Post the budget many companies are reviewing the implications to their businesses; for some it is going to be a case of how the will be able to reduce their overheads.<!–more–>
Others have been heard to say that they are still happy to spend money, but only where there is a clear Return on Investment. Budgets such as sales and marketing are recognised as being a necessary investment in order for an organisation to grow.
Investing in staff is also a critical factor in the long term success of any company;including annual training as part of any self-development programme. In a continuing and uncertain commercial climate far too many companies are still cutting critical spend such as staff development and marketing.
A critical part to any self-development programme is identifying key attributes that may have otherwise gone unnoticed in an employee. If an employer was to discover that this Marketing Manager also had strong sales attributes that could be utilised by their organisation, surely it would be more cost effective to support an existing staff member as they grow and develop.
This will bring an existing employee into a role that will benefit the business commercially, rather than pay an agency to bring in a new member of staff who may unbalance a high-performing team.
Psychometric testing, particularly <a title=”Psychometric testing” href=”http://www.weareholst.com/the_mcquaig_psychometric_system.php” target=”_blank”>The McQuaig System</a> gives managers and company owners the opportunity to develop personnel attributes and help to empower and refocus team members.
Non-financial benefits such as team away days, duvet days and also time off to watch the World Cup are all tactics being used by company owners to help keep teams motivated and focused.