The challenges of the last six months have been unprecedented, and in the years to come, we will all have our own story to tell. Working with many leaders as they manage the challenges COVID has presented, the first question I need to ask is, “Did those challenges already exist but have now been exposed?”
Many factors that impede business growth are valid but can also be used to mask the harsh truths that organisations would prefer not to face.
Throughout my business career, I observed one key factor that stood above all others when explaining business success or failure.
That factor? People.
We have heard daily of job losses, stand-downs and redundancies as a solution to reduce costs and to solve some of the problems COVID has presented. Although these decisions can be difficult, they can also be viewed as an easy fix and not considering the long term.
When you lose a staff member from your organisation, with that, you lose valuable knowledge, IP and irreplaceable relationships with customers.
It is worth considering whether the savings you make now could be erased when recruitment induction and training costs will be required in the future when you need to rehire again, which will ultimately be the job of the leaders in your organisation.
Your people are an investment in your business and not a cost. So is developing your leadership skills to lead them.
I have always been a passionate advocate of a people-first philosophy. Now more than ever, organisations are dealing with disruptive change. People remain the most irreplaceable business resource.
Keeping and developing them – is a game-changer, and my experience has shown me that the best thing you can do for the people in your organisation is to invest in the growth and development of their leaders.
An effective leader creates an environment where employees can learn, challenge themselves and feel motivated to contribute. This environment will deliver results not only when it comes to workplace culture, but also for the bottom line. For example, research has shown employees who feel valued and engaged are 24% more likely to increase sales.
An improvement in your leadership will have a positive ripple effect on everyone in your business. Outstanding results come from people working in a positive environment while being inspired and empowered by their leaders.
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