Protecting Your “Valuables”

 

When you look at your balance sheet, you’ll likely see payroll is your greatest expense. So it only makes sense you should treat your people as your most valuable asset. But how do you do that and “protect your valuables?”

 

Keep employees engaged

It’s important your employees feel they are part of a team. So how do you accomplish that? With confidence and clarity! I believe in vulnerability and transparency. That means you share exactly where your company is heading and you are clear about the organization’s goals. That helps put everyone on the same page and provides an understanding of how they impact the business. That doesn’t mean as a leader you have to let everyone know the financials. But being clear about the greatest challenges and opportunities within the organization ensures everyone is on the same page.

 

Develop open lines of communication

How you communicate with employees can be different for different organizations. It might be email blasts, text messages or blog posts on a company Facebook page. Or maybe townhall meetings or weekly “touchbase” sessions will work best for you. However you accomplish it, it’s crucial you keep those lines of communication open and vibrant. The most motivated employees know their voices are being heard.

 

Invest in your people

I’ve talked a lot in the past about the importance of ongoing learning and professional development. Investing in your people will improve your organization’s performance and it will help in retention. There is a perception people leave a job purely for a bump in their base salary. I don’t believe that! I find people are much more likely to leave an organization when they feel their current employer is unwilling or uncommitted to professional development.

 

I think this quote from entrepreneur Richard Branson puts it quite well: “Train people well enough so they can leave, treat them well enough, so they don’t want to.”