When thinking about your business, thinking long-term is always to your benefit. This includes investing in your people.
While it’s common sense to invest in your people, it’s easy to ignore this part of your business, in favour of what may seem like more pressing and critical issues.
But, the care that you provide your people will determine your bottom line—whether that be top profits or exceptional service. (If you’re a savvy entrepreneur, then you’re striving for both.)
In the long run, investing in your people is a crucial component to growing a healthy business.
The long-term economic benefits of treating your people well goes without saying.
If your people feel taken care of and secure, they are more likely to produce better work. Better work equals more customers and more loyalty and trust from the customers you are already serving.
Think about the work you’ve done while you were in corporate.
When you were performing at your best, chances are it was due to the trust and security you felt from your employer as well as the synchronicity you felt with the management team.
With a more happy and enthusiastic team, you’ll also encounter fewer problems between staff and you’ll have less mediocre work to sift through. This inevitably causes less money shelled out by you to fix mistakes and sheer negligence.
Creating a development program is the perfect way to begin investing in your employees.
With a development program, you can design an effective and valuable accountability system that retains and develops the kind of people that you want. This is your opportunity to create and attract the type of leader you’re looking for.
This is by no means a quick and easy, or even simple, process. But, with clear goals from your end, and accountability on both sides (i.e. you and your people), you’ll begin work on a system which seamlessly develops and retains the right kind of employees.
The fact that you have an employee development program to begin with shows your stability and deep interest in your people. You’ll also be attracting the kind of person who is interested in developing themselves and becoming better.
A person who is actively looking to get better is definitely what you’re looking for.If you take care of your employees, they will take care of the clients. Click To Tweet
Another crucial reason for developing your employees is because you inevitably will have to promote some of them if you want to grow.
With company growth comes an increased number of openings for managerial positions. And, quite frankly, it’s much easier to promote internally.
First of all, people feel like there’s room to grow not just personally but promotion-wise. The more people feel confined to their current position, the less they’ll strive to get better.
Why would they, if their efforts to improve will yield no results?
In this way, adding more to their plate wouldn’t benefit the business and would only further mediocre work.
Related article: 9 Powerful Productivity Hacks
Second of all, internal promotions create a much more seamless integration. Your employees are already familiar with your business operations as well as their fellow employees. There would be no need to train them or for them to endure a period of acclimation.
As an owner, the more your company grows the more removed you’ll be from your clientele. This also means less time with the employees taking care of that clientele. You wouldn’t be able to take care of everyone—it’s just not effective or healthy for you or the business.
So, don’t just develop your employees, develop your future leaders. Your managers will be the ones working directly with your employees on a daily basis. Trust your management enough to pass on the message and clarity of your vision.
Related article: If You’re Not Helping People Develop, You’re Not Management Material
A final and profound reason to develop your employees is retention. Here, we come to the fact that it’s simply not enough to offer an employee development program and some benefits.
You’ve got to know and understand why it is that your people stay with you and your company.
How is your company different from other companies? In fact, how are you better in terms of taking care of your people and offering valuable and needed service?
Can you list some of the reasons why your people would feel compelled to stay and give you their best? By hiring them, you’re asking them to spend their career building and developing your dream. Don’t take this lightly.
Another profound question to ask yourself is, Would you stay with you?
This may be a more personal and hard-hitting question but if you’re not the type of leader you yourself would follow, why would anyone else?
Investing in your people is a crucial component to growing a healthy business. #BuildLiveGive Click To Tweet
Now that you know and understand why we should invest in your people, here are some helpful pointers to get your development program headed in the right direction.
To get the ball rolling with your employee development program, offer incentives to get people intrigued and give your people access to practical resources which can be used right away.
Depending on how you’d like to create your development program, you should try including personalized courses or clinics to hone in on your employees’ various skills and strengths.
Also include some skills clinics that would optimize how your people work together as a team. This is probably best compartmentalized by department and then by client project, depending on your operations.
In these programs, include individualized and team progress reports. Make them practical and easy to read and interpret. You don’t want the report to have your people feeling like they have another “assignment” to go over and review.
Another component you can do in these programs to set yourself apart is to be willing to receive some progress/evaluation reports yourself.
If your people feel like you are unafraid to be vulnerable with them and willing to get better also, then they are more likely to share in your business victories and give you their best.
Also, be sure to have meaningful functions and fun events outside of work. These kinds of environments lend a hand in creating a family-like atmosphere back at the office.
There’s nothing more valuable than the feeling of knowing that your teammates and employer have your back.
Related article: 8 Key Tactics for Developing Employees
Lastly, monitor your program attentively, especially in the beginning. You want to make sure it’s actually working!
If people can trace their success at work and their own personal development back to your employee program, they’re more likely to keep coming back. You’ll also have an accurate way to assess your business’s progress as a whole.
You’ll definitely be able to brag about this during the hiring process. You can show a tangible track record of success for individuals at every level of your company.
A surefire way to developing your people is by you yourself being an admirable leader. Be the leader you’d like to have in your business.
Corny, but true.
This goes back to asking yourself those hard-hitting and personal questions. If your people don’t see anything they wish to emulate, they’ll have no reason to push themselves further and might even feel there’s no reason to stay.
Your business begins with you. How you want your business to look like directly relates to who you want to be.Be the leader you'd like to have in your business. #DevelopYourEmployees #BuildLiveGive Click To Tweet
The principle of taking care of your people is definitely based on your personal and company values. It’s worth the time it takes to review your principles and values if it will build a strong company in the long run.
Think about the kind of reputation you’ll build in your industry not just on the client front but among critics and prospective employees.
Your business will quickly become a lucrative company to work for.
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