Growing Your Business? Invest in Your WorkersPosted by Factor Funding Co. on August 20, 2014
The adage “Actions speak louder than words” should hold significant meaning when you contemplate some of the best reasons to invest in your employees. In many ways, your employees are the greatest assets that you and your company have at your disposal. When you make an investment in them, they can, in turn, provide your company with unique advantages that elude your competitors. As you discover new ways to show your workers that they are an invaluable part of your team, you can expect to recoup these benefits in return and enjoy new levels of success as a business owner.
Increased Productivity and Stability
Positive reinforcement can be a powerful motivator. Giving your employees the recognition that they deserve can give them ownership of their efforts and help them build their own personal brands within your company. When they are recognized for being the best at what they do, they will take pride in their work and put more effort into making themselves and your company a success. As they build their own brand within your company, you can expect in return to see new levels of productivity and stability. Your company will earn a positive reputation, and you will gain a reputation of being a fair and compassionate employer.
Some employers fear that too much positive reinforcement and thought leadership can work against their companies. They are afraid that their workers will become overly confident and seek employment elsewhere. However, investing in your employees is one of the best ways to foster loyalty among your team. When they know the value that you place on them, they will want to remain with your company where they know that their efforts are well received and appreciated.
Further, when they are allowed to create their own corporate networks and build a brand that represents their individual talents, your employees will gain the confidence that can only work in your company's favor. You can take the first step as their employer to help them establish networks by introducing them to influential people in your own corporate circle of friends and acquaintances. By doing so, you demonstrate that you want the best for them and that you trust them to use these connections to their advantage, especially their advantage as a member of your team. This openness likewise shows that you want to keep the lines of communication open between you and your employees.
New Opportunities and Discovering Hidden Talents
As capable as you may be as a small business owner, chances are that your employees all have talents that you lack. When you invest in them and give them the leeway to unleash their creativity, you very well could discover hidden talents that will make your business more successful. Toeing a rigid corporate line forces workers to mute the very skills that your company needs to stay competitive and profitable. As you lead your team, you can make an investment in them and your business by encouraging them to use their talents to help all of you discover new opportunities for growth and profit that may otherwise have been eluding you.
Moreover, your investment in your employees should not be bound by the clock on your wall. When the end of the business day arrives, you can still invest in your team by having after-hours meetings, hosting family nights, or sponsoring trips that, albeit work-related, also foster a sense of fun and camaraderie. By providing extra incentives that are sure to become the envy of the corporate world, you will retain your team longer and in return enjoy the success, growth and profits as a business owner.
These three key benefits show why investing in your employees is important. By taking the initiative to build up your team of workers, you can expect to enjoy new levels of success and profitability.