Investing in people skills for long term benefit
The arguments for investing in employees are well versed. Indeed, forward looking businesses have continued to retain an emphasis on people development even through the recession. Years of experience shows that this is an investment that pays off. In fact, recent research conducted for Investors in People by Cranfield School of Management at the height of the recession found a clear link between effective management and improved business performance.
To deliver maximum value, investment in skills should always be linked to business objectives. What are the core capabilities that all employees need to drive the business forward? For some it might be great sales skills, client management capabilities or technical expertise that can drive product design and innovation.
Once the required skill-set has been identified, businesses then need to understand where these skills already exist, where they need to be strengthened or even developed from scratch. Creating a clear plan that maps the needs of the business against the skills and potential of employees is the next step.