Looking to make a big investment in 2023 and maximize your ROI? Look no further
CIOReview
CIOREVIEW >> HR Tech Canada

Looking to make a big investment in 2023 and maximize your ROI? Look no further

Michael Cioffi, Director, People and Culture, Match Retail
Michael Cioffi, Director, People and Culture, Match Retail

Michael Cioffi, Director, People and Culture, Match Retail

No, we’re not talking about ETFs, blockchain, crypto currencies or the buying precious metals; rather, it’s time we get back to basics and invest in human capital.

There is substantial evidence of the economic value (“ROI”) associated with the skills, knowledge, and experience that each employee in your organization possess and get to exercise on the job. Unveiling this value through continuous development opportunities, coaching, training and exposure to business growth opportunities promote increased engagement scores, more productive employees, stronger employment brand and overall workplace culture.

Many organizations have been impacted by a wave of new team members and hybrid work styles over the past few years; traditional team building, culture shaping and talent management strategies have been hyper focused and in many cases evolved post pandemic due to the overwhelming demand for employees in the workforce. Is your organization doing all it can to put your people first and create a culture where your people want to invest their time and career aspirations - In layman’s terms, is it the “place to be”?

Talent management is an important practice for any organization. It involves identifying gaps, recruiting top candidates, developing employees, and retaining talented team members; when done correctly, organizations can ensure that they have the right people in the right roles that stimulate and fulfill their career aspirations; that that can help the organization achieve its goals. #winning 

  ‚ÄčTo promote a high performing culture, organizations must prioritize their focus on developing and nurturing their most valuable asset - their employees

To promote a high performing culture, organizations must prioritize their focus on developing and nurturing their most valuable asset - their employees. This could include offering competitive salaries, committing to market compensation reviews, implement incentive programs, and offer clear career development opportunities through mentorship and formal / informal development training programs. 

Additionally, organizations should prioritize the implementation and sustainment of positive work environments that encourage collaboration, creativity, and innovation. 

Organizational leaders need to act quick and set the pace for the New Year; Leaders must make a conscious effort to provide recognition and rewards for employees who demonstrate excellence in their roles, live the organizational values and essentially set the tone and raise the bar on culture for all.

Lastly, by focusing on developing, recognition and rewarding employees, organizations will create a culture of talent that provides them a competitive advantage to attract and retain the best talent; and an environment for existing employees enabling them to be more productive, feel valued and fulfilled. The task at hand for all leaders is not to chase the goal or embark on the pursuit of making your workplace better than others, rather make it “the way it should be”.

 

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