Topic: Developing my people better
Answer: You are right to raise this concern. If you have good people it is crucial to retain them but not (necessarily) paying them more than they are worth. The good people of today want to know that they play a key part in what the business is trying to achieve – so make sure that they are aware of how they play such a part. Secondly be prepared to discuss with them what their career aspirations are – most good people are not totally focused on the money but would rather be with a company where the value they add is appreciated and that they are rewarded appropriately for their efforts – career progression with some management responsibility maybe. Remember for a business to do really well its first ‘who’ and then ‘what’ – keep those good people onside and with you as much as you can. You’ll find some helpful sections in our Leadership course in the Knowledge Hub – Leadership and Management section and we have more on the way…