Have You Shifted Gears?

Has your company shifted gears, to take advantage of these 4 developments in the economy?

• GDP growth 4.1% in June
• Unemployment 3.9%
• American workers received largest pay raise in 10 years
• Corporate taxes driving profits

Simply put, if your company is not seeing gross revenue and profit growth of 8-10%, you need to speak with us. There are either structural problems with your organization preventing you from taking part in this economic boom, or you have people unable or unwilling to ramp up their performance.

During times of economic hardship, many employees slide comfortably into a mode where they coast along, secure in the fact that no one seems to be doing any better than they are. These are precisely the people you need to retrain, re-motivate, or replace today. Many have found comfort in mediocre performance and are loathe to gear up and run fast again; they will curtail your revenue while poisoning your new personnel.

If your staff is ready to go and free from the malaise described above, but you are still not performing better than last year – see us about structure. Many companies make the necessary changes to save on costs (usually payroll) during the down times, only to be caught unprepared for the influx of capital and opportunity in a booming economy. Processes and staffing changes that made sense a few years ago could well be hampering your progress now – don’t let any more time elapse without talking to someone who can analyze your company and point out opportunities.

We offer a 1-hour free consultation that can help you determine where you stand, but whether you speak to us or someone else – look at your company critically and determine if you’re keeping up with your competitors and taking full advantage of the current economic trends. Remember – inflation is coming, as sure as night follows day. How are you going to afford higher costs when your income has remained flat?

Sticking your head in the sand only ensures you will be eaten without warning.

How many of your employees have personal problems affecting their concentration and performance?

While most companies have some form of HR department or employee policies, many are focused on preventing claims rather than developing employees. Staff training is imperative to prevent abusive or illicit behavior; one need only turn on the news to see the damage done when this is not a priority. As important as this “preventative maintenance” is, however – we feel there is another important aspect that goes completely unaddressed. Personal development of staff members is an ongoing process of education and coaching. Providing employee guidance on education, finance, and health goes a long way towards ensuring a productive environment.

How much concentration is lost in a workday when an employee has gotten him/herself in a financial bind that could have been easily prevented?

What is the cost of an employee who deals with your customers but has never had training in conflict resolution?

How many hours of productivity have been lost due to sick days, to say nothing of the reduced pace of an employee who is always tired?

These are important issues, and while they must be addressed delicately, they cannot be ignored if you want to grow your people along with your company. We are seeing an increasing number of new employees entering our client’s companies with no education on making a budget, controlling expenses, and avoiding debt. Many are in dire need of a mentor yet have no one to ask for help – HR departments in most companies are woefully inadequate to handle this.

It is quite simple to arrange for this training from outside sources; you do not have to become an expert on these issues. Some topics we have found useful:

• Financial Fundamentals – Managing Your Money
• Management Theory – Are You A Leader or An Analyst?
• Health, Energy, and Performance – How Your Health Determines Your Income

These are some of the topics that we and our partners provide – they are by no means an exhaustive list. You can schedule a free consultation with us here to go over details and assess your company’s needs.

Volumes have been written regarding employee performance and the lack thereof, with very complicated explanations that border on psychoanalysis.  For us, it’s really quite simple – there are only 3 reasons why our employees are not performing the way we expect them to.  Now for the uncomfortable part – at least two of these reasons are our fault.

They don’t know what you expect

If the expectations for a particular task or procedure were not explained clearly, you cannot fault them for underperforming.  Explaining something once, in a manner that made sense to you, is not a way to convey expectations to an employee.  The standard must be clear, along with the goal we are trying to achieve.

They can’t do what you expect

This is where training comes into place, both at the outset of their career and beyond.  Simply telling someone to perform at a certain level and providing no training is like asking them to watch a movie with no sound and report on it later; everyone will have their own interpretations and come up with their own conclusions.  In business, this results in staff members doing the same task many different ways.  Companies that forego continuing education and training for their staff risk delivering inconsistent results to their customers and partners.

They won’t do what you expect

Once everyone is clear on the expectations, and has proved to be capable of performing the task or procedure through training and testing, there is only one reason for non-compliance or poor performance, and that is a “won’t do” situation.  The solution is simple; you must remove them from your team or company.  You are under no requirement to coddle employees who chose not to perform; indeed, you are doing a disservice to the producers by letting them stay.

Applied evenly, this simple approach to managing performance will keep you in good graces with HR, as well as demonstrate a fair and understandable management style to your employees.  As with all strategies, this seems easier in print than it is in practice.  Give us a call or set up a free one-hour consultation to learn more about this and other techniques for making your business less stressful to manage.