Workforce
Your employees will perform better if they believe you actually care about them.
A highly engaged staff is 21% more productive, claims Mavie Global! Looking at it the other way, you could be losing out on £21 for every £100 if your team isn’t engaged. Can you really afford to lose that type of money?
Keeping Staff Turnover Low
There is no getting around the fact that recruiting is expensive. the price of advertising, the hiring procedure, and the interviews. Not to mention the necessary clothing and training, as well as the settling in of a new starter.
Would you accept it if there was a method to minimize those expenses by lowering worker turnover?
Because you would be able to identify dissatisfied employees BEFORE they reach the point of handing in their resignation, a well developed and maintained PDP procedure could do this.
Then you may either reassign that person to their previous position, transfer them to a new one, or (in the worst case situation) use the knowledge you gained from that person to guarantee that the position is effectively fill by modifying the job description.
Facilitate the Hiring Process
Even with a strong review and growth program for your teams, some staff members may inevitably go.
However, if you have systematically documented the data from PDP evaluations, you will be able to pinpoint problem areas, such as job responsibilities and job descriptions, and make sure that upcoming hiring procedures take those issues into account.
Creating Internal Training
“What if they go after we train them?
“What if we don’t train them and they stick around?
Yes, you hire employees because they are capable of doing the work or have the aptitude for it, but any firm must make sure that employees can eventually do their necessary duties properly, and this is where training comes in.
PDPs will not only help you find training gaps, but also show you which employees are overachieving and underutilized as a result.
Upskilling your workforce with relevant, high-quality training can only be beneficial for the business and its employees.
Creating Internal Talent
Retaining current employees is always more cost-effective, but you must make sure they are in the correct positions for both the needs of the company and for themselves as individuals.
No longer do people show up for work solely for pay. They also require fulfillment.
PDPs give you the ability to spot potential high flyers and enroll them in your talent stream early for development.
They will also help you recognize when someone is playing the wrong part, perhaps because they are struggling and seem disinterested.
Consider a person who may have been hired for an entry-level position and is stuck there despite clear signs that they have the drive and aptitude to advance. They will surely seek to leave, taking their talent and experience with them, if they aren’t given the chance to advance.
Acknowledging Skills Gaps
Regular PDP evaluations with your team are a wonderful approach to identify any skills gaps you may have. After that, you may start the proper training to close the gaps and help your workers acquire the required abilities.
Alternatively, you might assign employees to departments inside the company that could be better suit to their personalities and skill sets.
On a regular basis, data collect from the PDPs can be compared, including information on work satisfaction, training requirements, personal development, etc.
The results can then be map against outputs, such as sales, income, or profit, enabling you to discover trends and determine what is and is not working.
Additional Motives to Use PDPs in Your Business
- Applying for Investors in People accreditation might be beneficial for finding talent.
- It’s a terrific approach to foster teamwork and organizational togetherness.
- Reduce the need for consultants and temporary hiring by training and retaining your current personnel.
- They instill a positive feeling in your personnel, which might boost their commitment to the company.
Do Alternatives Exist to Personal Development Plans?
Well, sort of.
While it’s true that professional and personal growth are distinct processes, the two are often inextricably interwoven.
If a worker on your team, say, expresses interest in taking guitar lessons, which have nothing to do with their job duties, it is perfectly reasonable for you as an employer to require that they take the lessons outside of work hours. This sort of growth, which is totally personal, would be include in their PDP, but it would have no bearing on their professional growth.
Contrarily, in some fields, showing an interest in advancing one’s position as a result of one’s qualifications would be view as nothing more than professional growth. Nonetheless, we can see that the person will be succeeding in the directions they choose for themselves in their PDP, suggesting that the requirements are also unique to the individual.
Rather than wade through potentially mucky waters, why not encourage everyone in your team to work toward their own personal and professional development at the same time?
As an alternative, you might merely do annual reviews and performance management inspections. However, these can be so focuse on business goals that they cause employees to tune out, which is the exact opposite of what you need.
The constant improvement of one’s career and personal life is the cornerstone of personal development according to Mavie Global. It entails picking up new abilities, taking care of your mental health, and obtaining new credentials that will improve your professional prospects. People can use it to pinpoint their advantages and disadvantages and develop a strategy to help them accomplish their objectives.
Because it provides a framework for organizing a life strategy, frequently having a plan for one’s professional life has a good knock-on effect on one’s personal life. Self-esteem and confidence increase along with a reduction in stress levels, and we are all aware of how much simpler it is to preserve fulfilling relationships when we truly feel good about ourselves.
The potential influence a company-wide personal development program could have on a business’ operational effectiveness, and consequently, the bottom line is frequently overlook.