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Effective management strategies help retain talented employees

For business owners, taking the time to invest in employees is crucial.

For business owners, taking the time to invest in employees is crucial.

For all business owners, taking the time to invest in employees is crucial. Without giving staff members the opportunity to develop their skills, companies can pay the price and business success may never be fully realized. By offering workers the chance to improve their knowledge, this can lead to higher retention levels and employee engagement.

However, investing in staff development doesn’t mean that owners have to forget about improving their own skills. Honing your management ability helps your company, in the long run and betters your chance of achieving  business success.

Business hiring picking up
Many companies are focused on hiring more employees. As more staff comes through the door, it becomes crucial to make sure that your management skills are sharp as this helps to promote better employee engagement.

According to the recent Small Business Confidence Survey conducted by TriNet, the majority of small companies in the U.S. are positive about the direction their businesses will go in this year. One aspect contributing to the optimism is the employment outlook. The study revealed that half of the small businesses participating in the survey plan to add to their workforce in 2014. Additionally, hiring talented workers is one of the top three things that 35 percent of small business owners want to do this year.

“It’s encouraging to see that small business owners are investing in the future of their companies, including hiring new employees,” said TriNet President and CEO Burton Goldfield. “Getting great people on their team as well as managing expenses are two challenges for all small business owners.”

Right management strategies for employees success
As more staff members are brought on board, business owners must ensure they are managing these individuals to keep them happy and engaged in the workplace. While good management skills are one of the top tools an employer needs to retain staff, growth coaching can also be an effective method as the Harvard Business Review reports that employees want to be managed and coached at the same time.

Pointing to the results of its own research, the HBR revealed that by developing strong growth coaching skills, business owners can increase worker engagement and productivity as well as  improve customer service and the overall business reputation.

Business Management Daily offered tips for improving management strategies, one of which is for business owners to sit down with employees and ask them what they think about the company, their position, their career goals and how you can help them develop their individual talents.

The website suggests that you polling staff members to uncover the areas of their job in which they’d like to improve, or to check-in periodically to see if they’re still comfortable working for the company. By following these strategies, business owners can have happier and engaged employees.

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