Guest Post: Managing Your Talent – Your Greatest Asset!
By Carole Richter, CRichter ~ HR Consulting
You’ve hired your team! Now, how do you manage that talent?
Most small business owners have demonstrated they are savvy enough to have launched an organization under the most demanding circumstances in business today. But I believe all small business owners go through a rude awakening when they realize the demands of being responsible for every aspect of that business – marketing, legal, accounting, IT, operations, and human resources. If HR isn’t one of your strongest skill sets, I hope to share insights that will build your HR competencies!
Your people are your greatest asset. Are you wondering how to maximize their value to you and your organization, and vice versa? Here are what I consider to be the top five steps to take to drive results and ensure success.
What are your organization’s goals for the next year? Do you want to increase revenue by 20%? Increase production by 10%? Once you have one to five goals for the organization, set team goals that directly support the organization’s goals and individual goals that support the team goals. Then, everyone is aligned with your vision.
You have to tell the teams and the individuals what those goals are so 1) they have purpose, and 2) you can hold them accountable. Remember, communication is the exchange of information. So collaborate with your teams and utilize their input and ideas. Make time to communicate with all the individuals that work for you – regularly and frequently.
REWARD YOUR PEOPLE
Competitive compensation and benefits are important, but most of us place more value on other forms of recognition. Have you witnessed the expression on an employee’s face when thanked for a stellar idea? Have you seen the flush of pride when an employee is publicly recognized for a job well done? The gesture costs nothing but your time and effort. There are many zero-to-low cost means of rewarding employees that one can consider.
DON’T AVOID CONFRONTATION
As a new manager, I found this to be the most difficult task to learn – to address poor behavior or performance immediately. Always discipline in private, present the issue for discussion, consider the employee’s side, and work together towards a solution. If the behavior or performance can’t be improved, then you need to get better talent. Often, the business suffers solely because we are avoiding confrontation.
BE A LEADER
Communicate your vision and compel employees to follow you by being collaborative, decisive, and respectful!
Managing your talent can be one of the most difficult and rewarding aspects of being a business owner. The task is difficult because you are always dealing with variations on a theme! The people and the factors involved in each developmental opportunity are rarely the same. But, when your employee succeeds, you succeed.
Carole Richter, owner of CRichter ~ HR Consulting, has been a member of NCIA since May 2014. Carole consults with owners of small-to-medium-sized businesses to support, complement, or develop their skill set in talent management. She offers extensive experience in recruiting, training and facilitation, employee relations, negotiation and conflict resolution, talent management, leadership development, and succession planning.
For more on navigating the complex issues of human resources, register today for NCIA’s upcoming Educational Series event, Recruit, Retain, and Develop Your Talent, taking place on March 2 at the History Colorado Center in Denver!
Recruit, Retain and Develop Your Talent — This panel of experts will help you build your human resources competencies! They will present the latest trends in talent acquisition and management. You will learn how to select the best person for the position and your organization, discover how to set and align your teams towards organizational goals, and drive and engage your best performers while managing others, up or out! Acquire the knowledge and tools you need to ensure your employees and your organization are successful.