SalesSpire Blog

The Best Investment for Your Business

Feb 6, 2018 9:36:00 AM / by Bill Waham

 

Successful woman leading a business group and looking happy

 

New systems and new processes often make the promise of improving your company’s revenue and speed. But often these solutions prove to be only marginally better than the services they replaced.

There’s a different kind of resource that companies can and should invest in that actually grows better with time. A resource which can be fostered to provide more and more value each passing day.

And every company has this resource—employees.

But there’s a big difference in employees and other assets of an organization. Assets like capital and computer software depreciate over time. But as employees gain more experience, they become more valuable. This is because they’re learning new skills, practicing new methods, and building portfolios of success.

Assets that are related to capital only require cash investments. Successful staff members require wages, of course, but investments in mentoring, training, and trusting also yield substantial returns. Indeed, engaged and vested employees prove their worth many times over.

So how does a manager foster an environment that encourages employee engagement? There’s no one-size-fits-all-solution, but a few general practices yield consistent success stories:

  • Treat employees with respect.
  • Involve them in important decisions.
  • Show them why their work is important.
  • Encourage them to learn and grow.

Let’s explore each of these.

Treat Employees with Respect

When employees do not receive the respect of their managers, it unfailingly brings indignation and burnout. On the other hand, employees who are treated with respect feel valued by their company and choose to work hard to see it succeed in its business goals. Respect is easy to foster by remembering that it is reciprocated. Giving respect yields respect. And it yields returns.

Involve Employees in Company Decisions

When your employees feel like they have a voice, they feel vested—they want to see the company succeed. This is certainly not to say that you have to yield to the whims of employees. But at the very least, communicate the situations your business is navigating in its competitive environment and explain the rationale of decisions made. When they understand the why, they’ll get on board with the how.

Show Employees Why Their Work is Important

If you’re paying someone to do a job, you believe that it is important. Tell them why. When they understand the impact their work has on the organization’s goals, they’re able to make more informed decisions. What’s more, they care about their work and creating value for the company.

Encourage Employees to Learn and Grow

Employees that feel pigeonholed in their job, completing the same tasks day-in, day-out rarely generate innovations. Employees who want to grow professionally and personally, on the other hand, create enormous value for their organization. Simply investing in them and encouraging them to learn new skills will yield incredible returns for your company.

 

 

Topics: employee retention

Bill Waham

Written by Bill Waham

Bill founded SalesSpire after a successful career in sales spanning more than 35 years. During this time he never missed a sales target and ran a $2.5 billion sales organization with incredible results. His teams saw a rate of voluntary turnover of less than 1% and the highest customer satisfaction scores in their class. His expertise is not theoretical—it is a lived experience. Before his career in sales, Bill served in the Marine Corps and earned a BS in computer science via the GI Bill.