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Why You Should Invest in Your Employees

Posted on March 18 2015 | Author: Mary Dimou

You’ve found yourself at the head of an enterprise; you may be at the stage where you’ve just recently scaled up your business or perhaps you’re undergoing expansion. Either way, it’s time for you to assess your resources, manpower, and finally, start making critical decisions for your company’s future. For that, you will need a dedicated team behind you that you can trust to operate collaboratively and effectively, while providing the appropriate level of support to your customers.

It is important to strategize how to maintain that trust with your seasoned staff as well as begin to develop that trust with new hires.

This is a matter of opinion and the methodology is uncharted; but as a small operation, the salaries you can offer are likely not competitive with large corporate counterparts. The challenge becomes deciphering what you can offer that is unique to the small business environment to entice your new hires and sustain your loyal staff. The truth is fairly straightforward; you can invest in both their professional and personal growth.

Here are a few critical points to consider while you are moving into this next step and recommendations to overcome these hurdles:

  1. The job market is perpetually changing. New graduates are entering the market with more credentials than their predecessors. This means a highly competitive applicant pool to choose new hires from; but on the other hand can translate to your current employees feeling pressures and insecurities. Diminish this by being proactive. You may consider creating a small allocation of your capital to a Professional Development Fund for each employee; or embark on creating company-wide training initiatives for all employees’ growth.
  2. Nurture them to be a resident expert in their field. Allow your employees to assume leadership roles on company initiatives and inspire them to share ideas of their own. Promoting an interactive and safe environment can stimulate creativity that could have positive effects on your current process efficiencies. Further, allowing your employees to work within interdisciplinary teams, or allowing them to shadow other positions in your company, can aid them in finding their niche. Once they have, take the time to plot a career path to alleviate any ambiguities about where they currently are in the company and where they could be.
  3. Support their network development. Encourage your team to expand their networks. Why? A greater network will contribute to greater self-assurance, confidence in their performance, and their opportunities to encounter relevant information. It’s imperative to keep your employees at the forefront of industry adaptations and educational criteria. As their employer, attempt to help them stand out in the crowd by introducing them to influential people in their expert field. You may even consider creating a Mentor Match program for your new employees to expedite their learning curve.

Ultimately, an employee that feels appreciated and invested in can be one of your greatest assets. A small investment, (be it monetary, time, or both) improves the productivity and workflow of your company; creates a champion in your corner, and can reduce your turnover rate. Consider what this could mean for your company and assess the amount you can allocate to employee development. 

Mary Dimou, M.Sc.
Business Analyst, Food Nutrition & Health

Photo Credit: Project Resource

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