Do you hear the word ‘invest’ and instantly tense up a little? Perhaps you feel you’re not in the position to be doing any investing, or have had a previous negative experience with an investment you were almost 100% sure about. Whatever your opinions, the reality is we spend our lives investing in one way or another, some we reap the benefits from, some we may have wasted our efforts with.
Whether you’re throwing your money and skills into your business, or putting all your time and efforts into somebody you mentor, it’s not guaranteed your investment will ‘pay’ off, but how will you know if you never try?
At RedSeven, we believe in the importance of investing in your people; in business you can’t succeed alone, you’ve only got 1 pair of hands and 24 hours in the day. Having a solid support network around you is paramount for success, and a lot more enjoyable – why would you want to do it alone?
Some of the RedSeven team attending a Branding Workshop in Birmingham
Our focus on investing in our people stems from many beliefs; the benefits to the individual as well as the company are somewhat never ending. Here are a couple of the best!
Showing you care
For some it may seem unnecessary to invest more into their employees than the agreed salary; they get x amount of money for doing x and that’s the end of it. Money, however, is no longer the extent of job satisfaction, and such companies may find they suffer with a high turnover of staff.
Individual level: Knowing the company you work for are happy to invest in you in some way is a great feeling; your sense of worth and value will be heightened leading you to appreciate the company and see them on a more human level as opposed to a corporate giant.
Company level: Showing you care doesn’t have to cost a fortune but can have a massive impact on team morale. This means people will most probably enjoy their roles more and you’ll see less people leaving as a result. The company atmosphere and environment will no doubt experience a boost too.
Talent Spotting
Nothing will lower a person’s work-ethic quicker than seeing someone who does less than them be a) treated the same way and b) paid the same amount. And do you blame them? Why should they make any extra effort and take on the consequent extra stress for no benefit whatsoever?
Cameron Ashwin was chosen to be taken to Barcelona with Rob for educational purposes as well as a reward. Here they are in Barcelona at the Camp Nou stadium
“Good people know that they are good, but they don’t know how great they can be until you invest your time and effort into them and show them what is possible.” Rob Cotterell, MD of RedSeven Marketing
Individual level: Recognising that someone is singling you out as their best worker, or as an asset to their team, warrants you doing more than others; as individuals we want to impress to be recognised and appreciated, not undervalued and ignored.
Company level: If you can see that some members of your team do more, or do a better job and have more of a positive impact than others, it’s a good idea to appreciate them publicly. By investing in them through gifts, financial incentives, or promotions, they will not only be grateful and continue to work hard, the people around them who are, let’s say average workers, will see that hard work is rewarded and consequently ‘up their game’. It’s a win-win for all involved.
Money isn’t everything
There are plenty of methods to invest in your people, and some industries suit different types to others depending on the size of their company/team, the budget they’re working with and their personal preference.
Investing in your team is worth your while
Here are a few we favour:
- Time: Spending time with your people through 1 on 1 sit downs, and taking an interest in their personal goals, what they want to achieve inside and outside of the company, allows you to not only build better relationships with your team, but align their development with a focus that will motivate them.
- Education: Investing resources into the personal development of your team members is a fantastic way to build their confidence, open their eyes to taking on extra responsibilities and enhance their career satisfaction. Showing that you are willing to sacrifice their everyday tasks every now and then to truly invest in their skills and capabilities proves they mean more to you than their financial value to the company.
- Rewards: Whether it’s a financial incentive, an office party, or a trip away for a competition winner you are saying ‘Thank you’. Not only that, the individual will see it as benefits or perks which calculate in their minds as more reasons to stay in your company.
We asked a few members of our team to example their experience with investment within RedSeven Marketing. Here’s what they had to say:
“I remember early on in my career someone took me to help me buy some professional outfits. I had been a student for 4 years and never worked in a professional environment, so the fact that someone took the time out to help and guide me, first of all made me feel special, but also impacted my confidence as I walked into the office the next day feeling like a catwalk model.” – Nina Collis, Office Manager
“It feels good. It means they see potential in you, from the money, trips and other investments Rob has made for me I now know how to treat people when I start my own business.” – Cameron Ashwin, Assistant Owner
Cameron was one of the RedSeven team members chosen to go skiing this year
“Since I’ve started working with RedSeven I’ve had lots of amazing opportunities… Rob’s invested in me going to one of the offices in Madrid for a week which was incredible… I love that we get rewarded for the work we put in… I think it’s really motivating with all the incentives and competitions, it really pushes me to put in 100% all of the time” – Georgie Busby, Leader
Georgie was chosen to join the team in Chamonix for her results within RedSeven
It would be extremely difficult to calculate the financial outlay that RedSeven have put into their team members within the four years we’ve been running, but it would be even more difficult to calculate the return on investment we’ve benefited from. To include the increased sales, loyalty we’ve created, skills that have been passed on, as well as the enthusiasm and motivation that have been boosted through vicariously watching others be rewarded, would be an impossible task. We’d love to know though!
For inspiration on investing in your people, and to keep up with RedSeven rewards, follow us on Facebook, Twitter, Instagram and LinkedIn.
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