The internal structure of a successful business is built off of a strong foundation. Consider a building, without a strong foundation, over time it may crumble; this also holds true for the structure of a business. While managers and VP’s are often viewed as the most important components within an organization, recent studies are shedding light on the importance of the employees, and the direct effect they have on the success of a business. How can you ensure the foundation of your business is strong and successful? Simply, take the opportunity to invest in your employees.
Improve Employee & Workplace Morale
Investing in employees provides them with the secure feeling that the organization they work for views them as more than just a “worker”, but a valued asset to the company and its path to success. When your employees feel as if they have a purpose within their position, morale and motivation can improve drastically. The workplace is where employees of different levels are spending a majority of their time throughout the day; it is important that the morale within this environment is high, and providing employees with a positive workspace.
Boost Company Reputation
Similar to the detriment that can result from an angry customer, an angry employee with low morale and negative feelings towards the company can also come with an unfavorable impact. Investing in employees and their happiness within the organization improves the way employees feel about their workplace, and warrants positive reviews, feedback, and employee referrals.
Decrease Turnover Rate
One of the greatest fears that C-Level executives often experience, is a high turnover rate. The turnover rate within an organization is one of the first factors potential candidates look for when they are seeking employment. A company with a high turnover rate can be interpreted as an organization that does not take care of their employees or has a failing internal structure. Investing in your employees and creating a job that they want to be, improves the chances of retaining valued employees that a business is built off of.
Train Employees Properly
Proper training for employees should not only be provided upon the completion of the hiring process but also throughout the course of employment. New hire training programs should always be implemented for all candidates to participate in. Engage new employees throughout training to keep the interaction moving and avoid redundancy. Invest the necessary resources into developing a strong training program that will successfully prepare new candidates for their appointed positions. Furthermore, there is always something new to learn. Offering continuing training sessions or seminars for employees can assist in keeping skills sharp.
Adopt Employee Development Programs
Employees in a successful business are on a continuous development process. Invest in employee development programs that are proven to not only benefit the organization itself, but the employee as well. This can be done in a number of ways. Work on an employees development individually by tracking progress, current and future goals, and providing strong and accurate performance feedback. This will assist employees in their personal development within their position.
Invest Personal Time
Within leadership best practices, it is important to understand the job may not end exactly when the day is over. Successful leaders often invest a significant portion of their personal time into their employees. Forbes contributor, John Hall, states, “When my co-founder and I started Influence and Co., we invested a lot of time in each employee. We made it a point to take employees out to lunch, include them in business trips related to their areas, and spend time with them outside of work.” Take the time out to get to know employees and create a trustworthy relationship.