Business

Employee Investment Strategies: When to Hold on and When to Let Go

For any business, regardless of industry, your employees are the backbone holding it together, and as a business owner, you appreciate that and do everything in your power to show that appreciation. Unfortunately, that doesn’t always work.

Sometimes, you think you’ve hired great talent for your business, only to be let down a few weeks later after hiring your new recruit. So why is that? Why is it that people claim to want a job and apply to one, only to underperform or quit?

As a business owner, this can leave many questions dangling in your head. Did we not set clear expectations? Could we have done something else? Are the expectations too much?

It’s perfectly understandable to have these types of doubts, but when facing turnover, it’s important to go back and retrace your footsteps from the very beginning up to your current state. In most cases, companies don’t conduct as thorough of a hiring process as they could have. It’s an honest mistake. But if you know you’ve conducted a thorough hiring process, it’s now time to look into how you invest your employees.

Are you doing all you can do to keep your employees and keep them happy?

Here’s a checklist to follow to ensure you’re keeping your employees happy.

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Invest in Their Professional Development With Training

One of the biggest and best investments you can make in your business is investing in your employees. Maybe you have a standout employee that’s excelling in one area; show them that you see their potential by training them in a different area of the company. This will not only push them to work harder but also shows their level of commitment to the company. Constructive feedback and encouragement will go a long way and be greatly appreciated by your employees.

Provide Them With the Necessary Tools and Resources to Do Their Jobs Effectively

As a business, you want to work smart, not necessarily hard, and in order to do that, it sometimes means you have to invest in more efficient tools and processes for your employees to understand and properly utilize. If you’re running a manufacturing company, you might invest in JD Edwards Consulting services to make various processes less time-consuming and more accurate, which, in turn, would boost productivity and streamline work processes, making your employees’ jobs much easier. This could also mean providing uniforms and other pieces of equipment as a standard part of your hiring process.

Host Team-Building Activities

Team building activities don’t always require running marathons or doing the typical “fall backward and see who catches you” type of activity. Team-building activities can be anything you want them to be. It can be something as simple as everyone bringing their lunch once a month and having a group lunch in the nearby park.

The Reality Behind Hiring Employees and Running a Business

When you’re running a business and hiring employees, your assumptions are that everyone who’s applied to your job posting wants to work and has at least some experience in the field based on the job description, otherwise, why would they apply, right?

Well, the truth of the matter is that people want to work but don’t want to work. This can be hard to tell in the beginning because most candidates put their best foot forward and smile to land the job, but when it’s time to do the actual job description the candidate agreed upon, the work ethic and ‘supposed’ experience goes out the window, either due to laziness or lack of aforementioned experience.

This can indeed be frustrating for business owners, but at the end of the day, you can feel peace in knowing that you not only conducted a thorough hiring process but also provided all the tools, encouragement, and resources possible to do their jobs effectively and efficiently. This is just a minor setback. You can’t create a work ethic in people; As long as you’re doing your part as a great leader, that’s all you can ask for. The right employees will see that and stick around for the long haul.

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Rajhu S Goraai

Rajhu S Goraai is a Passionate Stock and Commodity Researcher. Travel addict and Photographer. Co-founder and Editor of Leading Business & Tech Magazines.