Why You Should Invest In Your Staff - Michael O’Keith Smith
A company is like a factory, without staff working around and completing tasks, nothing would come to a complete circle. Promoting a positive workplace environment and rewarding compensation can create wide-ranging and beneficial effects on the company. Having been in a leadership role as the manager of Hyatt Regency New Orleans, the article titled “Why You Should Invest In Your Staff” by Roy Ferman on Forbes greatly amplified the importance of investing in staff and its effects of it.
The article lists a few points on why investing in staff is essential for a successful company.
- Improve productivity
“Organizations that maintain a high-development culture are more likely to have engaged employees.”
In high-engaged environments, employees are able to produce higher-quality of work which means better-quality products or services for the company.
- Improve your bottom line
“Making it easier for employees to do their work and fostering an environment of creativity, collaboration and empowerment have a direct benefit: It can improve business performance and profit.”
- Attract new talent
“This effect is cumulative. The more high-quality talent you attract, the easier it is to get more high-quality talent to follow.”
Word of mouth is a powerful marketing tool and as we know, once word goes out, the company is likely to attract new talents that would want to enjoy the benefit the company provides and help the work your company produces to become even better.
- Reduce turnover
“High employee turnover forces you to spend time and money hiring replacement employees.”
Aside from attracting new talents, retaining existing employees are important as well. Employees that stay have loyalty and rewarding them for that is a kind of motivation. By reducing employee turnover, existing employees are likely to become mentors to the new batch of hires when expanding.
As an individual who advocates team building and encourages positive company culture, empowering individuals to their full potential is a joy that cannot be described. Investing in staff is a key factor for any organization is they seek growth in the business. It is one of the best investments that will show results in a short amount of time.
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