10 Apr Training Assignees to Create Value Helps in Focusing on Target Market
Value and its constant creation for our customers. That is the key differentiator that will enable some businesses to survive over others in our economically challenged times.
Global mobility managers who are fighting to keep their departments and projects intact must remind themselves of this reality constantly. At the same time, they have to be able to teach it to their assignees and employees.
Not surprisingly, customers are holding on to their hard-earned dollars. Before the pandemic, they might casually spend a few bucks, out of sheer curiosity to try a new product.
Today, the first questions they will ask before opening their wallet go like this: “What am I getting out of this product or service if I decide to spend it? Will it make my life in this pandemic easier? What value does it give me?”
To create value, the CFO Perspective reminds us that we must always keep our market in mind. Too often, we as executives fall in love with our vision or get dazzled by our own product that we often forget to see them through the eyes of our customers.
Do they really need what we are offering? Is it a must in their to-buy list? If so, why? If not, why not? And if they truly need it, what is their pain point? How much are they willing to spend for it? What’s the highest amount they are willing to pay before they cave in? What’s the lowest amount they would rather pay, because they want to save up?
The second thing we must do is to get our assignees to buy into our vision, and create a culture that will encourage them to create value. As advised by PricewaterhouseCooperrs, our talents must be given an environment where they can exercise their creativity.
Once they understand our vision and align it with what their customers want, their minds and imagination must have enough freedom to come up with innovative solutions. The ability to respond rapidly can spell the difference between success and devastation.
The ninjas in Silicon Valley were able to adapt to the changing needs of the market because their executives gave them the space to do so, as well as the confidence that they have their organization’s strong support.
The third key to maintain the momentum and to sustain success is a program that will record productivity, performance, and results.
As HR professional Sahar Pervez points out, the employees and assignees will keep on creating value if they themselves know that they are valued. The usual perks like a hotel accommodation or an out-of-town vacation may not be possible now, given current economic realities.
The good news is, assignees do understand the economic impact of the pandemic and will not ask for the usual rewards. But no matter how seemingly modest, tokens of appreciation can boost their morale and inspire them to better their performance.
Aside from public praise, a basket of rare goodies, like the delivery of fine-dining cuisine on a silver platter or a cute toy for their kid, can remind them that past luxuries are still around—and in the near future, just might be enjoyed again.