3 Simple Reasons to Invest in Your People
Here’s the conversation: “We should nominate so and so for the Rising Star award in our industry association.” The response, from the head of the business, “Why would we do that? So our competitor can steal them? No, no nomination.” What narrow, short-sited thinking.
How about, because they are a rising star and to get this acknowledgment in the industry will bring accolades, clients will be even more likely to work with us, and the individual who receives the award will be more likely to want to continue to excel for our company. All too often management sees developing and investing in its people as an expense, as a reason the competition will steal away the talent, as some, well, ridiculous reason not to do it. Not developing your people runs the risk of having mediocre talent with either the wrong skills or underdeveloped skills not being able to do the right work at the right time.
3 Simple Reasons to Invest
How about developing and investing in your people is about:
- Having the best talent for your business,
- Knowing how to do the best work possible, and
- Being able to deliver outstanding service, results, products to your clients all of the time.
The result of this investment is usually increased profits, revenues, more clients, and happier employees. Can you really afford not to develop and invest in your people?
As Josh Bersin predicts “In 2014 companies will aggressively redesign their appraisal and evaluation programs to focus on coaching, development, continuous goal alignment, and recognition.” His Forbes article stresses that 2014 is the year of the employee. With a fractured marketplace, globalization, and intense competition having the best and brightest doing the best possible work for you and your clients is just the price of entry.
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As the CEO & Founder of East Tenth Group, Michelle leverages 25 years of business and experience as a strategic advisor and executive coach to help drive actionable people solutions and provide practical insights on business strategy to senior leaders. she and her team and are fiercely committed to the development and growth of people and companies because we believe that when people thrive, business thrives.
