Reasons for emphasizing the growth and development of personnel include creating a pool of readily available and adequate replacements for personnel who may leave or move up in the organization.
- Enhancing the company’s ability to adopt and use advances in technology because of a sufficiently knowledgeable staff.
- Building a more efficient, effective and highly motivated team, which enhances the company’s competitive position and improves employee morale.
- Ensuring adequate human resources for expansion into new programs.
Research has shown specific benefits that small businesses receive from training and developing their workers, includes:
- Increased productivity
- Reduced employee turnover
- Increased efficiency resulting in financial gains
- Decreased need for supervision.
Employees frequently develop a greater sense of self-worth, dignity and well-being as they become more valuable to the firm and to society. Generally they will receive a greater share of the material gains that result from their increased productivity. These factors give them a sense of satisfaction through the achievement of personal and company goals.