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Newsletter Article

Member Benefit

Employee Development by the Numbers

Published Mon Apr 19 2021

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While there are no guarantees in the business world, one thing is almost certain: Investing in employees is always a good idea. According to Gallup, organizations that strategically put time and resources into employee development enjoy, on average, an 11 percent increase in profitability. Why, then, do so few managers and leaders prioritize it? Time and energy, for one. Coaching effectively is a difficult, time-consuming process. However, there are several more statistics that further illustrate why it’s a worthy cause. For every dollar spent on improving customer experience through employee training, there’s a three-dollar return. But the timing and type of coaching matters. When training happens immediately after an interaction or incident—also called integrated coaching—team performance can increase by a factor of nearly 12 percent. The best managers spend almost three-quarters of their time actively coaching employees. And one final thought: Employees desperately want this. Only 21 percent of workers feel like they have clear performance management metrics and feedback mechanisms to do outstanding work.

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