If employees had to choose between training and growth opportunities or diversity and inclusion programs, which would they prefer? According to a recent study conducted by the public relations firm Finn Partners, training is more important.
Why does training come out on top?
"Businesses can better prepare their future leaders for success through employee development."
A third of respondents in the study indicated that investing in employees is vital, while 55 percent ranked it in the top two most important company features.
Employee development goes hand in hand with employee engagement. Without true employee engagement, worker happiness, productivity and overall retention decreases, with business often suffering from the consequences.
What is spurring this change?
Experts believe that the skills gap between baby boomers and Millennials is growing, with some middle and upper management unable to keep up with new hires. When this occurs, there is no ability to implement real training, as the disconnect between the two is often too great.
"Leadership development, succession planning, and training programs that tackle the skills shortage will be major themes in 2016 as an increasing number of organizations will invest more in middle management to ensure they can properly hire, coach, and motivate their employees," said Joyce Maroney, director of the Workforce Institute.
How can businesses make a change?
Research from the Association for Talent Development found that organizations spent more on employee training in 2014 than previous years. In addition to this, the amount of time and effort workers are putting into these programs is also increasing. By implementing programs, giving employees access to attend and ensuring information is learned, workers can be well-trained. In doing this, businesses can better prepare their future leaders for success.