4 Ways To Bring The Best Out Of Your Employees
A
great leader knows their business's most valuable asset is its people.
Here's how to drive the growth of your company's human capital.
great leader knows their business's most valuable asset is its people.
Here's how to drive the growth of your company's human capital.
By Efrat Peled
The
most important characteristic of successful business leaders today is
the ability to embrace, inspire, and manage their organization’s human
capital. Now more than ever, employees drive success by identifying with
the company’s values.
most important characteristic of successful business leaders today is
the ability to embrace, inspire, and manage their organization’s human
capital. Now more than ever, employees drive success by identifying with
the company’s values.
It’s
all about connecting to meaning, rather than regulating execution. The
business leaders creating the most impact are those who recognize and
manage their employees like the valuable assets they are.
all about connecting to meaning, rather than regulating execution. The
business leaders creating the most impact are those who recognize and
manage their employees like the valuable assets they are.
Based on our experience at Arison Investments,
we have learned that if you build meaningful purpose and positive
impact into your day-to-day decisions, unexpected and effective
solutions come from your people on the ground. To move forward, we
embrace our employees' individuality, and make the benefits of their
unique perspective, knowledge, and passion available to everybody
through their businesses.
we have learned that if you build meaningful purpose and positive
impact into your day-to-day decisions, unexpected and effective
solutions come from your people on the ground. To move forward, we
embrace our employees' individuality, and make the benefits of their
unique perspective, knowledge, and passion available to everybody
through their businesses.
Note
the following four key principles for driving professional growth. We
find effective teams are highly attuned to the company's values, and are
capable of sustaining the business for the long run.
the following four key principles for driving professional growth. We
find effective teams are highly attuned to the company's values, and are
capable of sustaining the business for the long run.
1. Empower Champions Before Outsourcing Talent
Before
hiring consultants, understand that the best brainpower usually already
exists within your organization. By harnessing this brainpower and
unlocking the potential from within, you not only reveal the quickest
road to positive results, you show employees the company believes in
them.
hiring consultants, understand that the best brainpower usually already
exists within your organization. By harnessing this brainpower and
unlocking the potential from within, you not only reveal the quickest
road to positive results, you show employees the company believes in
them.
To
begin, identify champion managers making day-to-day decisions across
all the company’s divisions. Ask for their opinions—both formally and
informally—and empower them to submit ideas and plans on how to solve
issues facing the organization.
begin, identify champion managers making day-to-day decisions across
all the company’s divisions. Ask for their opinions—both formally and
informally—and empower them to submit ideas and plans on how to solve
issues facing the organization.
2. Let People Innovate, Own, And Share
Once
managers and employees know the company values their contributions,
encourage them to begin new conversations with others around values.
Urge them to meet and brainstorm together in forum work that serves as a
kind of open-source platform. Encourage cross-pollination between
departments—such as sales, finance, client services—between disciplines,
and across industries, including banking, construction, nonprofits, and
cultural entities. This requires managers to come up with practical
action plans for arriving at their proposed solutions.
managers and employees know the company values their contributions,
encourage them to begin new conversations with others around values.
Urge them to meet and brainstorm together in forum work that serves as a
kind of open-source platform. Encourage cross-pollination between
departments—such as sales, finance, client services—between disciplines,
and across industries, including banking, construction, nonprofits, and
cultural entities. This requires managers to come up with practical
action plans for arriving at their proposed solutions.
As
a leader, embrace these plans and incorporate them into the company’s
overall strategy. Show that you can merge the day-to-day, on-the-ground
work with the company’s broader vision. Once a plan is in action, share
that knowledge across the organization. This way, a larger sphere of
influence is created, expanding best practices across the entire
organization. Procedural lessons can increase efficiency in many
capacities, and ultimately boost the company’s bottom line.
a leader, embrace these plans and incorporate them into the company’s
overall strategy. Show that you can merge the day-to-day, on-the-ground
work with the company’s broader vision. Once a plan is in action, share
that knowledge across the organization. This way, a larger sphere of
influence is created, expanding best practices across the entire
organization. Procedural lessons can increase efficiency in many
capacities, and ultimately boost the company’s bottom line.
3. Build Trust
Find
the right way to pass responsibility between all levels in every work
group. Distribute duties and have different people take ownership of
different initiatives in your corporate social responsibility branch—one
to volunteering, another to sustainability, and others to giving.
Employees can stretch their minds in ad hoc projects assigned to them
outside their mainstream positioning, and they are uplifted by applying
new knowledge to unexpected frontiers. They then see the organization
from a fresh angle, trusting in the company’s commitment to seeing them
succeed in a broader scope.
the right way to pass responsibility between all levels in every work
group. Distribute duties and have different people take ownership of
different initiatives in your corporate social responsibility branch—one
to volunteering, another to sustainability, and others to giving.
