Why Investing in Your Employees is the Path to Success

Businesses are always looking for ways to save money and boost revenue. Executives and other leaders want the most innovative and best technology to offer their clients. However, the last place many businesses look to improve is with investing in their employees. Louis Chenevert believes that this is the most obvious answer to improving your business, regardless of what product or service you offer.

What can you do to simplify improving your business? Always look for ways to improve your business by talking with your employees and investing in them. They are easy to access, and they know your business well. You are also inclined to know what they cannot handle and what they can handle. Overall, you know your people better than anything else. Taking a genuine interest in their lives is where you learn more about what they do and how they do it.

Getting to know your people is oftentimes one of the easiest and most profound things you can do. Consider promotions and how they can impact your business. If you hire someone from the outside, you have to spend more to train them. If you promote from within, they are more likely to learn at a faster pace than someone who isn’t familiar with your company.

Louis Chenevert never doubted that conducting his business in this fashion would fail him. As it turns out, his proven track record tells us that he was correct in his assessment. Mr. Chenevert was of the mindset that if you spend most of your time at work during the day, you should at least enjoy your environment. This is why he set out to help his employees enjoy their workspace more.

Over time, he recognized that employees were performing better with a more positive environment, and they were also approaching each tasks with fervor. Viewing projects as a challenge versus dreading them because it’s at work is a great mindset to work in. Mr. Chenevert has wowed corporations for decades, and after retired from UTC, those who followed him had big shoes to fill.

 

http://www.courant.com/business/hc-goldman-sachs-louis-chenevert-20150909-story.html

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