E MPLOYEE D EVELOPMENT P LAN Cultivating Tomorrow’s Leaders Jenna Holtz EIDT /19/14

W HAT IS E MPLOYEE D EVELOPMENT ? Insurance for: Talent retention Company success on future endeavors Positive work environment, A place employees want to be “Employee development is a necessary component of a company’s talent management efforts…it is key to ensuring that employees have the competencies necessary to serve customers and create new products and customer solutions.” (Noe, 2013, p. 367)

W HY CHOOSE E MPLOYEE D EVELOPMENT ? Skills and knowledge are kept up-to-date and relevant. New protean career pattern, based on self- direction, lends to psychological success and achievement. “These new career patterns mean that developing employees must be provided with the opportunity to (a) determine their interests, skill strengths, and weakness; and (b) based on this information, seek appropriate development experiences that will likely involve job experiences and relationships as well as formal courses.” (Noe, 2013, p. 369)

W HY CHOOSE E MPLOYEE D EVELOPMENT ? Mentoring programs, a type of employee development, increase skills and self-efficacy for employees, benefitting the company. “Mentoring relationships provide opportunities for mentors to develop their interpersonal skills and increase their feelings and self-esteem and worth to the organization.” (Noe, 2013, p. 397)

W HY CHOOSE E MPLOYEE D EVELOPMENT ? Employee development aids in succession planning, identifying and molding future leaders and strengthening the company over time. “Succession planning refers to the process of identifying, evaluating, developing, and tracking high potential employees who are capable of moving into higher-level managerial positions. It identifies and prepares future company leaders, help ensure that the company runs smoothly when key employees and managers leave, and creates opportunities for development and promotion.” (Noe, 2013, p. 399)

W HY CHOOSE E MPLOYEE D EVELOPMENT ? Employee development helps to change dysfunctional behavior in managers, maintaining talent and increasing team effectiveness for companies. “Research suggests that managers’ participation in these programs results in skill improvement and reduced likelihood of termination.” (Noe, 2013, p. 404)

W HY CHOOSE E MPLOYEE D EVELOPMENT ? Employee development fosters better onboarding, resulting in more engaged new hires and managers and a stronger, more effective workforce. “Effective onboarding is related to many important outcomes for the employee and the company including higher job satisfaction, organizational commitment, lower turnover, higher performance, reduced stress, and career effectiveness.” (Noe, 2013, p. 404)

S UMMARY Employee development is insurance for talent retention, company success, and a positive work environment. Employees need to be empowered to keep their skills and knowledge up-to-date and current. Mentoring programs benefits all involved. Solid succession planning ensures future leaders are strong and capable to perform. Companies don’t need to lose dysfunctional managers, but can change behaviors. Effective onboarding retains talent, lessening attrition, and attracts better performing workforce.

R EFERENCES Noe, R.A. (2013). Employee training and development. (6 th ed.) New York, NY: McGraw-Hill