“Treating employees benevolently shouldn’t be viewed as an added cost that cuts into profits, but as a powerful energizer that can grow the enterprise into something far greater than one leader could envision.”
– Harold Schultz, founder and former CEO of Starbucks.
CNBC once called Schultz an “iconic leader,” and not without reason. He is one of the savviest business leaders of our generation, known for consistently prioritizing his company’s employees, understanding that its customers will benefit as a result.
As per Gallup’s report, companies with a highly engaged workforce have 21% higher profitability. But how to create an inspiring working environment where employees can unlock potential and make the organization flourish?
That’s what HR Bit will explore in this article, so let’s get down to the topic.
What does Full Potential Mean?
Before exploring the ways to unlock the potential, let’s do a quick overview of the term itself.
In a nutshell, a full potential definition means achieving the standard one is capable of; becoming the best one can be; excelling; smashing a record; distinguishing oneself.
As you can see, there are various interpretations of the term, but they all imply performing at one’s best. That’s why the stage of team development in which a team reaches its full potential is called performing.
1. Set quarterly goals
Employees need to understand what the company expects from them to be motivated enough to complete their tasks. It’s necessary to set achievable and relevant goals.
Such an approach will be beneficial both for employees and employers because it’s easier to evaluate the results on a quarterly basis compared to the annual one. The employees feel more confident when they’re aware of their contributions and achievements. Besides, this helps unlock full potential.
Quarterly goals establish accountability because they help employees prioritize their tasks and allow managers to track the team’s progress correctly. Besides, since the business always grows and develops, it’s much easier to update short-term goals than long-term ones.
One of the most valuable pieces of advice in this matter is to hire a remote HR manager. This person will make sure your employees can achieve set goals and eliminate any challenges.
2. Close skill gaps
The skill gap is a double-edged sword. The companies aren’t able to achieve their goals if their employees aren’t experienced enough in certain areas. Meanwhile, workers feel less motivated because they feel less valued since they can’t compete with their colleagues and positively impact the company.
So, how does training develop employees to their full potential?
The answer is actually pretty simple — workers focus on advancing the skills they lack because they understand their current skills mismatch and the demanded level of expertise.
Often, employers aid their teams in bridging the skill gaps by assigning remote HR managers who will help employees outline the specific hard and soft skills they should emphasize.
3. Encourage employees to get out of their comfort zones
Challenging employees is one of the most beneficial suggestions on how to unlock potential of your team. A department swap is among other notable examples because it encourages employees to learn and test out new skills. Your remote HR specialist can help you understand which individual will benefit more in which department to boost the performance and results of such a challenge.
4. Discover what motivates them
If you provide the right motivation to the right people, your chances to unlock full potential of your team members are high. Some are motivated by money, while others value promotions and recognition of their achievements. That’s why it’s essential to understand what drives each person and adopt appropriate approaches.
The key to leveraging this tip is establishing a connection with each team member and understanding their preferences. You can do it yourself or ask your remote HR manager to find out the required information and keep you in the loop.
5. Provide and gather feedback
Feedback is most valued when it’s helpful, constructive, and timely. If you aim to unlock the potential of your employees, make sure to consider feedback as development opportunities, not as means to berate your team.
Also, when being aware of the employees’ perception of the innovations in the workplace, you can understand what your company lacks and introduce changes.
How can HR Bit help you grow your business?
Our experienced remote HR managers can help you understand how to reach your full potential as a business owner and make your company skyrocket. We’ll take care of your main asset — employees, while you’re dealing with the core business tasks.
Feel free to contact us and start working!