Small businesses are concentrating too much on growth and neglecting employee training and development support.
That is according to research by breatheHR, which showed that almost half of all employees surveyed (47.6 per cent) feel their boss does not provide them with the support they would like in order to excel in their roles.
More worrying is the fact 27.9 per cent of staff members have never even discussed training or personal development with their employer – meaning they conduct day-to-day business without any long-term focus.
For smaller businesses with little spare cash, spending money on coaching may seem like an expensive and unnecessary luxury. However, lack of support from the top could mean that ultimately employees do not feel motivated and productivity may be affected as enthusiasm wanes.
If companies took time out to evaluate the benefits of such measures, they would see that investing in the development and training of staff has numerous advantages.
Jonathan Richards, chief executive officer of breatheHR, said: “The results clearly show a fantastic opportunity for small to medium-sized businesses to gain competitive advantage by spending time developing employees."
In addition, the research also highlighted that employees who are given more support and a concrete development plan feel more engaged at work.
The good news is that it needn't cost a fortune and with relatively little effort companies can increase employee engagement, gain a competitive advantage and reduce costs at the same time.
For example, teleconferencing is an inexpensive way to conduct coaching sessions and can bring all your employees together in one go.
Instead of spending money on hiring a meeting room, providing refreshments and printed documents, overheads can be cut by implementing the use of conference calling technology.
Not only is it a cost-effective alternative to regular meetings, it also allows people in different geographical locations to attend without enduring long commutes. This in turn means that companies do not have to fork out for travel-related expenses and can reduce their carbon footprint.