Four Ways to Invest in Employees
Employee retention is important to any employer today. You spend hundreds or even thousands of dollars advertising for new workers and preparing them to work for your company. Even with the time and money that you spend, you never know when a worker might leave after a few weeks or months to accept a position with a competitor. Investing in those employees might cost some money upfront, but those investments will pay off when your employees remain working for you.
One way to invest in your employees is through higher education. Many employers now offer programs that agree to pay a portion of tuition costs or the total cost of tuition if workers remain employed full time and take less than a full course load each semester. Employers may also offer tuition reimbursement. Employees pay for college themselves and their employers reimburse them for those costs later. Investing in the higher education of your workers will pay off in the long run. You might find that you have multiple MBA holders working for you later without needing to train new workers.
On-site training may appeal to John Hailer and other industry leaders. While you can always send your employees to seminars and conferences across the country, those events require that you pay a lot of out of pocket expenses, including hotel rooms, food and even rental cars or flights. You can give your workers access to all the same information with on-site training. Look for topics that will teach your workers skills they can use on the job every day. You might hold a safety seminar that shows them what to do during emergency situations, or you might look into programs designed to help them work more effectively with clients.
Technology constantly evolves, and it’s important that your employees can keep up with those changes. An easy way to accomplish this is through technology training programs. Giving your employees smartphones or tablets lets them keep track of work and assignments and remain in contact with clients every hour of the day and on weekends. After handing out those items, you need to take some time to train your workers on how to use those products. Technology training programs may also involve new software and computer programs. Ensuring the workers know how to use those products can increase productivity and cut down on mistakes.
Many people assume that those who attend networking events only do so when they need new jobs. The truth is that many people use those opportunities as a way to meet other professionals and form connections that can help them in the long run. You never know when you might meet someone who needs the services you offer and signs a million dollar contact or when you might meet someone who has the supplies your company needs for less. Hosting these events and encouraging your employees to network can help boost their confidence and public speaking abilities too.
When you think about your employees in the same way you would any other investment, you might find that you need to focus more on those workers. Investing in their futures through the use of college, networking events and other programs also lets you invest in your future at the same time.