A Small Investment Can Pay Big Dividends In Making Your Employees More Effective, Energized and Engaged
A recent Bain & Company macro trends analysis discussed in the Harvard Business Review argues that financial capital is “relatively abundant and cheap” compared to the scarcest resource of all: talent. “Time, whether measured by hours in a day or days in a career, is finite. Difference-making talent is also scarce.” Retaining top talent in the marketplace and integrating them into your culture, oftentimes means continuing to onboard them through their career.
Hunting for talent in a seller’s market creates a bidding war for few, expert workers. For a small investment—the ongoing commitment to developing the skills within employees you’ve chosen primarily for their cultural fit within your corporate identity—you can guarantee every member of your workforce is at his or her best.
Here are three ways to invest in your top talent.
1. Provide onboarding for a smooth transition
Never lose sight of the fact that your new employees were carefully chosen for a reason. You’ve combed through qualified candidates to find the perfect fit for your open position and your company’s overarching values. Double down on that investment with an onboarding process that equips new team members with the skills they need to succeed and the inspiration they need to achieve. Ensure that your company’s mission is clear and reinforced, and set SMART goals from day one: goals that are Specific, Measurable, Achievable, Relevant and Time-bound. In a supportive workplace, each goal met will propel your employees forward towards further accomplishments.
2. Participate in team workshops
It’s a cliche for a reason—there is no “I” in “team.” Trust and accountability are a two-way street, and managers that interact with their subordinates and treat them as equals earn the respect and admiration of employees who aspire to positions of leadership themselves. It’s the Trust Through Transparency model we stand by: a set of simple but effective tools, like direct and open employee-CEO/manager dialogues, that make sure everyone is always on the same page.Team workshops can also provide co-workers and their supervisors with valuable insight into the strengths and weaknesses of the individuals they work with. At Carver Peterson, we’re advocates for Gallup’s StrengthsFinder 2.0, a model that combines employee development with validation from leadership to reinforce employee value. But don’t be frightened off by the thought team-building—you don’t need to plan a week-long retreat or an obstacle course workshop to develop your team or show that you care. It can be as simple as giving and receiving feedback and making meaningful conversations a priority.
3. Offer training programs for continuing education
A smart entrepreneur learns early on the power of small, smart investments to generate big payoffs. That philosophy applies to your talent capital just as it does to investments of your money. Investing in your employees’ skills, both as individuals and as a team, will pay dividends immediately, amplifying their expertise and their loyalty. Provide hands-on training sessions and on- and off-site workshops. Offer incentives for your staff to seek out educational opportunities of their own, and don’t shy away from cross-training skills from complementary departments. A non-seller who understands lead generation will work better with your sales team than someone who doesn’t.
You now understand the value of investing in the people that make your business great. At Carver Peterson, we can guide how to make the right investments with the biggest payoff. Check out our training solutions and SMART-based performance management goal programs today.