• Offering development programs can help attract and retain top talent.

One of the significant values of training and development is the positive impact it can make on employee turnover. When an employee leaves an organization, replacing that person is extremely expensive; replacing a top-performing employee may be especially costly.

While turnover can have a decidedly negative impact, training and development is one of the ways a company can stem the departure of employees.

The value of development It’s not difficult to see why employees would value development. It can open new internal opportunities and help associates establish a career path. The opportunity for further development offers another incentive for workers to remain loyal.

In addition, employees who put training into practice are more engaged at work. Investing in the education and development of employees can have a positive impact on employees’ passion for the job. A company seeking to attract top talent also may find that its development programs offer an attractive benefit to a candidate.