Highlight the Stars in Your Business: Building Your Human Capital

‘Tis the season for holiday decorating. Whether you string lights on every possible surface in your home, precariously place an elf on a shelf, or chop down a douglas fir for your living room, decorations are a big part of the winter months. Especially leading up to Christmas. 

Decorating Christmas trees is a tradition that dates back to 16th century Germany. It takes skill, planning, and the proper ornaments to decorate the perfect Christmas tree. The same can be said for a business. Without the proper people in place, your business, much like a Christmas tree, can fall flat.

Learn how to strengthen your Human Capital and how to improve your Christmas tree decorating skills.    

Hang the Ornaments:

Every ornament has its place on the tree and we all have our favorite ornaments. It might have sentimental value or be extremely fragile. We wouldn’t put these on the weakest branches or within swatting range for our cats. These favorite ornaments go on the sturdiest branches. We take great care to ensure they stay protected and secured to the tree. 

Much like ornaments on a tree, every employee has their place in the business. Business owners who do not want to lose key talent should take similar precautions. Provide your employees with the benefits, competitive salary, and path for growth that they deserve. If not, they could fall off the tree and out of your business. 

People are everything. Scott Snider says, “I don’t care how good your product or processes are, if you don’t have the right people – you’re screwed.” The Human Capital in your business is one of the most difficult to navigate and one of the most important. Human Capital is the measure of talent on your team. 

According to Walking to Destiny by EPI CEO, Christopher Snider, “62% of owners indicated that finding and retaining top talent is the biggest challenge they face.” When working on your employee development plans, follow a series of steps that encourage growth in your employees and your business. 

String the Lights:

The lights on your Christmas tree allow the ornaments to shine. Each twinkling light reflects the shimmering crystal pieces, colorful baubles, and intricate creations that adorn your tree. Without these lights, the tree would still be beautiful, but it would be clearly missing something to bring out its full beauty. 

Do you offer your employees the tools and resources for them to shine in your business? Without giving your employees the opportunities to shine in your business, they will disappear into the background and will not be motivated to do their best. 

What are you doing to motivate the talent you already have in place? Employees want more than just a “job.” They want to be a part of something bigger. Are you a passionate leader who provides inspiration for your team? And mainly, do you have the right incentive programs in place to motivate top talent and keep them motivated?

Top the Tree:

Atop almost every Christmas tree is an ornate decoration. This prominent position on the tree is reserved for the most extraordinary ornament: the star of the tree. How do you feature the stars in your business? Do you offer them opportunities to work on key initiatives in the organization? Do they have the chance to be promoted to leadership positions? 

Without taking care of the stars in your business, your organization will fail to reach its full potential. Chris Snider writes in Walking to Destiny, “In addition to providing a path for professional growth, you should consider providing retention incentives to key employees. They provide the opportunity for your superstars to benefit from value creation.” This incentivizes key performers to stay with the company and encourages growth. 

Learn how to improve the Human Capital in your business by reading our latest case study! 

Happy holidays from all of us at Exit Planning Institute!