Investing in your team is critical to the success of your construction firm, especially when there is a labor shortage. Investing in your employees will reap a strong return on investment and help you attract better talent. You want your employees to feel like you not only value them but want to see them succeed.
Candidates Are Looking to Grow
Candidates are looking for career development opportunities. The best talent will find your company more appealing if they know you invest in your employees. They’re looking for opportunities to receive certifications and degrees, such as safety and project management certificates. If you advertise that your employees have certificates, you’ll not only attract more candidates, you will also attract more clients.
Return on Investment
When you invest in your team, you reap a strong return on your investment. This is especially true if you invest in their education. You can promote to your clients that your employees have sought-after certifications, such as Occupational Safety and Health Administration training or LEED professional credentials. This will help you land more clients and jobs.
Investing in employees improves retention. If your employees feel like you care about them and are invested in their future success, they are far more likely to stay with your company. This is especially true if the employees have kids in college, and the company is helping pay for their tuition. Employees are interested in more than just money. They want to work for a company that is compassionate and humane.
Tips for Investing in Your Team
There are many ways to invest in your employees. Some companies pay for higher education. They usually set up a grade-based system, for example: A-100%, B-75, C-50%, etc. Some companies provide tuition reimbursement for employees’ children. For example, they might give $5,000 per child for education.
Some companies invest in technology, providing employees with hardware, software, and apps, which can help improve their efficiency. You can also invest in employees by reserving a box at an arena, hosting annual family days, and recognizing long-time employees with personalized gifts. Sabbaticals are another option. For example, you might give an employee a month off after they worked 5 years.
Investing in your team is a great business move. You’ll help build a better employment brand and make your company more attractive to prospective candidates and clients. In a talent shortage, you need candidates to want to work for you. This won’t happen unless you have a reputation for treating employees well and truly investing in their careers. Show them that you value them and want to see them succeed.
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