In this post we look at the importance of people to your growth strategy.
Value your people
Regular and clear communication to your team is key to keeping them engaged. You need to develop key talent, keep them motivated and develop appropriate incentives for them. Think about outsourcing the stuff you’re not good at or the stuff that’s time consuming so that you can focus on key activities. One thing a downturn throws up is an abundance of talent as other organisations downsize and shed staff. Regularly meet with talent and look at ways of working with the talent, even if you can’t immediately afford to hire them.
You need to answer these questions:
- How is the economic climate affecting your people?
- How does your team want to be rewarded?
- Are you rewarding your team in the way they want to be rewarded?
- Do you tell your top people how much you LOVE Them?
- Does your performance measurement system reflect the contribution of your team?
- Do you regularly communicate with your team?
Are you doing all these things?