I heard this phrase from my Dad months ago, while this is one of those phrases that sometimes don’t make sense till they sink in. How many times do we see a professional sports team not investing in the best players, or the best talent? Happens all of the time. Well, it comes down to one thing; those teams who don’t invest in the best talent cannot be hoping to win a championship.
In business, it works exactly the same way. Many business and management gurus say “hire the best people”, but we often see how leaders try to save a few bucks in their people, because “times are though”, or “they will get the best people when they can afford them”. To this, I have come to realize a few things that might be helpful in a company (to my belief):
1. Look for entrepreneurs
True leaders will always make a business better, as they are the backbone of every company. They are the ones who should be best rewarded. You might say this is a no brainer, but you have got to be good at selling your business concept to born entrepreneurs, because the more you have them close to you and engaged, they will become intrapreneurs.
2. Bid on prospects
It surprising to see how many recent college grads are unemployed. Companies need to reinvent, pull new talent in, because they are the ones more capable of adapting to the new business practices. Online global collaboration for instance, is often hard to adopt by older generations, because they were thought to work that way. Gen Yers were wired to work in teams, and to know more than one language as well as many cultures. Different perspectives give you a better approach to any matter.
3. Get creative!
You have to get creative. We see how businesses try to stay in the game by being traditionalists, and tough times expose these companies, as everyone else start to get creative. Innovation is the best way to surpass competition. We see the visionaries, such as Netflix, that saw their success coming more than 10 years ago, the traditionalists, being the case of Blockbuster. Positive thinking and motivation among employees has been proven to provide an increase in company’s creativity and productivity and this is not something new, this goes back to the time when Fredrick Taylor wrote about the Principle of Scientific Management.
4. Raise the bar
Set up a challenge. No team member wants to be part of a team that does everything for him / her. You have got to let your people know how important they are to your company. They have to know your vision, and how are they accomplishing to it. Do not allow them to get bored, to stay focused on the everyday activities. Give them free time for creativity, tools for innovation, challenges to be addressed and goals to be surpassed. For every success that an employee accomplishes, it’s a personal fulfillment for them, for the company they work for, and of course, employee/company engagement and your success.
This might not make a lot of sense coming from me, a recently grad non-entrepreneur, non-business owner, but if I was, that’s the way I’d do it.