The Importance of Investing in Employees

Written by: Natalia Valdivia

 

In the ever-changing world that we live, it is imperative for companies large and small to stay current on cultural trends, employees’ needs, and technological know-how in order to retain top talent. Companies are now focusing on, and understand the importance of staying ahead of the curve in order to keep their organization competitive.

 

Studies show engaged employees are 87% less likely to leave the organization than the disengaged, and companies with engaged employees outperform up to 202% better. 

 

Here are a few tips on how business leaders can invest in their organization’s future:

 

Recognize the Needs of Your Employees

Employees now desire a greater return for the time they spend at work (One-third of our entire lives are spent in a working environment). In addition to standard benefits like medical insurance and 401(k)s, we’re seeing that company culture and work-life balance are at the top of the list when prospective hires consider new positions.

 

It’s important that organizations showcase volunteer work, team building initiatives, and their employee-friendly culture to prove they are a good match. By recognizing additional needs like this, you are instilling a sense of pride in the company and positioning your organization to be “the ideal place to work.”

 

 

Provide Continuing Education & Leadership Opportunities

A top priority of employees in the workforce is continuing their education.  A great way to secure talent from your pool of employees is investing in their skillsets. Providing continuing education programs for your team or offering financial support for a degree that will help your organization improve is a win for all involved. In the travel and tourism industry, for example, associations such as AHLA and AHLEF are offering options for employees to help them grow in their careers:

 

“As part of the hotel industry’s long commitment to empowering its workforce, the American Hotel and Lodging Association, the American Hotel and Lodging Educational Foundation and Pearson have recently partnered to launch a new pilot program to offer women and men in the hospitality industry a cost-free degree.”  

 

By offering your employees a competitive edge in their education, you are showing them they are valuable.  This simple strategy provides great returns over the long run.

 

Offering leadership roles to your employees increases motivation and drive. Enable your team members to take on leadership roles, opportunities, and temporary assignments whenever possible. The travel and tourism industry, for example, provides endless opportunities for career development:

 

The hospitality industry provides an opening for anyone to truly develop a career, where you can start as an intern, commit to working hard and grow to become a senior leader in the industry. – Juan Corvinos, VP of development, Caribbean and Latin America, Hilton 

 

By empowering and challenging your employees with opportunities to prove their talent and potential, you are providing them with experiences and new skills that are irreplaceable.

 

 

Stay Ahead of the Technological Curve

 

“The only thing worse than training your employees and having them leave is not training them and having them stay.” – Henry Ford  

 

Lastly, encouraging technological fluency in the workplace is paramount for long term success. New innovations will allow your company to stay competitive. Tech knowledge, in general, is an important asset that employers should prioritize. It’s also important to make sure that your team members are equipped with the appropriate tools essential to the success of the team as a whole. Companies can now take advantage of training programs and apps that will provide learning opportunities and tips for their employees to stay ahead of the curve.

 

These efforts can lead to happier, engaged employees and overall better company culture. Research shows that happy employees greatly contribute to the future of a company. Making it a top priority for leadership to invest in their employees and overall company culture.

Investing in employees

 

By providing an attractive employee-focused culture and offering career development opportunities through training and financial support, companies can reduce turnover and build loyalty. Additionally, focusing time on technological education is a sure way to retain talent. In doing so, you are positioning for a positive return on investment in your employees and positioning your organization for success.

 

 

 

 

SearchWide Global is a full-service executive search firm primarily for companies in Destination Organizations / Hotels & Resorts / Venue Management / Experiential Marketing, Tradeshow & Exhibition / Industry Associations / Sports & Entertainment. Specializing in C-Level and Director level executive searches for companies ranging in size from Fortune 500 corporations to mid-sized public and private companies and associations. Founded in 1999, SearchWide Global headquartered in St. Paul, MN, USA and operates worldwide.