Of all the great investments a business owner can make, one that gets overlooked far too often is the investment of those who make up the foundation of the business: the team of employees working hard to sustain and grow the company.
Sure, putting money into the latest technology or marketing can optimize the business or generate a strong ROI, but employees are the competitive advantage that your company’s success depends on. So today we put together some of the best reasons to invest in your employees . . . starting now.
Better Customer Service
“Clients do not come first. Employees come first. If you take care of your employees, they will take care of the clients.”
It should come as no surprise why this quote by Richard Branson is so popular. When your team can empathize with customers and solve problems, the more your customers will value their relationship with your team and the services or products you provide.
When employees are disgruntled, frustrated, or are actively disengaged, they are more likely to share that negativity with customers and each other. Then, your bottom line is negatively impacted and you have to try to turn things around.
Keeps Top Talent
Most of us have worked in a place with high turnover, and we know just how quickly a toxic boss or company culture can impact our motivation to stay. One of the most common reasons some of the best employees quit is because they don’t feel valued. And this isn’t just about their salary.
By investing in your employees — their continued education, skill development, career growth, etc. — you can show them that you care as much about their success as your own. This is a great way to retain the critical employees that will help your business grow.
Expands Employee Skill Sets
Another perk of investing in your employees’ education is the benefit it will bring to the team as a whole (and ultimately your company). Chances are you have a few employees who have great potential, but may need extra knowledge or experience in certain areas like marketing, sales, technology, or strategy.
Show your appreciation and belief in their ability to learn and grow: provide them with challenging opportunities and give them a path to demonstrate the results your business needs.
The more you begin to invest in your team, the more you boost your team’s morale. Employees are then better able to work together, be more productive, and feel more motivated. This can enhance your company’s reputation as an employer that values its employees and make it easier to attract, retain, and motivate them.
Talk with an HR Consultant
I’m Denise Liebetrau, a Human Resources Consultant with over 20 years of experience in HR. I started Prosper Consulting to help growing businesses, executives, and HR teams design great pay programs and keep talented employees happy. Schedule a free strategy call with me today!