It doesn’t take Einstein to conclude that motivation and empowerment are the key to retaining your human capital, yet it appears that some organisations – large and small alike, are still failing to recognize this key facet as something not to be taken lightly.
I say this through observing the number of people in my own social circles who are job hopping like there is no tomorrow because they are seeking more appreciation and the feeling of being valued as an intrinsic part of the organisation, which they are failing to find in most jobs. When they finally do find that elusive circumstance with a new employer offering an abundance of training opportunities and a cool tech-laden desk on the glistening vista of professional development nirvana – they swear that they will never want to leave!
Whilst good and proper motivation in your workforce requires good and proper capital investment – the rewards for the organisation can too be good and proper! Sending your team members on training courses and encouraging them to attend industry conferences and seminars hold a much greater value than initially meets the eye.
For example, your marketing and sales manager, who is usually only primarily concerned with marketing and sales related activities, is highly likely to acquire knowledge outside of their scope of office duty, thus enriching their overall understanding of the industry, best practices and mastery in the broader sense. In layman’s terms, a marketing and sales manager who is also equipped with a good understanding of HR practices and has made contacts in the field, is more valuable in the workplace than someone who is purely one-track focused. According to Luanne Kelchner, this creation of cross-functional knowledge allows for greater flexibility in the workplace and in some instances may increase productivity by allowing the organisation to maneuver staff ad-hoc to meet customer requirements. (http://smallbusiness.chron.com/functional-roles-workplace-18822.html)
The more engaged and involved staff become in working for your success, the better your rewards! As Karl Moore, of Forbes magazine wrote, “Millennials work for purpose not paycheck!”. So, if you cannot offer the highest salary in the world – fear not! But you should at least offer a sense of purpose to your team and empower them to feel that they are a key part of the organisations success.
“It’s not the tools you have faith in – tools are just tools – they work or they don’t work. It’s the people you have faith in or not.” – Steve Jobs, Apple.
Sending your mid-level team to conferences can be seen as a retention tool, instilling loyalty and commitment in employees. Those seeking their next big challenge will be more likely to stay if you offer ways for them to learn and grow whilst staying put in your organisation – don’t give them the fuel to drive away by allowing them to stagnate once they have mastered the visceral function of the role. Furthermore, appropriate and regular training and development of your staff members is a key pillar in enabling the free flow of knowledge transfer within your organization. Sharing knowledge is like diversifying your investment and ultimately strengthens your value proposition as an organization in an ever increasing competitive landscape – WHY?... “Because when you get the company culture right, everything else will follow” - Tony Hsieh, Zappos.
For further reading, why not take a look at the following related industry articles?
David also suggests the following for further reading / viewing: