You have invested in your sales funnel and have clear customer engagement plans. You ensure your customer satisfaction is high and continue to improve from any negative feedback. You love your customers, love engaging with them and want to be their number 1 choice.
To do that you need awesome employees. You need talented, passionate staff that love your product, love your brand and are your brand ambassadors (regardless of their role).
So what do you do when it comes to your employees? Do you have the same level of dedication to obtaining and keeping the best of the best? How do you select your potential employees? What is your on boarding process like? Do you provide enough brand training? Do you offer ongoing support? Can your employee grow with the business? How do you handle “outside the box thinkers”? How do you handle employees showing initiative? Do you have reward program? Or do you believe they get paid wages and that’s enough of a reward?
These are just some of few questions you need to ask yourself. A lot of effort is invested in finding talented employees, but not enough to keep them engaged. Talent is hard to find, but once you do, you need to know how to embrace it, how to work with and how to use it to help you grow your business. Ultimately you want your talent to grow with your business and to help you and not your competitors!
Why do you need to get serious about talent management practises? Because if you don’t, they will be snatched by your competitors and you will be working with mediocre or average performers, who won’t help your business thrive.
The list I compiled in this article is a combination of my professional experience and personal experience and that of some of my friends. I have been involved in hiring, on boarding, HR management within my various functions for over 10 years for both Australian and International businesses. These are such common mistakes, that if you or your business are doing that chances are you are experiencing either high staff turnover overall, or are keeping underperformers but struggling to keep the talent. Please STOP and re visit with your team your employee management practises.
Your employees are your greatest assets; they should not be viewed as an expense on your P&L. They can make or break your business. As a smart business owner, you want to hire the best and you want to keep the best. Even, if you think from purely economic point of view…the cost of advertising a position, recruitment agency costs, training costs, maybe DISC or similar personality tests, time of people involved in the actual interview process and preparation of letter of employment…you want that to work in your favour. You want a great return on your investment, a long term return. High staff turnover, is high cost to your business, not only from economic stand but also from the knowledge your business losses when they lose staff.
High staff turnover is a problem and there can be many reasons for it. However in this article, I will be focusing not on just any staff turnover. I will be focusing on the talented staff. Why? They are what makes or breaks your business and they are the ones right NOW being head hunted via LinkedIn with job offers from your competitors!