Employees are an integral part of a company. Their growth is directly linked to the growth of the company. Their skills and experience are what translate into a better product. With todays ever-changing marketplace, often and rapid improvements to a product have become essential. This means that the employees who work on these products have to be on the same level as the market. And technology is changing so fast that by the time you graduate from college with a specialization, during the four years that you went to college, it has become obsolete. Constantly reading up on new technologies and taking courses is the only way you are going to stay updated.
Many employers make the simple choice of just replacing an old employee with a new one. It becomes hard when you think about what the old employee has contributed over the last few years with your company and the level of experience he or she has, which can be helpful in the long run. So what do you do? Help them find job-related courses that can help them gain the skills that they need to counter new emerging technologies. Employees who train themselves all the time have the advantage over others and are more satisfied in their occupation. They are also the ones who stick with the company the longest. Always encourage employee growth by offering tuition reimbursement and awards inside the company like "employee of the month".
Setup "mentor" programs within your company that can help the new employees who join your company in understanding the workings of your company better and more effectively. The mentors should show the newbies how to get the most out of their job and encourage them in going for their best. Programs like these help employees feel better about themselves and the workplace. Everyone needs help sometimes but very few people voice their concerns. By encouraging every employee on the individual level, you are building a strong organization.
The best way to encourage employees to grow is to promote from within the company. This way others can see that you reward hard work and ambition.