"Investing in Staff: The Greatest ROI for Your Business"
As a CEO, you are responsible for ensuring your business is successful, profitable, and sustainable in the long term. To achieve this, you must make strategic decisions and investments to drive growth that delivers value to your business. While strategies like cutting costs, marketing, or expanding into new markets are often at the forefront of business discussions, one overlooked strategy often can yield the greatest Return on Investment – investing in your staff.
For years, growing up in foster homes made me feel disadvantaged, but I’ve since come to embrace this upbringing as my superpower. It has empowered me to forge unconventional yet meaningful connections by creating and developing family through business, where I prioritize people over profits.
I often hear the wise advice of Michael Sgro, a remarkable coach and friend, echoing in my mind, urging me to “slow down,” as I have a tendency to identify and tackle obstacles relentlessly, dissecting their causes and effects as assist with solutions. However, while well-intentioned, this approach can sometimes be “too hot,” as Michael aptly puts it, resulting in missed opportunities. As a result, some colleagues may perceive me as intense and intimidating, but what they may not realize is that almost everything I do is driven by my deep sense of purpose, which revolves around helping others and myself transform adversity into opportunities—that’s my “why.”
However, as he often is, Michael is correct as I need to “slow down” and stop being “too hot.”
For those who have not had my path to understand and value the employee relationship, you can still benefit from viewing your staff as your most significant ROI. Investing in your employees’ growth, satisfaction, and well-being may seem like a soft or intangible expense. Still, the reality is that it can deliver tangible and significant returns, as employees are the lifeblood of any organization. Their development and satisfaction can impact a company’s bottom line and create the biggest competitive advantage. Together, we will explore why investing in work-life harmony through initiatives like emotional intelligence and accountability training can lead to significant returns on investment.
Employees who feel supported in managing their work-life balance tend to be more engaged at work. Emotional intelligence and accountability training can help managers and employees better understand each other’s needs and expectations, leading to improved communication, increased capacity, and collaboration. Engaged employees with higher Emotional Intelligence are generally more productive as they focus on the opportunities in front of them and don’t get bogged down with the negatives, which may slow them down, and if they slow, they unknowingly, without intention, can slow down the organization’s progress.
Investing in staff development programs, such as Emotional Intelligence training and skill-building workshops, improves employees’ skills and boosts their confidence and job satisfaction. Employees who feel confident in their abilities are more likely to take initiative, solve problems independently, communicate effectively, and contribute innovative ideas, all of which drive productivity.
Still need more benefits?
Emotional intelligence training can help employees manage stress, develop better interpersonal skills, resolve conflict, adapt, and make informed decisions. This can increase efficiency, capacity, and productivity as employees are better equipped to handle challenging situations and build positive relationships with colleagues and clients.
High levels of stress and burnout can result in increased absenteeism, decreased productivity, and higher healthcare costs. Investing in work-life harmony initiatives can help reduce stress levels and prevent burnout. This can lead to fewer sick days and lower healthcare expenses.
Leaders with strong emotional intelligence are often more effective in managing their teams. They can provide better support, coach employees more effectively, and create a positive, accountable work environment. Developing leadership skills through training can lead to better decision-making and employee retention, ultimately impacting the bottom line.
However, the investment is a two-way street.
Employees have to have the courage to invest in themselves. Sounds simple; however, being vulnerable in this process is extremely difficult as you are trying to create behavior change, which takes time, and many people want immediate fixes. Professionals have been told for years that they will need emotional intelligence if they want to succeed at work and get ahead in their careers going forward. Today, that is precisely what we’re seeing. Not only is emotional intelligence a skill hiring teams actively seek out in candidates, but it’s also playing a role in who gets promotions and raises.
What should you do when people don’t seize the opportunities you offer?
Nothing!
With time, through a sort of osmosis, employees will either naturally align with the opportunities or choose to move on, and both outcomes can be mutually beneficial.
Prioritizing your team is not solely a moral obligation but also a strategic move with the potential for substantial returns on investment. Investing in your workforce isn’t an expense; it’s a strategic investment that can deliver the highest ROI for your business. Focusing on initiatives such as emotional intelligence development, enhancing employee experiences, fostering intrinsic motivation, and bolstering accountability can yield significant returns by elevating employee engagement, productivity, well-being, and retention. Simultaneously, it enhances your company’s reputation and competitive edge. Ultimately, this investment nurtures the individuals steering your organization’s success, benefiting both employees and the bottom line.
