WMA Headlines November/December 2019

July 20th, 2021 by Nathan Hobbs

Financial Planning: To Budget for Success, Invest in Your Employees

By Mac Mayberry

It’s everyone’s favorite time of year again: time for forecasting. (You’ll find some help for this on page 36, with KMR’s latest forecast.)

As a result, I find myself crunching numbers for what hopefully will turn out to be a strong year in 2020. That process includes identifying the necessary expenses for increasing business growth, partly by helping both our inside customer service team and outside territory service representatives to hit projected sales goals.

Make no mistake about it: Education, training and available resources are the tools that will help your company succeed in reaching its goals.

We all know there’s no greater asset to any business than the people it employs—especially while there’s an employee shortage in our industry (and most trades for that matter).

Now is the time to assess what your 2020 budget allots for the education necessary to empower those employees. How much time are you willing to invest in providing the tools and resources essential to personal growth in the workplace?

One of the most important jobs we have as company owners and managers includes making the necessary investments now to retain employees and secure a future for the industry.

How do you do that? Start by allowing your employees, on many levels, to connect with other industry professionals—including those who aren’t within your own company. Get them excited about their careers and the industry by allowing them to participate in tradeshows, industry conferences or through involvement in committees, in order to learn from their peers. There’s no greater opportunity for educating at all levels of your company. The bottom line is: Don’t be afraid to seek out educational opportunities that will contribute to more confident and content employees.

Our company’s employees continue to benefit from a variety of World Millwork Alliance online educational courses and networking events, and we’ve established long-lasting relationships that have opened us up to new ideas and business challenges.

Make investments in education one of your goals for a great 2020!

Mac Mayberry is the past chairperson of the World Millwork Alliance.

To view the laid-in version of this article in our digital edition, CLICK HERE.

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