How do you distinguish your organization from others? And more importantly from your competition? Technology is leveling the playing field in most industries. Large generational organizations battle with start ups that where never in the market only a short while ago. And more are on the horizon.
Companies are focusing more and more on maintaining the clients they have earned. In this battle for loyalty the key component to customer engagement is (your) people… human contact and connection with fellow humans; the personal aspect of listening, understanding and responding. Thus the term Human Capital.
Yet most employer – employee relationships are shortening. Job roll over / employee turnover fell drastically after 2008/2009 recession from a high of 20% … however as the North American economy recovers this trend is on the upswing and back up to 15% in 2013.
It is puzzling to recognize that we take things for granted, we take people for granted and we take relationships for granted. This is sometimes true of customers, but all too often and frequently it is true of our employees. We take them for granted and they sense it.
What are the key consideration to address this in the mind of management?
1) Employee Development improves Organizational Efficiencies… sometimes referred to as, the bottom line.
2) Training programs afford peer discussion, interaction and sharing. It brings a community approach to improvement.
3) Training, development reduces knowledge gaps, reduces errors and builds team confidence.
4) A commitment to employee development benefits our employee relationship.
5) Employees are often the first line with customer, customer issues & our deliverables… they are industry differentiators.
6) BONUS Item – Consistent commitment to Employee Development reduces employee turnover.
Monetary reward is of course valued greatly by employees but so too is recognition. And a unique thing about money is soon after given, it is often forgotten, especially once it is spent. Nothing says recognition and appreciation to employees the way an investment in their knowledge, skills or performance practice expresses. It says to the employee team; You Are Valued. In a business and employment relationships’, educating is often time one of the most valued contributions that is made.
And like any relationship that attention needs to be continuous. So, your commitment to train and develop your employees says to them, you care and wish to invest in them and wish to partner in success.
One last point, if you think about it, an investment in human capital is an investment in organizational capital.
Having a tool at hand 24/7 to support training & development is a valuable asset in the initiative to educate. More ideal would be a fully supported system that places no burden on your companies resources, be those both technology or personnel.
QuizzPoint Corporation makes the training and professional development process of our customers easier by identifying knowledge gaps so improvements can be made to increase understanding and execution.