An employee is like a retirement account. Both require an investment.
How many of you out there have a retirement account, so that you can live comfortably in the future? Better yet, how many folks don’t? Scary to think about. If you don’t have one, what are you waiting for?
Benjamin Franklin is quoted as saying “Do you love life? Then do not squander time, for that is the stuff life is made of.” Time is our most valuable possession. It cannot be bought, traded or re-lived. Yet it can be squandered.
You work hard. You deserve the best, right? Well so do your employees. A retirement account without any deposits is just an account. And without any deposits, it will not draw any interest. The same is true for your employees.
If you are not making regular deposits into your employees “bank accounts”, they are probably disengaged and unmotivated. If you are not drawing their interest, your company probably has a high turnover rate. Where an employee is concerned, the “bank account” is their professional development.
Fact: It is more economical to retain your current staff than it is to replace them. So many companies out there today are living in fear. They think to themselves “If I train my employees better they will ask for more money or leave and go to the competition”. Truth is, their investment is just as great as yours. And you both get to reap the rewards of each deposit into the “bank account”.
Myth: Training my employees leaves the employer with all the burden of expense. This simply is not true. Most (if not all) employees will train for free! They desperately want to grow and further their career. In the business world, there is nothing worse than feeling “trapped” in a job because you need the income it generates. This is where disengagement stems from.
Here are 3 suggestions to try. You will find out who really cares about your company by utilizing these simple ideas.
- “Professional Development Day” – A day of learning new things and growing into their full potential. Everyone who is willing to grow will show up…off the clock. Everyone wants to be more efficient at what they do.
- “Performance Review Day: Reversed” – A day where the employees give their superiors a performance review. Think of this like a mirror. Try it once and you will wonder why you have never done it before! Amazing results guaranteed.
- “Work On What You Want Day” – A day where the employee gets to pick what they do to help grow the company. Every company has a “list” of things to help the company grow that is procrastinated over. Think Benjamin Franklin’s quote. You will be amazed at how much gets done and how much it improves your company.
What are you waiting for? The sooner you make the deposit, the more interest you will benefit from.
Christopher Gould – President
Gould Design, Inc.