Your most valuable asset

By Richard Saava, Director at Changing Times

Our greatest asset is our staff. That’s the claim by many successful organisations. I worked for a global company that said “the customer comes second, our people come first.”

Similar ideals are spoken by Richard Branson and look at how successful most of his businesses have been.

So, if we are to look after our staff how do we do this? There are many factors that can affect how we retain our staff and also attract the best talent out there. Here are a few pointers.

360 degree personal reviews

I am not a fan of such evaluations. A boss, peer or colleague may have a grudge or is scared of saying the truth. It is necessary to have some form of measuring an employee’s performance, however I haven’t seen many of these solutions provide realistic outcomes.

 

Culture

Managers can ruin a workplace with poor communication skills and the inability to ‘lead & motivate’. Does your business have a culture? It can be difficult to describe what your company has as its DNA — try to get your team to explain what it means to them. Are you proud of the culture? If not, then start changing it today!

Money matters

 

90%+ of people work because they have to and the salary package can entice people to move or stay! Added value like gym memberships, days off on your birthday and Friday dress down can play a part in the overall culture and ‘feel good factor’ of a business. Have you asked your team what they would like to see as an added value to their workplace?

Opportunities and security

Totally different things can motivate members of your team. Know what they value. Find out who needs to feel their job is secure and ensure they are always made to feel appreciated. For the team member looking for career development make sure they are made aware of all different roles & pathways within the business — don’t force them into one area, e.g. reservations, when they could have aspirations to be in IT.

Technology

There are numerous tasks your company is doing today that will not be around in 2-5 years. Don’t let your business change because you have to, make the changes sooner rather than later. Show your team you are forward thinking, market leading and make them proud to be part of your team.

Be honest

If the news is bad then make sure the team hear it from you. Don’t let rumours become the communication method in your company. Deliver it using skills like ‘the sandwich selling’ method.

Your asset today will define your success tomorrow.

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