Employees are probably the largest cost to your firm, but they are also the foundation upon which the firm’s entire value proposition is built. To maximize employees’ contribution and effectiveness, your firm needs to have a range of programs aimed at investing in them — and making sure your investment pays off.

Start by understanding how each employee’s role supports the firm’s overall strategic goals. Document not just job responsibilities, but also the results those responsibilities are meant to achieve. Recruit the right people, who fit with the firm culture, and develop employees’ skills so their abilities grow as the firm’s needs expand.

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