Protecting Your Biggest Asset: How To Invest In Your Employees
Talent is the most valuable asset for any company. It's essential to invest in training and other development opportunities to allow your employees to stay on top of their game, but it's also crucial to protect your talent from outside forces. There is an ever-growing number of companies dedicated to poaching employees from other organizations. Besides, according to a recent survey done by PWC, 65% of employees in the U.S.A are looking for another job. The survey further found that 88% of executives have reported higher turnover than usual. According to the poll, most respondents intended to relocate for a higher salary, better perks, and more job flexibility. Therefore, businesses need to be proactive and think about how they can protect and retain their talent. Companies can ensure that their employees don't jump ship for something better by thinking ahead and investing in the right strategies.
Training is one of the most significant ways businesses can invest in if they want talents to stay engaged and happy with what they do daily. By investing time and money into training, businesses can give employees a leg up on their competition by teaching them new skills that make them more valuable at work. Companies need to invest in different types of training opportunities. Providing individuals with an environment where they feel empowered and capable of doing great things goes a long way toward protecting your business from outside competition.
Ensuring the well-being of workers is another investment that any business should make. This includes workers comp exemption, proper equipment for workers to use while on the job, and health insurance coverage. There is often a lot of fear and anxiety associated with being out of work due to injury or illness. Workers can become distracted or disengaged at work, which can lead to a drop in productivity.
When businesses become proactive about their workers' well-being, workers will be more willing to take risks and become engaged workers. This can lead to a healthier company as workers are feeling good about where they work. They will be less likely to leave the company, which means workers are more invested in the success of their employer. This will also benefit the company as it will increase productivity and business profitability.
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The WorkFlow podcast is hosted by Steve Glaveski with a mission to help you unlock your potential to do more great work in far less time, whether you're working as part of a team or flying solo, and to set you up for a richer life.
To help you avoid stepping into these all too common pitfalls, we’ve reflected on our five years as an organization working on corporate innovation programs across the globe, and have prepared 100 DOs and DON’Ts.
