The Marketing Academy
Building People to Last
How do you measure the return on your investment in people? No doubt that people are a key asset in every global enterprise. But it’s yet to prove how much budget is to be spent ideally in obtaining, improving and retaining valuable resources. When the global is at a crisis, do we need to convince employees to stay?
Crisis equals opportunity plus risk
When the world is at an impasse, successful companies manage to use the opportunity to invest. Investing in people has always been a long-term strategy and when motivation is at an all time low, the least thing you want to handle inefficiencies. Team building but most of all, getting the companies focused on the recovery is the best way to build capabilities while leveraging internal resources. The return on this investment is easily measured by the differential of where you were before trying the cost saving strategy and the quick wins from a market oriented strategy.
Set the Standards
Another way to measure the payback of building capabilities is by looking into the cost of hiring experienced professionals, versus set an internal structure of breeding and growing marketers. Many companies have set themselves to become world-class schools of marketing. Not only they profit in terms of credibility whenever they innovate and deliver new products to the market, which reflects on the share value, but as well, they build a strength from within, operating as a truly global company and leveraging ways of working and roll-out best practices in an efficient way. Both ways to look into it translate into positive results.
If the key question still remains, “how much is the ROI of building teams?”, let us know what would you measure for?