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The success of a business is defined by its willingness to grow and evolve to meet the changing demands of their clients. But such growth is determined by its employees, so it is vitally important the businesses invest in their workforce too.
Many organisations are recognising the benefits of nurturing the career progression of the individuals they employ. Internal culture has changed too, employees are changing their perceptions on what incentivises them to remain within an organisation.
In this article, we take a look at how to attract and retain the employees who will ultimately grow your business to meet the needs of stakeholders.
In our current business climate, it is simply not enough to recruit people on the basis of salary, and keep them stagnant in the same position for years on end. The best employees are the ones who continuously look to cultivate and develop new skills, resulting in the career progression. If a business stagnates and fails to provide opportunities for professional growth, a good employee who knows their worth will easily shop around until they find an organisation that will meet their need to be challenged and motivated on a daily basis.
Remember that it is the people you employ who are the foundation upon which your business success is built. Aim to keep exceptional employees - those who have demonstrated a proven track record of enabling business growth - moving through the ranks in a way that acknowledges and rewards their hard work and dedication.
The progression of your business should be used as a yardstick upon which to evaluate and propel your employees who are the driving force behind your growth. When a business moves forward, so should the people who have contributed towards the growth and success of your business. One way to facilitate employee growth is through promotion. For example, if your company starts off with four employees who have dedicated their expertise towards the success of your business over a substantial period of time, you should aim to promote them as you bring in and train new employees to cover the workload resulting from the growth of your organisation.
Money is great, but what value does it actually have if one is overworked and unable to enjoy the fruits of their labour?
If you want your employees to excel in their role and grow your business as result, you need to offer lifestyle perks. Depending on your budget, you can offer a top performer multiple rewards for their efforts and subsequent results - such as a day off or a night away. This also won’t alienate those who are perhaps lagging behind somewhat in generating income and retaining profitable relationships. Instead, it will motivate them to improve their performance in order to achieve the lifestyle perks too!
While certain details around business growth should be kept confidential in the development stages, you should aim to involve employees in the vision and direction of your business. Within reason, transparent leadership is essential to fostering a culture of trust and loyalty between leaders and their employees.
Employees who understand their role in the grand scheme of what the business aims to achieve are not only more likely to put trust in their employer, but also put their best foot forward because they will be motivated to contribute their own unique skills, talents and responsibilities towards the overall growth of the business.
When employees have proven themselves to be leaders in their fields, you should structure growing teams around the experience and expertise of your top performers. While this may sound like a hierarchy, it is an effective way to motivate exceptional individuals within your organisation to continue contributing towards the success of your business on a more strategic level, and training others to take over the more field-based roles they held previously. Not only will this enable you to retain your top performers, but also increase your number of employees who will greatly profit your business.
Mutual trust plays a central role in engagement and retention. Below are some top tips for both managers and employees to uphold a relationship built on respect and trust!
Remember that trust is a two-way street: In recent years there has been a shift from hierarchal management structures to a more consultative and collaborative approach. In order for your employees to respect and trust your judgement, you need to show them that you value their insights, needs and ideas as well.
Avoid micromanagement: Breathing down someone’s neck over tasks or projects implies a lack trust which often breeds resentment, demotivation and reduced productivity. You need to allow employees to take ownership of their responsibilities, as this will motivate them to deliver rather than disappoint.
Be honest and consistent: In the world of work, there is nothing worse than a manager who expects a certain standard of performance from their employees, yet fails to lead by example. To build trust, you need to be an honest leader who consistently upholds the company’s vision and standards. You must also deliver on the promises you make to your team.
Understand his or her goals: All employees should know their direct manager’s goals, objectives, and desired outcomes. If you aren’t clear on those things, you should set a time to have a one-on-one meeting to fix that. Why? Because everything you do at work is directly tied to the strategic vision of your manager. By understanding his or her goals, you’ll be able to see how your work ties into the group’s success.
Anticipate his or her needs: Once you understand your manager’s goals, you’ll be better equipped to anticipate his or her needs. By asking for what your manager needs before he or she thinks to ask you for it, you’ll make a welcome contribution—without looking like you’re insincerely trying to butter them up.
Tell him or her how to best use your talents: Research shows that great managers uncover what’s unique about each person on the team—and then encourage each individual to contribute their unique strengths towards the overall performance of the team. In order for your manager to achieve this, you need to tell him or her what your talents are and how you can use those powers for good in the organisation.
Whether you're looking to kick-start your career, or just simply contemplating a job switch, give us a call! At Search, we recruit for a wide range of roles within a variety of sectors which you can view and apply for today!