Importance of employee development programs in business

PurposeThe importance of employee development programs (EDPs) has been evolving as businesses continue to change and employees continue to have different motivations. Understanding what motivates employees to continue working in a company can help managers have a more successful future. The relationship development between employees and managers can be more easily achieved with an established EDP with goals and motivations communicated. Both employees and managers can influence a positive culture. The authors use the social exchange theory (SET) to help explain this process.Design/methodology/approachA review of previous research was conducted. Looking through the social exchange lens, the authors developed practical implications of best practices for employee development (ED).FindingsFindings of this study should guide organizations to develop, improve or maintain effective EDPs.Originality/valueThis paper uses social exchange theory to foster best practices for EDPs.