If you’re looking to grow your business in today’s economy, having a brilliant leader alone isn’t enough. What sets the great companies apart from the good companies is a well-trained management team and highly motivated staff.
How do you obtain and retain first rate talent?
Fortunately, there are some simple ways that every business owner can help his or her team learn how to work better and smarter, without the huge investment of time and money.
When your looking to create a Management Development Plan, take a look at these 3 Strategies:
- Group Learning
- Pay to Read
- Online Training
Group Learning. Share your knowledge with your colleagues. Whether your office is big (i.e. spans across several locations in the US) or small, executives and management teams can learn from one another. Schedule a monthly call/meeting and update each other on what’s working and what’s not. Help each other brainstorm ideas or communicate something that’s working with your team so another team can benefit from that knowledge.
Pay them to read. This may sound crazy, but executives and upper management staff are extremely busy. Some have more work than they can handle in a day. So – how will they find time to keep current on management, marketing, industry trends and self improvement books?
CJ Advertising, based in Nashville, has found success with a pay to read program they developed. The company actually pays its people to read and report back on what they’re learned to colleagues in the club. Inside the cover of each book, management indicates what an employee will get paid to read it.
Why pay professionals to read? The world is a busy place and employees especially upper management are pulled in many directions. With mounting responsibilities at the office, most have a busy home-life as well. Given the hours some put in, there just isn’t enough time to read unless it’s rewarded and/or encouraged.
Online training. Sometimes managers just need a refresher course on certain topics. Webinars and online seminars are an easy, effective way to keep your employee at the office rather than spending money and time traveling to a conference. Many courses are provided online and make learning that more accessible.
Just the simple fact that your office encourages learning can inspire employees to grow and learn. Even when your looking to obtain talent – a pay to read / online training makes the employee more well rounded and marketable. So it’s a win, win for everyone. If you don’t currently have a Management Development Plan, start creating one today. Developing your management team will not only help develop your current leaders, it can also increase business growth.
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