This is part of our People Matter series, designed to help you create a team that will last.
Building out a budget combines a lot of complicated techniques, and there are always going to be competing interests. So you have to be proactive. Seriously.
Employee engagement and happiness isn’t usually first on the list when discussing budgets, but it absolutely should be.
Don’t say people are your number one priority if you don’t actually list them first. Think. Plan. Actually making people a priority, and developing the kind of talent your business needs to keep growing, takes real resources, and budget time is the perfect time to initiate that thought process.
Some questions to consider:
- What positions should I upgrade?
- What will turnover cost me (in real dollars) if I burn out my people?
- What projects have already or will pile up in the next 3-9 months?
- Are we attractive to the types of employees we want to hire?
And most importantly:
- Are we intentionally developing our people?
Because if you aren’t…someone else definitely will.
If you’re being proactive, and really thinking about and working on these questions, you’ll be ahead of about 95% of your peers. If you’re not, you’ll be playing catchup and scrambling around to find people and get things done. All it takes to avoid being in that group is a little forward thinking - you can do it!