Investing In Your Employees Is Fundamental To A Successful Business

YOU HEARD IT HERE FIRST…

Okay, you probably didn’t actually hear it here first. You probably heard it from Richard Branson first. If you’re anything like us then when you hear the words ‘investing in your employees’, your brain naturally thinks about Richard Branson. Well, that’s where our collective brain went anyway, and here’s why!

The reputation he has gained for the way he treats his employees combined with his infamous quotes demonstrating his strong beliefs on how this can benefit a business are sought after by many businesses trying to achieve relative levels of success. But his success has not come by chance, his empire has revolved around understanding the importance of people and how treating them well and investing in each employee can achieve success.

Take this quote for instance…

It makes sense and is simple enough to understand. But in truth, is much easier said than done.

Whilst Richard Branson isn’t referring to investing in digital marketing skills specifically, the principles are the same. When you invest in your employees, they are more likely want to continue working for your company as they feel valued, are reaping the benefits from achieving their personal development goals and as a result, the company benefits from the skills they are able to provide through their continued growth.

Being able to adapt to and implement digital changes requires the continuous development of skills and knowledge from a digital marketer. In a digital environment, there is no substitute for learning more and upskilling, especially being on top of the latest trends, developments and algorithms.

BACKED UP BY EVIDENCE

Millennials and Generation Z are disrupting the workforce through different expectations and skill sets. Studies show that 43% of millennials plan to leave a job within two years of being there and only 28% plan to stay beyond five years. This is very different to older generations, where it was more common for people to stay in the same job for the much longer. Retention problems can be off-set by investing in the people within the business and giving them a reason to stay. The Digital Marketing Institute have proved it with their numbers and results. “81% of people achieving the professional diploma in Digital Marketing were promoted after earning their certification”.

There is a clear need for people with digital marketing skill sets within businesses worldwide as explained by the Digital Marketing Institute’s CEO Ken Fitzpatrick who states, ‘to be successful in 2020 and beyond, a culture that promotes professional development, upskilling, and reskilling is going to be just as important in digitisation as emerging technologies, effective strategies and increased budgets.”

According to Forbes, making strategic investments in employee developments is crucial for success and this is especially relevant for digital marketers as the World Economic Forum estimates that by 2022, 54% of employees are going to need significant training in technology. This requires investment in employees to ensure their skills are relevant and adding the most value for a company.

It also requires a recognition and investment from employers, PWC conducted research of 12,000 employees worldwide and 46% identified their company doesn’t value employees who are technologically savvy. People want digital marketing skills, there is a demand and willingness to invest time in learning, so it is essential for success that businesses capitalise on the opportunities using digital marketing can provide.

INVESTING IN DIGITAL MARKETING SKILLS

The need for people with digital marketing skills is rapidly growing, especially as it has been highlighted there is big skills gap problem (read more about the skills gap here). Digital marketing is a continuously changing field that requires the best and most up-to-date talent. There is a demand for knowledge and people are driven to learn and progress their skills, so it makes business sense to help them do so. Investing in employees with the right skills that understand how digital marketing can benefit your business will add huge value, at the same time investing in their personal development will retain them for longer.

Just a few of the many ways digital marketing can add value to your business include:

  • Reaching larger targeted audiences in a cost-effective and measurable way, focusing on returns on investment
  • Wider exposure on the platforms that your audience use and increases in engagement
  • Taking a personal approach and enhancing the customer experience
  • Being able to compete with larger competitors

So just one last quote from the true expert…

and you won’t go far wrong! People are willing to learn, it is mutually beneficial as the knowledge and skills they will gain will not only help their individual, personal development but it will also help grow the business in a way that simply isn’t possible without these skills in today’s ever-increasing digital environment. Remember our Digital Academy is here to help!

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