Coaching Your Business To The Next Level Series Part 6 Invest in Your People
Coaching Your Business To The Next Level Series Part 6 Invest in Your People
Tip #5 - Invest in your people
Mistake: Spending dollars on things such as technology and not people. People make the business. They create the loyal customers or disloyal ones. Employees don’t come to work thinking how they can mess up the company. Invest in people development and watch your investment quickly multiply.
People development is critical now more than ever given that we are in a knowledge base economy. This new economy has created new rules. Employees need to manage their freedom by making decisions that will be beneficial to all stakeholders. Micro-management is a thing of the past.
Many employees are promoted from within and that is a good thing. However, the reasons for their promotion were because they were probably the superworkers. Yet, in their new capacity as supervisor or manager will they use their job specific skills or will they need new interpersonal skills to demonstrate the same levels of success?
In all honesty, these dedicated and highly trained employees will use less of their job specific skills and knowledge and will need more interpersonal skill development including: supervisory or management, leadership, team building, time management and communication skills just to name a few. If you are not including the education and training of these skills for your recently promoted employees, then you are setting them and your business up to fail. HINT: Some companies have already realized that the workforce of today is different than yesterday and are providing executive coaching to their employees.
Not investing in your people is probably more costly than investing. For example, as a small business coach, one thing that many of my clients agree to is that their people waste at least 12 minutes each and every day. This translates into 1 hour per week or 52 hours per year. Do the math. If the employee is making $30,000 annually not including benefits, this is a minimum hourly waste of $14.42 or a yearly waste of $750.00. An investment of $500 per person into a good and sustainable time management training and development program makes sense unless you like losing all that money.
Research indicates that the cost of employee turnover ranges from one year’s salary and benefits to two year’s salary and benefits. Turnover not only affects the hiring and training of new employees, but it also has long term affects on productivity, customer relationships and morale within the organization. The question is can you afford not to effectively invest in your people given that your competitors probably are?
Coaching Your Business To The Next Level Series Part 6 Invest in Your People - To learn more about this author, visit Leanne Hoagland-Smith's Website.
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Many companies say their people are number one. Yet, looking at the surveys and the actual dollars spent in training and development, there appears to be a gap between the desire and reality.
Tip #5 - Invest in your people
Mistake: Spending dollars on things such as technology and not people. People make the business. They create the loyal customers or disloyal ones. Employees don’t come to work thinking how they can mess up the company. Invest in people development and watch your investment quickly multiply.
People development is critical now more than ever given that we are in a knowledge base economy. This new economy has created new rules. Employees need to manage their freedom by making decisions that will be beneficial to all stakeholders. Micro-management is a thing of the past.
Many employees are promoted from within and that is a good thing. However, the reasons for their promotion were because they were probably the superworkers. Yet, in their new capacity as supervisor or manager will they use their job specific skills or will they need new interpersonal skills to demonstrate the same levels of success?
In all honesty, these dedicated and highly trained employees will use less of their job specific skills and knowledge and will need more interpersonal skill development including: supervisory or management, leadership, team building, time management and communication skills just to name a few. If you are not including the education and training of these skills for your recently promoted employees, then you are setting them and your business up to fail. HINT: Some companies have already realized that the workforce of today is different than yesterday and are providing executive coaching to their employees.
Not investing in your people is probably more costly than investing. For example, as a small business coach, one thing that many of my clients agree to is that their people waste at least 12 minutes each and every day. This translates into 1 hour per week or 52 hours per year. Do the math. If the employee is making $30,000 annually not including benefits, this is a minimum hourly waste of $14.42 or a yearly waste of $750.00. An investment of $500 per person into a good and sustainable time management training and development program makes sense unless you like losing all that money.
Research indicates that the cost of employee turnover ranges from one year’s salary and benefits to two year’s salary and benefits. Turnover not only affects the hiring and training of new employees, but it also has long term affects on productivity, customer relationships and morale within the organization. The question is can you afford not to effectively invest in your people given that your competitors probably are?
Coaching Your Business To The Next Level Series Part 6 Invest in Your People - To learn more about this author, visit Leanne Hoagland-Smith's Website.
