Investing In Employees: 7 Business Tips To Get More From Your Most Valuable Resource

The employees of a business are its most valuable resource. Without them, all productivity grinds to a halt and your company has no chance to grow and thrive. By making small investments in your workforce you can create a stronger, more reactive business that has the tools it needs to excel in any marketplace. Here are seven crucial business tips that can help you get more from your employees.

Develop Their Skills And Knowledge

The quickest and most cost effective way to invest in your employees is to empower them through training and education that gives them the skills and knowledge they need to thrive in the workplace. Many employees feel undervalued because their employer does not encourage them to develop themselves and learn new skills. Training and development from 1ovmany can help your employees to understand their role in the business, the organisational objectives you have, and how they can play an important part in your sustainable business strategy. They can coach your staff and empower them with valuable skills that will turn your workforce into your business’s most valuable asset.

Clear Up Communication

No matter what type of business you operate, or its size, communication is a key element of success. Without it, employees may struggle to understand the business’s goals and objectives or be confused about the company’s position in the marketplace and its customer’s expectations. Regular, clear, and open lines of communication between the shop floor, through middle management, to the top echelons of the business will help your company grow and make your employees feel valued. Happy workers are productive workers, and giving your workforce a clearer understanding of the business and its customers helps to create job satisfaction, leading to increased output.

Flexibility For The Win

People are struggling to find a work/life balance, and by introducing flexible working terms to your workforce you can give them the space they need to manage their lives more effectively. This can have a dramatic effect on workplace morale without suffering a drop in productivity. On the contrary, workers who have access to flexible work schedules, work from home opportunities, or hybrid working schemes, often become more productive. This simple switch can allow your company to do more with less, helping you to reduce overheads while maintaining the same level of output.

Delegate Responsibilities

Micromanaging at any level of a business negatively impacts its ability to grow. When a business is a startup, managers, owners, and investors often have to be involved at every step of production to ensure the company is heading in the right direction and maintaining standards. Beyond this period, micromanaging processes and the workforce can do more harm than good, with many workers receiving contradictory information or instruction. When your business has grown past a startup to an SME (Small to Medium sized Enterprise), you have to begin delegating tasks to supervisors and department heads so you can focus on the bigger picture.

Two-Way Feedback

The secret to continuous success in business is continuous feedback. You need to be able to give your employees the feedback they need to become stronger and more efficient workers, and they need to be able to let management know about their experiences and where they see room for improvement. Feedback needs to go in both directions to make a business better, and let employees know that their perspectives, skills, and experiences are valued by the company. This can lead to incredibly valuable insights that can change the way you do business for the better.

Involve Employees In Their Development

Every employee should be given the opportunity to help create their own professional development plan. This can act as a map to help them navigate their journey in your company and will help you to identify highly motivated and ambitious workers who see a future working for you. With your help, they can establish goals based on their strengths and experience while also identifying their weaknesses and developing strategies to help them overcome them. These goals and strategies should work within your company’s existing frameworks and include certification and promotion opportunities where they are appropriate.   

It’s Not All Work, Work, Work

When individual employees or whole groups or departments hit their targets and achieve their goals they should be celebrated. If people are not recognised for their hard work, they soon stop working hard. Their success is your success and vice versa. By identifying your high achievers you not only reward your efforts but you inspire the rest of the workforce. They will understand that they are valued, and that hard work brings more than just a financial reward. An ‘Employee of the Month‘ scheme can help, but it should be more than just a scheduled recognition and include rewards like vouchers or extra days off.

With an empowered and happy workforce, your business will experience unprecedented growth and profits. By using these tips you can get more from less, and push up your productivity and profitability to new levels while creating a positive work environment that empowers its employees.

Photo credits: Coworking London