Buck Reed - 5 Strategies From Buck Reed That Can Reduce The Growth Divide

When the digital world was born, it was the Digital Divide that posed an unwavering challenge to businesses. Businesses across every sector experienced inequality in technology adoption, technical know-how, and digital competencies. It wasn't long after businesses started adopting digital media and technologies that a new divide stood before them-- the growth divide.

The Growth Divide is essentially the huge gap between what business owners consider necessary for growth and what employees feel they should contribute to their long-term career. This divide is facing today's business world as it can simply jeopardize a company's position in the market. If a company fails to offer a conducive, growth-focused systems for employees to work in, it may lose its manpower in the competition.

Buck Reed, a renowned business leader, once quoted Jim Rohn saying, “Motivation is what gets you started. Habit is what keeps you going.” He talks about the strategies that can bridge the Growth Divide. Here is an outline of those strategies:

Establish two-way communication

One of the biggest mistakes that organizations make is not placing enough importance on feedback and reviews. It is common for employees to face issues during their workday, and it is within their right to raise their voice.

The lack of frequent feedback proves a disinterest of business owners in solving employees' grievances. This could be a major demotivating factor for employees. Hence, a two-way communication model between employees and employers becomes essential in bridging the Growth Divide.

Consistently creating development opportunities

Coaching, workshops, and seminars may appear as money-draining activities; however, these are occasions that employees actually look forward to. Employees look for professional and leadership development programs to advance in their career.

These activities not only lead to professional development but also bridge the Growth Divide by giving reason for employees to remain with the company. After all, a company will only be able to retain employees if they are given the opportunity to grow and advance in their career.

Update review processes

Most business owners may be confident that their employees are satisfied with the company. But realistically this is not always the case. Employees may feel demotivated and incompetent if the company follows an outdated review and appraisal process.

Employees may not express so, but they do expect better rewards and recognition from their seniors. Establishing a modern performance appraisal process and utilizing real-time feedback can help an organization bridge the Growth Divide by attracting, engaging, motivating and retaining talent.

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