Advantages of Career Development & Training
Career development is an emphasis on employee training intended to help an employee meet his personal career objectives. By coaching and developing an employee to develop skills for the position he wants, companies typically see a higher level of commitment and better retention from its key employees.
Separation
Employees who take advantage of training and education programs offered by employers for career development tend to outpace their peers in learning skills needed for advancement. Some companies require that workers complete certain training programs or workshops to become eligible for a promotion. Others simply convey to employees that they must develop the requisite skills before a promotion would occur. Employees who participate not only learn new skills but they show commitment to their managers.
Talent
Companies with strong career development programs generally attract more talented employees. This benefits the organization and workers because it elevates the general level of knowledge and competence. Working with other capable professionals inside the company is motivating for employees. When each person understands her role and the responsibilities of her department to the organization, a mutually supportive, synergistic environment emerges. A culture of knowledge also challenges each employee to learn and grow.
Succession Planning
Succession planning is a proactive effort to development employees to take on leadership roles when current employees retire. These plans help the company maintain stability in its work force and production. It also helps employees plan for the future and more easily envision their career advancing in the same company. When employees are developed for an internal role, they are less likely to explore promotional opportunities outside the company.
Higher Achievement
An emphasis on career development and training protects against a stale work environment where employees get comfortable in their current roles and don't reach their potentials. Goal setting helps employees focus on gaps between their current abilities and those they need to acquire to succeed at the next level. Ongoing training opportunities help fill these skill gaps; they improve opportunities for promotion and give employees more satisfaction and engagement from their work.
Sources: http://work.chron.com/advantages-career-development-training-6783.html