Wait for it…
…Your greatest asset is how you empower your people.
Yes, today we’re talking about your business’ most valuable resource: your human resource. Today’s GROWisdom comes straight from the lips of the late American billionaire, Herb Kelleher: “The business of business is people.”
It feels cliché to write, but the reality is, it’s said so often because it’s true and proven and lived. Take the time to find the right people, nurture those people, and give them the freedom to grow your business. It can quite literally pay dividends.
But how can you be sure you’re doing the right thing with your employees? Read on for some fresh thoughts on how great people strategies can grow your business. Make sure you also check out Udemy below, the most effective way to access thousands of courses for your people.
1. INVEST
Much like setting up, marketing and running your business, attracting the right people and holding on to them requires investment. If you want to grow your business, you need to grow your people. But when it comes to people, the investment is more than financial, as is the return on that investment.
Investment, in a human sense, means supporting the growth and development of the people you’ve chosen to grow your business. One of the ways you can do this is by coaching and upskilling your employees. For this to work, we suggest linking any development to employee interests AND the needs of your business and the customer segments you are serving.
Throwing them on a token team-building course to tick a box or sending your graphic designers off to budgeting course ain’t going to do much for your ROI. Your investment needs to work both for your people and your business.
Development Plans
A great way to establish your employees’ career ambitions or interest areas is to sit down and work through a development plan with them. A learning and development plan acts as a road map for employees and helps to support their career and personal development. It’ll also help you identify key roles and allow you to grow your talent to fill any skills gaps.
Upskill the business.
As more and more businesses break away from the 9-5 office-based paradigm and strive towards more agile, modern ways of working; the smart business will invest in employees to lead your business transformation.
Creating ‘culture change agents’, or ‘agility coaches’ is a great way to do this. It involves inviting one or several (depending on the size of your business) employees to be trained externally. This helps them to understand the business transformation (regardless of what that is) and act as a support person for other employees. Not only is this incredibly empowering for the employees selected to be agility coaches, but it’s also a less hierarchical, more modern way to help your people and business evolve towards its next stage of growth.
2. INNOVATE
The idea of artificial intelligence (AI) and machine learning is one that still feels uncomfortable to some. Nonetheless, it’s becoming increasingly difficult to avoid or deny.
In our fast-paced and digital world, using digital tools to create efficiencies and free up resources to re-deploy elsewhere is kind of a no-brainer.
The trick here is to re-think the relationship between computers and humans.
The good news for us humans is that, for all its capability and promise, AI is still unable to reason at a high level. (For now, at least.) This gives businesses great scope to digitise data processing around the ‘what’ and free up our employees to consider the ‘whys’ and ‘what ifs?’
The BCG Henderson Institute recommends businesses maximise their human resources by encouraging employees to do these three things:
• Expose employees to unfamiliar or anomalous information, in order to inspire imagination.
• Schedule and protect time for unstructured reflection.
• Promote new ways of working that enable dynamic learning and adaptation.
3. OUTSOURCE
This ol’ chestnut keeps coming back for a reason. Sometimes, the best way to manage the talent side of the business is to pick and choose what skills you need and for how long. This allows you to avoid the more costly side of human resources, such as sick leave, Kiwisaver contributions and dispute management etc.
Almost every aspect of the day-to-day running of a business can be outsourced, either permanently, or for a short while. Many skills can all be managed by external suppliers who specialise in their respective. This includes HR, supply chain management, marketing and communications, accounting and even office administration.
Need a hand with all this? Check out Udemy.
Growing your employees has never been easier, thanks to Udemy’s innovative approach to training and development. Udemy is the leading global marketplace for teaching and learning, connecting your employees to the world’s best teaching.
Udemy can take your team(s) to the next level with tons of online courses that can be tailored precisely to the development needs of each of your people.
Click here to match the right course to the development needs of your team today!