As a small business owner, it is key to understand the importance of employee investment early on in the business. If you wait too long before you invest in your employees your business will likely see high turnover rates as well as lack the potential to grow and improve.
There are 6 reasons why you need to invest in your employees now.
1. It shows you appreciate your employees.
Have you ever had a manager show appreciation for you by selecting you to lead an important business event or attend a special training season to expand your skills? If you have, then you understand how valued and appreciated this can make an individual feel.
When your employees feel appreciated and valued they will likely perform better on the job because they are happy.
2. Your company will gain more expertise.
By sending your employees to additional training or courses specifically related to your business you are in actuality growing your own company’s expertise and knowledge.
When your employees are up to date on the latest business strategies and bring back fresh ideas you are making sure that your company is staying ahead of your competition and providing the best service to your clients.
3. It allows you to mold your employees into the team you need.
Not only does investing in your employees through training increase your company’s expertise, but it also allows you to mold and train your employees into the Allstar team that you want.
For example, one of my previous managers religiously followed the Rockefeller habits taught by Vern Harnish and the Gazelles team. When my manager invested in sending our leadership team to one of the Gazelles workshops in our local area, he was actually teaching us the habits he wanted us to have and the culture he wanted us to promote.
4. You will be able to promote from within.
When you invest in your employees you are making it easier for you to grow your business from within. By investing and valuing your employees they will be more likely to want to progress their careers within your business.
If you already have the right team on board, why not grow that team and promote from within by simply investing in the training needed to do so?
5. There will be less turnover.
When your employees notice that you appreciate and value them, you will see less turnover within your small business. You will want to hang on to your good employees. By investing in your employees they will want to hang on to you as well.
6. Your company brand will be more attractive to top talent.
All of these things boil down to one key point. When you have the right employees who are satisfied, happy, and valued in their jobs your business will become more attractive to top talent. Top talent wants to be where their hard work is appreciated and when they see that your small business values and invests in its employees they will be rushing through your front door.
What’s keeping you from investing your employees?