Since more than 3/4 of the top-developed nation’s working population are engaged in the service sectors, the intellectual capital and varying levels of development of these people are a major factor in a nation’s competitiveness.
And so it is between competing firms. They do similar things, with the same people, for similar clients, using similar technology at more or less the same prices. However, data shows that there are wide differences in performance between competing firms. Why is this? What is the key factor that is different?
A business is comprised of a group of people who have come together to play a specific role in the success of the business. If the business is to grow, then its people must grow. If the people are small-minded, unmotivated and not very creative – then the business will reflect this.
On the other hand, if the team members see themselves as vital, contributing, and able to excel, then the business will reflect this also. Many organizations invest time and money in the professional development of their people; however, they neglect their team’s personal development.
Investing in the ongoing personal development and training of your team is one of the best investments you can make. If someone makes $50,000 a year and can generate you $500,000 in value, why not take this person and increase their skill, ability, talent, attitude and education, so that they can add a million dollars in value?
A $50,000 investment that brings a $1 million return is a very, very valuable asset. There is no better investment that companies can make than in the education and development of their own people.
Areas of personal development include:
- Relationship skills
- Interpersonal communication skills
- Emotional health and self-esteem
- Personal responsibility
- Financial intelligence
- Personal Leadership
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