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How you manage talent spells the difference between success and failure. To gain a competitive edge, leaders must be prepared to address shifting economic, social and demographic trends that impact workforce performance. Stay informed with research, insights and advice from our leading industry experts. The world of work is changing. Is your company ready?

Wednesday, November 17, 2010

Reap the ROI of your human capital investment

Are you receiving value on the dollars spent training and developing your workforce? Lost opportunities are a sunk cost and impact earnings so it is fiscally smarter to help your employees experience and internalize organizational opportunities.

When companies don’t optimize their talent investment, relationships and knowledge and valuable human capital are lost. You decide: are your organization/business unit/departmental recruiting and training policies and processes a drag on productivity?

The challenge is to allow individuals to grow and evolve in their careers. They need to take on new responsibilities, possibly make horizontal moves into new departments, change functions, and develop an understanding of the company from research, engineering, product/services marketing, prospecting, lead generation and sales perspectives. This will enable your top performers to thrive and deliver on established productivity, customer service and sales goals.

Leaders need to coach, mentor, and provide green field training opportunities that enable your staff to grow – experiential learning is paramount. Give your workforce opportunities to engage in simulations and real-time learning experiences.

If you offer the opportunities and incentives, you will work wonders when it comes to helping your leaders and staff take pride and ownership in their careers. Bright executives know they need to create their own opportunities. You need to help them do just that. They simply need to contribute insights and ideas, take risks, and add value outside their role's defined parameters.

As a leader, it’s your duty to support and guide them in this bottom-line enhancing process.

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