You can either train your Louisville employees and risk that they leave … or choose not to train them and risk that they stay.
Think about that for a moment.
Are you empowering your employees for growth? Does your leadership team (which might be just you) brainstorm ways to assist your employees’ education, certification achievement and overall professional development?
Yes, training your employees means risk: they could leave for a “bigger and better” opportunity.
But I believe the alternative is considerably more threatening.
Kevin Roberts’ Keys For Empowering Your Employees For Advancement
“My job as a leader is to make sure that everybody in the company has great opportunities and they feel they are having meaningful impact to the good of society.” -Larry Page
If you do nothing to help your employees grow, complacency can become the norm. They might be “good” at their job but they may never become “great”. And for those employees who are striving, regardless of their given opportunities, it’s vital you recognize them in their good work. Is a promotion at hand? Possibly. Consider the following three questions before promoting your people.
Are they prepared?
Hard work and stellar performance does not mean they are automatically ready for the next step. Consider the highest award in college football: the Heisman Trophy. Those who win the award do not always excel at the next level. Some trophy winners leave college early when they should have prepared another year for the NFL. Your employees might need another six months or year to prepare for promotion. In that timeframe, give them educational goals that will prepare them to succeed at the next level.
What does your team think?
Trust in wise counsel. Back to your leadership team — do you have one in place? Even if you’re the only “C Level” employee on your team, consider those you trust most in business. Ask your business mentors about promotion, and if your employee is ready for promotion. They will provide insight for you (and have maybe been in the position many times before) and ask questions for you to consider in the process.
Is their pending promotion in line with their career aspirations?
As the shepherd of the business, it’s your responsibility to know your flock. Does the employee in consideration desire a long-term career in your industry? Have they expressed to you, personally, a long-term goal to “climb the ladder” so to speak? If you have an idea for what they want in a career, you’ll know how to honor their goals in the promotion process.
Promoting an employee before they’re ready is a big mistake. A mistake that is mendable, but that throws a wrench in the business for a significant amount of time.
A fourth bonus question to consider is “do they really want it?” Only you will know the answer to that question. If you see grit, perseverance and desire, they’re on their way. Keep those qualities in the forefront of your mind when promoting staff. Remember that this whole issue is about empowering your people. Put yourself in their shoes — would you want to work for someone who encouraged education, supported dreams and furthered your career?
That’s not even a question.
I’m just grateful for our chance to serve you and your business — and we are dedicated to every part of its success, including that of its employees.
Feel free to forward this article to a business associate or client you know who could benefit from our assistance. While these particular articles usually relate to business strategy, as you know, we specialize in tax preparation and planning for families and business owners.
Roberts CPA Group