Price Your Products for Profit with these Psychological Strategies
Nothing is more important when running a successful business than pricing your products accurately. Most business leaders are already examining the maths, costs and business
If you are like the vast majority of companies out there, you are neglecting employee training and it’s going to cost your business. This is the warning coming out of the Harvard Business review which reported that one of the main reasons top talent leaves an organisation is that they feel their career development is not being supported.
In 2024, there is no excuse for this as there are dozens of new skills that employees need to be trained in for the true success of your business. Here are the most important.
“The only thing worse than training your employees and having them leave is not training them and having them stay.”
(Henry Ford, Founder, Ford Motor Company)
In a world where everything seems more expensive today than it was yesterday training and advancement of staff can seem of lesser importance. As an increasing number of studies show, however, this could not be further from the truth. A lack of training at businesses can lead to decreasing quality of service, high employee churn rates, and more recently, an inability to match more technologically savvy competitors in the market.
In 2024, speak to your accountant to budget for the advancement of your employees and the development of skills within your organisation. Businesses who fail to bring these skills on board, whether through training or additional hires, are guaranteeing tough times ahead.
Like Excel in the 2000s this is the one skill every office employee will need to have over the coming years. At the moment, prompt engineers are commanding enormous salaries for their understanding of just which commands are genuinely helpful when dealing with AI. It’s all very well having the latest technology, but if you are unable to unlock its potential then you are wasting the investment and falling behind every day.
Ironically, in an era where AI is capable of producing a facsimile of good writing in a matter of minutes, genuine heartfelt, creative and original communication is going to become even more critical. Ensuring you have employees who are capable of identifying communication opportunities, and actively translating the insights of AI into easily understood, actionable and motivational text will be the difference in a world littered with paint-by-numbers ChatGPT blog posts and internal emails.
As the world moves increasingly digital and automated it also becomes more vulnerable to cyber-attacks. Online threats can cripple companies and put them out of commission for weeks if not months, and lost information can be very hard to retrieve. While it is imperative that your company has experts employed who understand the threats, each and every employee should also be trained in the basics and potential loopholes that criminals will exploit. Failing to train in this area will no doubt lead to far greater costs down the line.
Managing a team requires a completely different set of skills to just ten years ago. With most jobs incorporating at least a percentage of remote work, and freelancers becoming an integral part of projects, managers need to be up to date on a number of new communication and management apps and solutions. Additionally, they need to know how to motivate and communicate effectively online and develop teams from people located around the world.
In the modern era of online reviews and social media, customer service has never been more important. Now, one bad experience doesn’t disappear, but instead lives with a company online forever. As a result, it’s critical that staff be trained in how to keep customers happy, how to handle a disgruntled customer and, when the odd bad reviews inevitably come in, how to turn them around to the company’s advantage.
We pride ourselves on offering cost-effective payroll and HR solutions, and on the enhanced levels of confidentiality, integrity and trust we bring to each project.
HRPT alleviates business owners’ stress and costs when it comes to dealing with HR Management. We offer innovative and effective, tailor-made and practical HR solutions that meet your exact business needs.
Nothing is more important when running a successful business than pricing your products accurately. Most business leaders are already examining the maths, costs and business
Government’s approach to balance this year’s National Budget 2024 shortfall of R15 billion didn’t set a positive example for South African individuals and businesses that
Copyright 2022 – HRPT. All rights reserved.
Powered by NEMAGLO Digital