Let Failures Be Your Guide to Success

Raffa Financial ServicesRaffa Financial Services on 05/14/2020

The world of business is changing and changing faster than ever in response to Coronavirus. Whether in the form of marketing, sales and prospecting, or company culture and employee satisfaction, new solutions and practices are sprouting up everywhere, some forced, and some not. Competition has always been at the heart of our culture, but keeping up with such a vast number of moving parts is a considerable challenge.  

So how do you keep your business moving and growing in a continually changing environment without breaking the bank? You take full advantage of the resources already available to you: your employees. 

Your greatest resource, your driving force, your differentiator—each one of your employees has their own set of experiences and tools they bring to the table, many of which you may not even know about. It’s critical to develop a company culture that enables employees to expand to their fullest potential so the pool of resources you have access to grows more abundant and more readily available.  

Especially during a time when businesses are being pushed to their limits, making the most of your resources is vital to success.  

But how do you access those resources? How do you design a company that’s able to tap into their employees’ highest potential, and thus the company itself?  

Here’s where to start: 

No failure = no gains 

Creating an environment where failure isn’t discouraged, but instead celebratedis key to making people feel comfortable trying new things. Now that more companies than ever before are navigating the world of remote work, this is especially true. 

Failure is a symptom of having tried something, which is in itself a success. Teach your employees not to fear retaliation for having failed at trying something new. Instead, celebrate their initiative and use it as an opportunity to learn how to do better next time.  

Consider having roundtable discussions with your employees to talk about their experience navigating change happening within your company. Discuss failures and wins with equal focus. Offer your employees the opportunity to lend their opinions and suggestions. 

If your business is one of the many that are navigating remote work due to COVID-19, it’s an excellent opportunity to tap into the wealth of knowledge and experience your employees have to offer. Create space for them to float their solutions to challenges. You may be surprised at the unique quality of the insights they offer. Their points of view, based on the inner workings of your company, may be invaluable.  

The more people feel free to try out new things without being afraid of negative repercussions, the more willing they will be to give their ideas a shot. Plus, when employees are being challenged to try new things, it’s critical they feel supported and understood to avoid burnout and exhaustion.  

The real value 

An innovative company is one that can keep up with changing markets and evolving competitors. People want to be part of growth and inspired by a company that values a healthy exchange of ideas. Your company’s flexibility allows for momentum to build within its culture, driving it past roadblocks and paving new roads to the future. 

Investing in practices that cultivate and nurture innovation in your company is investing in your company’s present and future. And it may be the driving force that allows you to stay afloat during uncertain times.  

 

Need a better ROI on your corporate employee benefits? At Raffa, we’re not interested in finding you a policy solution for this year. We’ll create a long-term, employee benefit strategy designed to help you become an employer of choice. Want to build a better future for both your business and your employees? Get in touch with Raffa.

 

Photo by johnalexandr

 

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