Whether you are a service-based company or an organisation that sells products, if you want to flourish — you have to invest in your employees. Here are 5 ways you can help them grow and take your company to newer heights:
1. Create Individual Development Plans
Start by crafting an individual development plan. Sit separately with each employee and talk about the goals they have and how they can achieve them. It will help you identify their goals and make a customised plan for them.
The reason why this is important is that every employee in your company is unique and has a different thinking pattern. Some are optimistic, some are uncertain, some are bold and some are eager to learn new things.
So, by creating a development plan, you can provide the worker with a roadmap which he can use to grow himself. Sometimes the only thing a person needs is a direction. Set a realistic time frame for them to achieve the goal.
2. Set KPI’s
The next crucial thing you need to work on is to set the key performance metrics for each worker if you have not done that already. This will give your employees a target to achieve. As the worker completes his tasks, you can increase his KPIs. This will also give him confidence and a sense of accomplishment.
Not just in businesses, KPIs are important in every field. When a fitness enthusiast starts his fitness journey, they start with smaller goals. As they start to achieve them, they work their way up and upgrade their targets and eventually meet their goals.
Similarly, a leader can work with their staff to assess where the employee is now and how he can achieve those KPIs. Moreover, these will also give you a quantitative way to analyse the performance of your employees.
3. Provide Opportunities Outside of Job Function
In the modern world, companies have become compartmentalized. They are working as separate units. Hence, one is usually required to work in his area of expertise only. You can stand out from the rest by allowing your employees to learn other skills.
If you want to build the skills of your employees, you need to get them out of their comfort zones. By bringing them out of their narrow set of expertise, you will not only have a backup but it will also enhance teamwork as the employees will have an idea of what are the limitation of other departments and how far they can actually go in executing a task.
When you start giving additional tasks to your employees, they start feeling challenged. If this is the situation and you feel a person is intimidated, don’t demotivate them by taking the responsibility away from them. Instead, act like a true leader. Motivate them, encourage them and if needed, help them achieve the task or ask another person with a similar set of skills to help them.
4. Outlay Resources
A worker is an investment from which you expect a good return. If you want to grow the return that you are getting through employees you have to further invest in them.
Train them and equip them with the right resources. Here are a few things you can do to expand their skillset:
- Offer training
- Make online learning programs available to them
- Hold seminars
- Take them out to promote teamwork
5. Keep them Happy and Productive
Growing your employees is not just about developing their skillset. You need to keep them happy and satisfied. There are many types of research which suggest that happy employees are more productive and loyal.
If they are unhappy or they feel they are being treated unfairly, they will begin exploring other avenues for better opportunities.
Offer them great benefits. Allow them to work flexibly even if it requires working remotely. Offer marketing competitive salaries and bonuses. Don’t hesitate in offering extravagant perks to your top-level employees. Build a company fleet for your important employees. There are numerous car rental companies which will offer you the cheapest car rental. Pick a car rental company that allows you to end the contract anytime. So, if your company loses a big client or sees a downfall in its sales, you can cancel the contract anytime.