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Casey GollanCasey Gollan, Business Coaching & Mentoring Programs. Add $1 Million to $10 Million in the next 1 to 3 years. Since 1996 Casey has to added hundreds of millions of dollars to businesses. Watch a free video see client results Business Coaching website. - Visit Casey Gollan's Website |
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Leanne Hoagland-SmithAre your sales where you want them to be? Will you be one of the few who achieves sales or business success or one of the many who have failed to change? Are you tired of being told you are like everyone else? Then you may find my first book on sales of interest. Be the Red Jacket in the Sea of Gray Suits, The Keys to Unlocking Sales available at Amazon or at http://www.processspecialist.com/red-jacket.htm. This book is a reflection of my no-nonsense approach to improving sales to overall business results. If you are truly committed to making sustainable changes, then I can help you secure a positive return on your investment because I focus on executable solutions not telling you the problems you already know you have. From training to corporate (group) coaching to executive one on one coaching, my approach is to assess, create awareness, build a goal driven action plan and then execute. The bottom line question is "Not do you or your employees know it, but do you or they want to do it?" Please call for a free strategy session at 219.759.5601. - Visit Leanne Hoagland-Smith's Website |
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Dianne CramptonDianne Crampton is an executive leadership coach, team culture consultant, author and president of TIGERS Success Series, Inc. Dianne has been helping CEO's and Executives connect their employees to their core values and goals for over 20 years using the trademarked TIGERS team culture process, which stands for trust, interdependence, genuineness, empathy, risk and success. To download a free white paper on behaviors that build strong teams and behaviors that will predictably tear them down go here. Dianne's contribution to the 2010 Pfeiffer Consulting Journal (an imprint of John Wiley and Sons Publishers) entitled TIGERS Hearted Teams is available in November 2009. Her new book TIGERS Among Us: 5 Winning Business Team Cultures And Why, Three Creeks Publishing will release in March 2010. To receive publishing discounts, subscribe to the free TigerTracks Newsletter here. - Visit Dianne Crampton's Website |
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Staging DivaDebra Gould, aka The Staging Diva®, is President of Six Elements Inc., an internationally recognized home staging company. Inspired by many requests from aspiring home stagers wanting to start similar businesses, Gould created the Staging Diva Home Staging Business Training Program. Gould has trained over 1000 Staging Diva Graduates worldwide to start staging businesses. Buying decorating and selling six of her own homes in four years lead to an interest in real estate staging which she turned into a career with the launch of sixelements.com in 2002. Since then she has staged hundreds of homes in addition to teaching home staging training. Gould is the author of several home staging resources including a series of popular ebooks made up of a Design Guide, Color Guide and Portfolio Guide. For more information about Debra Gould visit stagingdiva.com. - Visit Staging Diva's Website |
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John BrennanJohn Brennan Ed.D. Dr. Brennan is President of Interpersonal Development, LLC, a training and development firm. Interpersonal Development has provided sales training and coaching to more than 3,000 sales reps from over 100 companies. A native of Australia, Dr. Brennan received his doctorate from the University of Rochester. His dissertation researched the effectiveness of Behavioral Modeling Technology in training people in interpersonal skills. While he has spent most of his career designing or delivering training, he was also a Vice-President of Sales of a training and development franchise with operations in 25 markets. Dr. Brennan has designed and delivered sales training in North America, Asia, Europe, Australia and the Middle East. He has been a guest speaker at numerous national and regional professional conferences. When Microsoft wanted Best Practices articles on sales for their web site, they called Dr. Brennan. The results are at http://office.microsoft.com/en-us/FX011387391033.aspx His firm’s clients have included Volvo, The Prudential, Merrill Lynch, Eastman Kodak, Gannett, Equifax Europe, the Economist Group and countless small businesses. - Visit John Brennan's Website |
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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
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Jeff FosterWebBizIdeas.com is a Minneapolis website design company founded to help people start an internet business by providing them with website, business, and internet resources that help foster the growth of successful online businesses and develop innovative Internet business ideas. We specialize in internet consulting & internet marketing. - Visit Jeff Foster's Website |
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