Do you have trademarks or even patents?
Where is your company knowledge held?
If you lost your three longest serving team members what impact would it have?
I am privileged to work with businesses than believe in investing in their people. However, over the years, what I have noticed is that it is not enough to just invest in your people. You have to make sure that information is shared and that knowledge is transparent and available.
I have worked with businesses that have, sadly, lost some of their best staff very suddenly through an accident; others who have lost their staff because they've had to move on for personal reasons or because they have been offered better opportunities. One of the single biggest challenges businesses then have, is when all the skill, knowledge and experience walk out the door with a person - because the time has not been taken to record what that person knows and how that information and knowledge links into other people's skills and knowledge.
If you were to lose your three longest serving team members, or the three people who knew the most in each section in your business, would you be able to recover?
When you get a new team member on board, how quick and easy is it for them to learn what they need to know so that they can perform at the highest level? One of the incredible things that comes from having a culture where knowledge is shared and information is openly available, is that people do not hoard their skill and knowledge and what they have learnt over the years as a way of keeping their job secure.
One of the best methods of making this happen is to make an expectation that all staff will have somebody that knows as much as they do, so that they can take leave and have holidays. This allows for job rotation; makes work a lot more interesting and creates a security - the company cannot be held to ransom by a small group of people or single person who for a short period of time has some crucial skillset which only they hold.
The use of a Skills Matrix is one of the best ways of ensuring that this is done effectively. This shows the Core Skills per department; followed by who is able to do the work under supervision, do the work competently and train others to do the work. When this is openly displayed for all to see, it is easy to see where your skill gaps are.
It is also easy for employees to see who they can approach to help them learn something. One of the great benefits is that we can show people a career path and what they need to know if they want to grow into a new role. This can then be tied into professional development plans and can ensure that your organisation develops a learning culture.
Ensure that your company's future is sustainable and secure by putting into play some basic reporting - creating a culture that allows and encourages people to expand their skillset, share information, to grow and thrive - and in turn help the company to do the same.
As always if we can help in any of these areas please do get in touch.
Here's to your success!