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Recently, I read the following: CFO asks his CEO, "What happens if we invest in developing our people and then they leave the company?" CEO answers, 'What happens if we don't, and they stay?"
Any investment must have a positive acceptable ROI and it must be affordable. If that is satisfied, it is better pursued.
I see that HR policies should be used to protect such investments. I saw policies which state that an employee must stay in the company for a specific time is the company invests in his/her development and if he/she didn't make it, he/she have to pay the remaining balance of the icured cost. I saw others which enforce certain changes in the targeted performance measures in order for the company to bare the costs. Other approaches are possibly out thier to ensure positiove ROI for investments in the company's human capital and I think that is reasonable as long as they end up being a win-win to all parties.
I also experienced that govenrments measure such returns on the community as whole and not only for the agency the employee was working for during the time of his/her training. And I see that as a wise move from them.
Investing in development of a company's human resources is key as it is the life blood and one the intellectual properties tht may not be easily duplicated by competitors if well motivated and retained.
However many companies do not pay the required attention of strategy as they view this as a cost. But if done well it can pay off in the future.
one of the first steps is to have a retention or contingency plane which ensures the company does not easily lose valued employees but most importantly ensure that those whom the company has paid to develop are put under bond or conditions that they will serve in the company in the near future before leaving and using the expertise elsewhere.
other strategies may look at sharing such investments between the company and the employee or issue loan payable at low rates for the company to recover its investment.
They are the face of the organization as well as brand ambassadors considering their high interactions with candidates of different profiles, designations and industries. Such brand and company ambassadors who are the first people to interact before interviews with the line managers should definitely create a good image to the external audience and therefore need to be strongly invested upon to ensure good quality of talent.
Organizations who are reluctant to invest in their resource will results in higher turnover, time consuming process, less effective customer services etc as they are not accepting their shortcomings and neither to improve them which requires time and finance. This leads to fewer turnovers as final product.
