Your team are the backbone of any business. Even the most capable leader wouldn’t get far without a skilled & supportive team behind them.
I’ve shared some reasons why investing in your team is one of the most important steps you can take towards growing your company. Working alongside a team that loves their jobs creates positive outcomes for everyone involved.
Investing in your staff creates a better workplace environment.
People will flourish when they feel valued, and when they feel like the work they do has meaning. Conversely, people who feel exploited or underappreciated probably won’t stick around. It really is that simple.
Creating this environment for your team is about more than just money. Many people rate work-life balance as their most important factor in choosing a job, so be sure to always listen to your team’s needs and try to be flexible with their schedules and work-styles.
You should always aim to develop shared goals and values within your team, which can sometimes require a bit of out-of-the-box thinking. Try to think about the kind of activities that will genuinely help your team bond. This applies to the small stuff too. For instance, sharing your business plan with your team can help foster a sense of shared vision.
Of course, the basics will help too. Pay your team handsomely, listen to them, and give them plenty of opportunities for development. It will create an environment where people are much more engaged with their work, and with the shared values behind it.
Always make training & development part of your strategy.
A sense of self-development is another big part of what makes work fulfilling.
If people feel like they’re being paid to learn and grow, they’re so much more likely to stick around and invest their energy and their passion into your business. Providing ongoing training for your employees should always be one of your top priorities
Don’t underestimate the power of psychology. If your employees feel like they’re not getting a chance to grow in their roles, you’ll end up with team that’s focused on just getting through the day and getting out of there. That slow drop in productivity and morale is a ticking time-bomb for businesses.
Plus, it’s just generally a good idea to invest in stacking your company with knowledgeable, well-trained individuals. Try thinking of it this way – yes, it can feel rough when a team member leaves after you invest in training them. But imagine that instead you don’t train someone at all, and they go on to stay in your company for 10 years. That’s going to have a much worse long-term effect.
Make sure you hire with your head, not just your heart.
Investing in your team starts well before a new hire walks through the door. When the time comes to hire a new team member, it’s important that you recruit slowly and carefully.
To find the right person, you need to do a little homework first. Remember that ideally, a long-term employee is eventually going to help shape the future of your business. This means that you need to use hard science, not just your gut feeling
This is where recruitment and data science companies can help you. Any time we need to expand our team, we make sure to use Taly. They combine personality science with cutting-edge data analysis to help businesses make better choices about their teams.
Peter Treloar, Founder of TALY, says that “Who we are is who we are. The more we understand ourselves and those around us, using a robust scientific process, the better we will be able to work together. Creating a great team of engaged employees has to start with insight and open conversation, not just a great interview performance. By seeing each employee as an individual with their own needs, we can know how to engage them properly in the long term”
Profiling potential candidates helps to ensure that they will fit in well with your values and your existing team. It’s an essential step towards developing an effective, cohesive team.
A better team means a better business.
Businesses are ultimately driven forward by the actions of the people within them. So it follows that building and nurturing the right team is an essential part of setting up your business for growth.
Here at Rees Group, we’ve carefully selected an incredible team and we’re invested in nurturing their long-term success. Everyone here is highly passionate about our clients, and we’re driven by a shared vision. But this didn’t happen overnight.
We reached that point by following the strategies that I’ve outlined above. We work with Taly to make informed hiring decisions, and we take an interest in the wellbeing and long-term development of our staff. It makes a big difference, and our clients feel it.
Investing in your team creates better outcomes for your employees and your business. It’s one of the best business decisions you can make.
Need help implementing these strategies in your own business? Get in touch with one of our advisors today.
Our team are experts at helping businesses build and develop strong & effective teams. We’ll make sure you get the best advice.
Disclaimer: This advice is general in nature and does not take into account your personal objectives, financial situation or needs. You should consider whether this advice is suitable for you and your personal circumstances before acting on it.