Employees can stretch their minds in ad hoc projects assigned to them
outside their mainstream positioning, and they are uplifted by applying
new knowledge to unexpected frontiers. They then see the organization
from a fresh angle, trusting in the company’s commitment to seeing them
succeed in a broader scope.
This
approach is particularly effective among millennials. By earning this
level of trust, employees will be more motivated to bring their passion
to the table, and apply this passion in ways that will push the business
forward.
approach is particularly effective among millennials. By earning this
level of trust, employees will be more motivated to bring their passion
to the table, and apply this passion in ways that will push the business
forward.
Most
importantly, put people with passion to work. Encourage them to bring
their personalities into their projects, even when their style of action
is completely different from yours. If you see that a particular
assignment makes a difference in people’s hearts, there’s no better team
for the project. This is about connecting rather than regulating, and
businesses transform by unlocking potential from within.
importantly, put people with passion to work. Encourage them to bring
their personalities into their projects, even when their style of action
is completely different from yours. If you see that a particular
assignment makes a difference in people’s hearts, there’s no better team
for the project. This is about connecting rather than regulating, and
businesses transform by unlocking potential from within.
Senior managers at Bank Hapoalim in Israel encourage employees to initiate progressive solutions for resolving debt collections and exceeded credit lines by:
- Identifying the individual needs
- Understanding the customer’s perspective and situation
- Tailoring the best solution together with the customer
The
result is a win-win for all involved. Employees are more motivated,
they retain more customers in the long run, and the bank has a 50%
reduction in accounts directed to its collection department. Around 70%
of the bank's customers are young people.
result is a win-win for all involved. Employees are more motivated,
they retain more customers in the long run, and the bank has a 50%
reduction in accounts directed to its collection department. Around 70%
of the bank's customers are young people.
4. Reward Peoples’ Sense Of Purpose
Employees
add financial value to a company and it is imperative to acknowledge
this by compensating them accordingly. This is not just about salaries;
it’s about establishing the right structure for annual employee
assessment that takes into account recognition for the personal set of
values they bring in for their thought patterns.
add financial value to a company and it is imperative to acknowledge
this by compensating them accordingly. This is not just about salaries;
it’s about establishing the right structure for annual employee
assessment that takes into account recognition for the personal set of
values they bring in for their thought patterns.
For
each action plan, create an index of milestones that will allow you to
encourage and show recognition, creating a direct link between human
capital, positive performance, and sustainable success. Show and
communicate that employee ideas have been adopted by the company. A key
element in rewarding is to give a platform where people can expose their
thoughts, present their ideas, and share their innovations, values, and
action with colleagues.
each action plan, create an index of milestones that will allow you to
encourage and show recognition, creating a direct link between human
capital, positive performance, and sustainable success. Show and
communicate that employee ideas have been adopted by the company. A key
element in rewarding is to give a platform where people can expose their
thoughts, present their ideas, and share their innovations, values, and
action with colleagues.
According to the KPMG Global Construction Survey for 2015,
most organizations now routinely consider diversity in their hiring
practices, but this typically covers gender, race, and culture. More
enlightened employers are also seeking diversity of a different kind—of
cognitive thought.
most organizations now routinely consider diversity in their hiring
practices, but this typically covers gender, race, and culture. More
enlightened employers are also seeking diversity of a different kind—of
cognitive thought.
Efrat Peled is chairman and CEO of Arison Investments,
and also leads the Shari Arison Family Office, with 27,000 employees in
40 countries across five continents. A qualified CPA, holding an EMBA
from Kellogg-Recanati, a BA in accounting and economics, and a
postgraduate diploma in real estate appraisal and management from Tel
Aviv University, she also sits on several major industrial and
philanthropic boards. Peled is a member of the World Economic Forum’s
select group of Young Global Leaders, the Clinton Global Initiative Lead
group, and is repeatedly ranked on Fortune’s 50 Most Powerful Women in
Business, and on Forbes World’s 100 Most Powerful Women.
and also leads the Shari Arison Family Office, with 27,000 employees in
40 countries across five continents. A qualified CPA, holding an EMBA
from Kellogg-Recanati, a BA in accounting and economics, and a
postgraduate diploma in real estate appraisal and management from Tel
Aviv University, she also sits on several major industrial and
philanthropic boards. Peled is a member of the World Economic Forum’s
select group of Young Global Leaders, the Clinton Global Initiative Lead
group, and is repeatedly ranked on Fortune’s 50 Most Powerful Women in
Business, and on Forbes World’s 100 Most Powerful Women.
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