Why investing in people is the difference between standing still and moving forward
Once again – or perhaps as ever – businesses are facing choppy waters. Global conditions are creating ongoing pressure, and changes introduced by the government from April 2026 will add further challenges.
So what will see businesses through to future success? The answer is simple – the people within the business.
The challenge for many SMEs is that they struggle to recruit and retain good people. And make no mistake, good people make the difference. So why does this unwanted loss of talent – or the inability to attract it – happen?
Leaders often understand that people want to grow, but they tend to view growth in a narrow way – promotion or salary increases for doing broadly the same role.
In reality, many capable people are motivated by something wider. They want to build skills, gain broader experience and expand their capability.
That is what drives engagement, retention and attraction.
Helping people grow
If you want to retain good people and attract more like them, this needs to be visible and genuine.
Some practical ways to approach this:
- Make sure each person – particularly those you want to retain – has a personal development plan
- Sit down with them and talk through their strengths, then agree where they want to improve
- Build a development plan together that reflects both their role and their ambitions
Forget the annual review.
Set short-term, clear goals within that plan. Meet regularly to review progress, recognise achievements and keep momentum going. Small, frequent wins matter.
People learn in different ways – some by doing, some by studying, some by practising and some by shadowing others. Take the time to understand how each person learns best and support them accordingly. Regular, targeted feedback will accelerate progress.
Good people also want to see clear evidence of progress. Build defined levels or milestones within each role, with criteria that show what advancement looks like. Apply these consistently and celebrate progress when it happens.
If you take this seriously, your team will too.
Of course, this takes time. And for SME leaders, time is always under pressure. But where you invest your time matters.
Investing in your people – particularly your strongest people – will save you far more in the long run than the cost of losing them.
Tinderbox – retention and recruitment service
We now have a dedicated retention and recruitment capability, led by Yasmin Aslam, to help businesses put this into practice quickly and effectively.
If you’d like to explore what this could look like in your business, we’re always happy to have a conversation. My email address is david.turner@tinderboxbd.com
David Turner
MD Tinderbox and Director of The Growth Experts
