Who you Hire: Getting the Right People on the Bus
Finding the right Staff is one of the biggest challenges any business can face. Getting that first employee is big decision! It is often an informal process beginning with Craigslist ads and “spread-the-word” strategy. Many new business owners have no formal experience in hiring and staffing and often choose their first employees from trusted social sources, church, friend or relative. There are clear advantages to this approach initially. However, I rarely see original employees that are suited for or interested in making the changes necessary in order for the business to be Profitable. They often resist, block and disagree with the recommendations I make and in the end often leave.
One of my favorite business author Jim Collins describes a phenomena which in my experience is absolutely true. Getting the “Right people on the Bus” changes everything. Getting the Wrong people on the Bus changes everything.
How you pay them:
Ask yourself, “What would it feel like to walk into my business and be greeted by HAPPY employees eager to perform?” When you get your staff FIRED up around the success potential for the business and have an innovative Compensation Strategy that rewards them for their contributions – that’s exactly what you get.
How businesses structure their compensation can significantly impact profitability and success. Ask yourself –
Does your current compensation approach support the business goals of growth or profit? If your business grows and your staff gets busier – are you asking them to work harder for the same pay?
How do you feel when you are asked to work harder for the same amount of pay?
What I see often is a business owner that in the beginning when business was slow – has hired their first employee – a trusted friend & paid them very well. But when business picks up, instead of the employee being excited for your success – the employee begins to resent the new workload even though it’s what you’d been both working towards for months. That friction creates an unhealthy work atmosphere and often results in the business stalling.