Invest More, Gain More

Investing in people and education can be a great way to increase profitability and efficiency. By providing ongoing training and education, businesses can foster a culture of innovation, improve problem-solving skills, and increase employee retention. Additionally, investing in people can help build a strong employer brand and attract top talent.

It is also important to evaluate your comfort with taking risks when making investment decisions. All investments carry some degree of risk, and it is crucial to understand that you could lose money. Considering your financial goals and risk tolerance can help you determine an appropriate mix of investments to protect against significant losses.

Furthermore, creating and maintaining an emergency fund and paying off high-interest credit card debt are important steps to ensure financial stability before making investment decisions.

Improved skills and productivity

Investing in tools and people is a great way to improve productivity and performance. Here are some ways to improve skills and productivity:

Communication skills

Effective communication is key to productivity. Misunderstandings, misaligned expectations, and difficulties in reaching team members can waste precious time and money. It is important to first decide on the best communication tools for your organization, whether that is a messaging platform, a group chat app, video calls, or face-to-face meetings. Regular check-ins, clear tasks and deadlines, and constructive feedback are also vital to enhancing productivity and performance.

Prioritization

Prioritization goes hand in hand with communication skills. Being able to break down tasks into mini-tasks, with clear goals and milestones, improves productivity. This may involve delegating tasks to other team members and knowing when to prioritize certain tasks over others. Tools such as the Eisenhower Matrix can help with this.

Managing distractions

Managing distractions is a crucial skill for maintaining productivity. This includes learning when and how to say no to other people and devices. Turning off notifications, phones, and tablets can be challenging but is often necessary to maintain focus.

Focus on one task at a time

Multitasking has been proven to undermine efficiency. It takes time and energy for the brain to shift between tasks. Completing one task at a time, with a focus on the most difficult ones first, improves performance and prevents a ripple effect of delays.

Other tips

Other ways to improve productivity include reserving 20% of each day for important tasks, maintaining a clean and orderly workspace, getting quality sleep, increasing access to sunlight, and exercising regularly. It is also beneficial to establish a morning routine and prepare for the next day by writing down tasks the night before.

A culture of innovation

Ongoing education and training are key to fostering a culture of innovation. By investing in employee development, businesses can ensure their staff are up-to-date with industry trends and best practices. This enables employees to be more innovative and efficient in their work processes.

Creating a collaborative environment is also essential. Providing opportunities for employees to share ideas and work together can drive innovation and, ultimately, business success. This culture of innovation can be further supported by encouraging employees to identify inefficiencies and suggest improvements.

In addition, a strong employer brand can be built by investing in employees, which can attract top talent. This is a competitive advantage in a tight labour market.

Employee engagement and retention

Onboarding and Introduction

Help new employees settle in by creating a comprehensive onboarding program. This includes giving them a proper introduction to their coworkers and their role. Sending out a new employee email to announce their arrival is a good way to make existing employees aware of the new hire and prepare them to help the new employee settle in.

Positive Company Culture

A positive company culture goes hand-in-hand with a solid onboarding process. New employees should have knowledge of the company's structure and confidence in the workplace culture so that they are not afraid to ask questions. An open and accepting workplace culture ensures that new employees learn what they need to, and senior employees are more productive as they are not unnecessarily disturbed by questions.

Listen to Your Employees

Collecting employee feedback is essential for learning new employee engagement ideas. Anonymous employee feedback lets your employees give feedback with greater confidence and be more candid with their responses.

Make Your Employees Feel Valued

Employees often cite a lack of recognition as a driving factor of a lack of engagement. Make sure you encourage your employees in their work and recognize their achievements. A "shout outs" portion of your company town hall is a great way to let employees share whose work helped them.

Give Employees Opportunities

Your employees want to feel like they have chances for promotion within your company. Collecting employee feedback will help you understand which employees are interested in learning additional job skills and developing a strategy to help them achieve their goals.

Host Company Events

Help your employees get to know one another better by hosting monthly, quarterly, or annual company events. This could include end-of-quarter celebrations, bring-your-pet-to-work days, or company sports teams. Employees who are friends with their coworkers are more likely to stay at their jobs and get greater fulfillment from your business's success.

Don't Overwhelm Your Employees

Understanding how your employees relate to their work is important for avoiding work overload. If your employees are struggling, show them that their well-being is important to you and your business. Provide them with what they need to get back on track, such as job-related counseling or a few days off.

Create an Employee Engagement Strategy

Planning your employee engagement initiatives ahead of time gives you numerous advantages. Announcing events ahead of time cements their importance, and collecting employee feedback will help you gauge which events your employees prefer.

Track Engagement via Internal Communications

Use your internal communications to get a detailed look at your engagement picture. Track email metrics such as open rate, click-through rate, and read time to find the best times to send employee newsletters and maximize email engagement.

Keep Employees Informed of Company News

Keeping your employees in the know about company issues that affect them is a quick and easy way to increase employee retention. An internal company newsletter is a great way to create a centralized, consistent source of company information for your employees.

