People development is the act of creating the time and resources to develop your people in terms of management training, leadership development, coaching, presentation skills, influencing, team building, etc. However, how do small businesses do this when there is never a good time, and the budget is limited? This question was posed to Todd Cherches of BigBlueGumball, a training consultant that helps businesses discover the talent within their organization and foster an environment to obtain the best talent outside of their company.
(Photo courtesy of Todd Cherches)
Baby boomers are retiring in droves. Gen Xers are starting to fill those slots by moving up the ladder after years of stagnation. The ever-growing and ever-more-demanding population of millennials is well on its way to dominating the workforce over the coming years. Research has shown that one of the things that all three generations want, especially millennials, is professional development. While financial compensation is of course important, people also want to feel, especially after the recent years of stagnation, that they are moving onward and upward. One of the best things that small businesses can do to invest in their own future is to invest in their people.
We know everyone is too busy, budgets are limited and now is just not a good time. But, if now is not a good time to develop your people, when will it be a better time? The obvious answer is: Never. Now is the time. Without investing in your people to give them the mindset, skill set and tool set they need to manage and lead, you are taking a huge risk. What is the number one reason people leave their jobs? Bad bosses.
People development is not just about turning your managers into leaders; it needs to touch every corner of your organization. In addition to the basic training that people need to do their jobs, training in all of the following areas can help you create a more high-performing organization:
- Time management and personal productivity
- Communication skills
- Public speaking and presentation skills
- Team building
- One-on-one executive coaching
- Mentoring and reverse mentoring programs
While larger corporations may have their own internal training departments, small businesses can simply outsource these responsibilities to an external training partner, professionals who can take care of everything for them while partnering with them to customize whatever kind of professional development program is needed. With people in the workforce starting to jump ship at a moment’s notice for better opportunities, many small business owners may be thinking, ‘What if we train them, and they leave?’ But, the real question to ask is, ‘What will happen if we don’t train them, and they stay?’
This article was written by Michelle Guilbeau of Examiner.com for CBS Small Business Pulse.