Star employees don’t just appear out of thin air — they are nurtured by their employers. You can hire great people, but then you need to continue to invest in them. Doing so can help you build a flourishing team and a thriving work culture. Research shows that providing training opportunities can increase your retention rate by 60%. Simply by showing employees that you care about their career trajectory and advancement, you may be able to keep your top talent.

When you focus on growing your team members as individuals, you also grow your business. Leadership expert Lolly Daskal says that by providing your employees with opportunities to learn, grow and develop, you can help them improve their skills and abilities, and enable them to better contribute to your company’s success.

Want to know some ways you can invest in your employees’ growth? Keep reading this issue of PromoPro Daily, where we share five of Daskal’s suggestions.

1. Provide training opportunities. Everyone has room to grow and new skills to develop. As a leader, you can help drive this development by giving your team members plenty of opportunities to expand their abilities.

2. Create an environment of curiosity. Are you employees interested in learning new things? Encourage them to be open to new ideas ad approaches, Daskal says, and train them to seek out ways to learn and improve.

3. Give frequent feedback and support. By providing your employees with regular feedback and support, Daskal says you can help them understand their strengths and improvement areas. Aim to have discussions more often than quarterly or annual reviews.

4. Create opportunities for growth and advancement. No one wants to stagnate in their role. Think about how you can open up new avenues for your team members. What new challenges or responsibilities could you assign to them? This is a way to help them progress in their careers.

5. Develop new leaders. You can also invest in employee development by preparing the next generation of leaders. Give your staffers opportunities to learn and develop their leadership skills and abilities, Daskal says. Doing so helps your entire organization grow and thrive.

The people on your team are your most important assets. When you invest in their growth, you can help build a powerhouse team that’s loyal and engaged.

Compiled by Audrey Sellers

Source: Lolly Daskal is the founder of Lead from Within, a leadership firm. She’s also a leadership coach, consultant, facilitator, speaker and author.