Part of having a business or running an organization is being intelligent with where you invest. Whether it’s marketing and advertising, or product development and research — investing allows you to pull in more profit and expand your company.
However, many business leaders often forget to invest in their employees with 85 percent unhappy at work. This shouldn’t be the case, as your employees put their time, energy, and talents into helping your organization achieve success. Failing to appreciate and keep your employees engaged will spell disaster for your organization. In this post, we’ll discuss the many reasons why you should invest in your employees.
It Enhances Workplace Productivity
Many organizations encounter issues with productivity if they fail to keep their employees engaged and motivated. An easy way to maintain employee engagement is by investing in initiatives — such as team-building activities, weekly check-ins, and collaboration opportunities. On top of this, a Gallup study reports that highly engaged teams result in 21% greater profitability for businesses. Aside from increasing company morale and productivity, such initiatives can also develop your employees’ soft skills — which they can use for the betterment of your organization.
It Reveals Future Leaders
In our previous post ‘Climbing the Ladder of Success,’ we talked about how everyone wants to achieve success and reach the point of respect and admiration in the workplace. What’s great about investing in your employees’ careers is that this will encourage those with leadership potential, so they can eventually take charge of your future workforce.
For instance, you can train employees in formulating strategies, sorting budgets, and managing teams across departments. This may unlock their capabilities as an operations manager, which is one of the most in-demand careers in business administration at the moment. According to the Bureau of Labor Statistics, employment for this role is at 2.19 million, and you can get ahead of the demand by cultivating employees with potential to take on this job. There are several other leadership roles in your company that your employees can step up to as they become more experienced. As a business leader, it’s your responsibility to provide development opportunities to your employees. If you want your teams to grow and help your company reach its goals, be sure to figure out the best initiatives that can help them move forward.
It Reduces Employee Turnover
The great thing about investing in your employees’ careers is that you allow them to better manage themselves and work independently. This is important as organizations that don’t help their employees advance will suffer from impeded efficiency. What’s more is that employees who aren’t skilled enough to finish their tasks without making mistakes often have to rely on their bosses to guide them. Unfortunately, this will lead to micromanagement, which is a top cause of employee turnover. By investing in the proper job resources and intensive training, you can equip your employees with the right skills and knowledge and allow them to perform their best at work.
Article specially written for theconnexusgroup.com by Alanna Riley