Improved problem-solving

Investing in tools and people is a great way to improve problem-solving capabilities. Here are some ways to do that:

Training and Workshops

Training and workshops are a great way to improve problem-solving skills. They can be designed to address specific problem-solving techniques, such as active listening, analytical skills, creative problem-solving, critical thinking, and decision-making. These workshops can be tailored to the needs of the team and organization, helping them to develop effective problem-solving strategies.

For example, a workshop on active listening can help participants improve their ability to pay complete attention to a speaker, remove distractions, and demonstrate attentiveness and positivity. Similarly, a workshop on analytical skills can focus on teaching participants how to collect, study, and parse data related to a problem.

Facilitation Techniques and Tools

Facilitation techniques and tools, such as Lego Serious Play and card decks, can help improve problem-solving skills. For instance, Lego Serious Play encourages participants to build 3D models based on questions and exercises, stimulating creative solutions. Card decks, such as the emotional culture deck, can be used for workshops to engage participants with different learning styles and encourage creative solutions.

External Advice and Expertise

Seeking external advice and expertise is another way to enhance problem-solving capabilities. This can involve bringing in peers, experts, and external facilitators to provide fresh perspectives and guidance. For example, solo entrepreneurs or small teams can benefit from joining a mastermind group, where individuals support each other in achieving their goals and provide different viewpoints.

Additionally, coaching and mentorship programs can help individuals improve their problem-solving skills. A mentor can guide mentees through challenges and provide valuable insights.

Online Tools and Apps

There are also online tools and apps that can aid in improving problem-solving skills. For instance, robo-advisors are algorithm-based advisors that invest money on an individual's behalf, allowing them to be hands-off in their investing approach. Investment apps, such as Acorns, allow users to connect their cards and round up transactions to the nearest dollar, investing the change in exchange-traded funds (ETFs).

Research and Reading

Lastly, investing in training classes and gaining knowledge through reading articles and research reports can help improve problem-solving skills. This can include reading books, emails, and analyzing financial data to gain a deeper understanding of the problem at hand.

By utilizing these methods, organizations can enhance their problem-solving capabilities and develop more effective solutions.

A strong employer brand

• Get familiar with your company: Understand your organisation's core business, vision, mission, values, and culture. Define your company's unique attributes and objectives, and the type of talent needed to achieve those objectives.
• Audit your existing employer brand: Research how your company is viewed in the candidate market and by your current employees. Use surveys, social media searches, and reputation monitoring firms to gather this information. Identify areas that need improvement, such as poor communication or a lack of inclusivity.
• Define your employer value proposition (EVP): Craft an EVP that communicates your company's values, mission, and culture, and reflects what makes your organisation a great place to work. Be sure to include elements such as flexible work options, employee benefits, social responsibility, and opportunities for travel and client exposure.
• Promote your employer brand: Utilise various channels such as your careers site, social media profiles, and employee testimonials to showcase your employer brand. Share success stories and give a behind-the-scenes look at your company culture to attract motivated job seekers.
• Build a robust careers site: Go beyond just listing job postings. Include information about your company's values, culture, and remote work opportunities. Use high-quality videos, photos, and slideshows to showcase your workspaces and celebrate your diversity and inclusion initiatives.
• Write compelling job descriptions: Job postings are often the first contact candidates have with your company, so make sure they stand out. Share what makes your company unique, describe a day in the life of an employee, and discuss the projects earmarked for the role.
• Encourage employee advocacy: Empower your employees to share their experiences working for your company on social media, through employer reviews, and while networking. Employee advocacy builds trust and can be a powerful way to attract new talent.
• Start an employer blog: Share company news, culture updates, and articles written by your employees or company leaders. Highlight your unique policies, processes, and programs that demonstrate your commitment to employee happiness.
• Review your compensation practices: Ensure that you are offering competitive pay, applying it consistently, and providing transparency around how pay is determined. Address issues such as pay equity and pay transparency to meet employee expectations.
• Offer work-life balance: Provide flexible work arrangements, such as flex hours, remote work, and part-time schedules, to help employees balance their work and personal obligations.
• Provide career growth opportunities: Offer leadership training, special certifications, and avenues for career progression to capture job candidate interest and ongoing commitment from your employees.
• Prioritise employee wellbeing: Offer a robust benefits package, paid time off, and realistic goals to show that you care about your employees' wellbeing. This will enhance your reputation as an employer of choice.
• Build a diverse, equitable, and inclusive work environment: Demonstrate your commitment to DEI initiatives to attract top talent who value a fair and supportive work environment. When employees experience inclusivity, they become enthusiastic brand advocates.
• Revisit your recruitment process: Treat candidates with respect, maintain open communication, and provide timely feedback throughout the hiring process. Make the application process easy and provide periodic status updates to create a positive impression of your company.

Frequently asked questions