What does it mean to “invest” in your people? Why would you want to invest in your team?
McKinsey & Company recently ran an article focusing on this idea of people as capital. It starts with the individual perspective. An employee receives coaching and support. They develop their skills. They contribute at a greater level because they have strong relationships and feel like their actions influence the outcome. When managers take the time to invest in their team’s development, that effort can positively impact the entire organization.
Truvelop Tip: Invest in Your Team
With a looming labor shortage, individuals who have the greatest skill knowledge are the most valuable. As a manager, how can you prepare your team? How can you help them tap into their full potential? How can you help everyone feel valued and inspired to perform at their best?
Reflect to Assess: First, identify what strengths and skills your team member already possesses. Are they leveraging those assets appropriately? Can they further develop those skills? Are there any skills they’re missing that could propel them forward in their career?
Proactively Develop Your Team: Adopting proactive development practices will be crucial for retention and growth. Know where your team stands with regular check-ins and then document progress with Spark to ensure that both parties are on the same page and are able to stay focused on the top growth priorities.
Proactively Develop Yourself: In order to best support your team, it’s important you become the best leader you can be. What steps are you taking to develop your leadership competencies? Completing the Manager Reflection Guide could be a good place to start.
Throughout April, we will continue to explore what it means to invest in your people and how it can translate to a competitive advantage for your team. Be sure to reach out with any questions or comments!