An investment in employees is an investment in productivity
The ongoing productivity debate is on course to become a perpetual merry go round. While industry, unions and the government debates the impacts of legislation, the perceived laziness of employers and the militancy of unions, one factor stands out: Employees are stuck in the middle of all of it, which does nothing to improve their motivation.
Business owners are rightly protective of their assets. Be it intellectual property, or the van that delivers their products. It’s apparent however that one particular asset, a very vital asset, goes unprotected and in most cases undeveloped and under utilized.
Not wanting to open the same debate on another front, it is just as vital for business to ensure that their employees come first. Without the employees you have no business.
So the first question is, how and when do I invest in my employees to get increased productivity?
The answer is simple – always.
To neglect the development, and training of staff is to put the long-term viability of your business at risk.
With this in mind, these three tips will help get you started in investing in employees:
- Develop a comprehensive performance management system specifically designed to your business needs and employee demographic.
- Set attainable Key Performance Indicators (KPIs) in line with realistic Key Performance Areas.
- Ensure that behaviour forms part of the system. Without the right behaviours, your employees with not achieve the KPIs.
Whilst these tips are by no means an exhaustive list, the investment in employees needs to be not only money, but time, patience and perseverance.
Businesses are very time poor, some are very cash poor, but to neglect all the avenues outside of enterprise bargaining where you can increase productivity, is to neglect the very core of what makes your business tick… your employees.