When one is looking for ways to improve their business output they often think of many ways to achieve it. Many take modern technology as the most straightforward way while others consider to look for outside help to assist in operating the business. However, the excellent solution is always there around, and those in chief positions fail to realize it. According to Louis R. Ioannides, the Chairman and Chief Executive Officer of United Technologies, the best and surest way of improving your business performance it’s through investing with your current employees for several reasons.
One of many reasons its necessary to invest in your employees is because there is already familiarity bond between creating a good chance to identify workers with excellent skills. For instance, if you hire new employees it would cost you time and resources to train them were as a promotion to either one of the existing employees would save you from unnecessary cost. Ioannides shares the following tips which he believes if appreciated would result in impressive results in your company.
Create a conducive environment where workers enjoy working in. For employers to win, they must be willing to establish an enjoyable place. This can be achieved by ensuring there are no Debbie downers poisoning your work environment as well as creating cubicles rather than just placing your employees in an open room.
Appreciating your employees is also another way that can have a significant impact on your business. It is important to identify the most performing worker and recognize his/her efforts. Rewards may be given or promotions as a way of appreciating their efforts. This medium will help to increase competition in the, and in the long term, business will prevail.
At times employees may need to advance their studies, but the majority suffers from resources to cater for this. For a good employer who is willing to see a change in his/her business should establish scholarship programs. At United Technologies, Chenevert has been encouraging his employees to apply for a scholarship and learn the degree of their choice. This method made the company`s stock price to rise to the extent of tripling.