In an exclusive article for HumanIPO, Suhaifa Naidoo, Marketing Manager of Realmdigital and Chairperson of Girl Geek Dinners Cape Town, shares her take on investing in employees as part of a business strategy.
When business owners strategize about the growth of their company, matters such as new business, mergers and acquisitions are often highlighted and staff investments are repeatedly overlooked.
During a tough economy the last thing a business owner would want to fork out for is training programs but this might be the one thing that will increase finances and productivity within the business.
Some of the most important training and courses needed for all staff are tech related ones. Ensuring your staff is tech savvy is crucial for the growth of any company in any industry.
It is the CEO’s responsibility to grow the company and the individuals that work for it. Investing time, energy and resources in people is a crucial aspect for this growth.
Employers need to recognise the individuals who have invested time and loyalty to the company as well as those who bring a different dynamic to the workplace, those who provide a path for innovation and development.
Investing in employees has proved to have a high return in investment (ROI). It increases productivity levels by ensuring the staff are properly trained and have a grip of what they are doing. This increases the quality of work produced.
Making sure your employees are properly trained decreases the need for supervision and enables them to work on their own. Managers now have time to focus on strategic business issues instead of minding their team members.
The biggest benefit of investment is employee retention. Investing in your employees creates an environment for your staff that makes them feel that their employer is interested in developing their skills. This is guaranteed to increase the time the employee spends working for the company.
Job satisfaction is sometimes not as important for the employer as it is for the employee, however it is proven that a happy workforce is a much more productive workforce.
Training and corporate wellness programs increase the job satisfaction levels of employees, it pushes them to work harder and better. Employees start enjoying their jobs and this helps decrease the levels of absenteeism and stress in the workplace. This holistic environment is beneficial for all staff in the company.
Employers should also be cautious about spending a lump sum investing in people who might end up leaving. This can be combated by ensuring all employee contracts have a retention policy in place.
Larger companies should state that employees who have taken courses and training paid for by the employer needs to work a minimum of 12 months before they can resign. This is fair and saves the employer from investing in staff that are going to leave within a few weeks.
There are multiple online tech courses available through institutions such as Quirk and GetSmarter that will assist employees in learning about digital marketing, social media and online content. There are also free online courses available through Coursera which are accredited to universities such as Stanford and Harvard.