Why Early Career Development Programs Can't Wait for Better Times
Recently overheard... "The job market is tough right now. Employees aren't going anywhere, so we don't need to invest in early career employee development."
I understand the logic. When budgets are tight and employees are stuck because the market is tough, early career development programs, and even employee development in general, feel like an easy cut.
What You're Actually Buying With That Decision
The short-term savings are real. But the costs show up eventually.
As companies cut development budgets, they are sending signals. People are wired for the growth. The growth I see often comes from the connections infused in cohort-based learning experiences and the encouragement from a facilitator who believes in them.
When employees sense that they don’t matter in the tough times, something quietly shifts. Engagement drops. Discretionary effort shrinks. The best people, the ones with options, start paying attention to what's outside. The ones who stay start coasting.
You might not see it this quarter or even this year. But it will happen. I saw it in 2008-2012 during the financial crisis. And I’m seeing it again.
Even when the budget comes back, the positive engagement and ROI of your workforce may not. Gallup has research that shows this: “companies with engaged workforces […] recovered from the 2008 recession at a faster rate.”
The Kodak Problem
I was thinking the other day about Kodak. A company so strong and powerful for decades, who quickly lost everything. As I was reading this article, Lesson #3 hit home:
“3. Don’t Let Short-Term Gains Undermine Long-Term Success
Kodak’s decision to prioritize short-term profitability over long-term sustainability cost the company dearly. Businesses must be willing to sacrifice short-term gains to invest in the future.”
Companies that stop investing in their people during hard times don't just risk losing employees when the market turns. They risk something bigger — becoming irrelevant.
Kodak didn't lose because because they weren’t capable of winning. They lost because they didn’t understand how to invest in the future.
Early career development programs aren't a reward for good times. They're how you build the leaders who will carry you through the hard ones.
Invest in Early Career Development Programs
The good news is that investing in early career development doesn't have to break the budget. Sometimes a few well-designed workshops are enough to build momentum, engage your cohort, and send a different signal to your people.
Take a look at the Essentials Series and Leadership Series from TaberNext. Plug and play options based on different levels of investment. We can also discuss designing a program that will best meet the needs of your early career employees and the business.