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You’ve heard this before: Employees are a company’s most important asset. On almost all levels, that’s true. High-performing employees are crucial to business growth and prosperity. But if your employees aren’t qualified, capable and well trained, they won’t ever be the essential asset your company needs them to be.
Workplace skills aren’t one and done, either. As technology and business practices evolve, employees who may have had cutting-edge knowledge when they joined your organization can find themselves at the back of the pack if they don’t get professional development opportunities that keep their abilities fresh.
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The more skilled your workforce is, the more productive it is. Employees also become more engaged and loyal when they regularly participate in professional development opportunities.
Employees also become more engaged and loyal when they regularly participate in professional development opportunities. In fact, LinkedIn’s 2024 Workplace Learning Report found that employees who feel they aren’t developing their skills are 10 times more likely to look for a new job, while organizations that prioritize internal mobility and continuous learning retain their employees nearly twice as long. Decreased turnover, combined with higher-performing employees, leads to increased revenue—making development a smart investment in both people and the bottom line.
Employees, of course, are all different. Some are self-motivated, while others learn better if they’re mentored or asked to participate in a series of topical trainings. Offering a variety of development opportunities delivered through multiple means helps ensure everyone on your team has a chance to pick up new skills in the ways that are most effective for them.
Here are some of the best employee development methods for small and mid-sized firms committed to realizing their teams’ fullest potential:
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Sometimes the most effective development tool isn’t a class or workshop—it’s real work. When managers notice skill gaps or when employees express interest in growing in a particular area, a stretch assignment can provide the challenge needed to accelerate development.
Stretch projects intentionally push the boundaries of an employee’s current role by assigning responsibilities that require new capabilities, problem-solving approaches, or leadership behaviors. According to Korn Ferry’s research on the 70-20-10 learning model, challenging job experiences—such as stretch and rotational assignments—account for roughly 70% of how employees learn and grow, making them the single most impactful development method. These hands-on experiences often produce deeper, longer-lasting learning than mentoring, formal training, or even increased exposure to senior leaders.
Stretch assignments can be:
Horizontal – broadening an employee’s skill set by assigning work similar to—but outside the scope of—their current responsibilities.
Example: Having a payroll specialist assist with implementing a new HRIS feature or participate in a cross-departmental compliance project.
Vertical – expanding the level of responsibility by moving work upstream or downstream from the employee’s current role.
Example: Asking an HR generalist to lead an onboarding program redesign or giving a high-performing team member responsibility for managing part of a project budget.
Examples of high-impact stretch projects include:
Leading a cross-functional team to solve a business challenge
Piloting a new product, service, or process
Managing a project that involves unfamiliar technology or stakeholders
Representing the company in a community partnership or industry group
Designing or improving a workflow that affects multiple departments
Standing in for a supervisor during an absence or transition
When structured well—with clear goals, support, and a manageable level of risk—stretch assignments boost confidence, build leadership readiness, improve engagement, and help employees gain visibility across the organization. For employers, they create a stronger internal talent pipeline, reduce turnover, and strengthen organizational agility.
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Self-directed online coursework, on-the-job training and tuition reimbursement are other ways you can foster employee development and differentiate your company in a highly competitive labor market.
Making employee development an ongoing part of your business processes creates a mindset of continuous improvement. That commitment helps employees continue growing and learning and rewards your company with a healthier culture, higher-performing workforce and improved bottom line.
For more information on how Axcet HR Solutions supports your business with strategy and organizational development visit our website.
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