Edmonton Business Consultant | Is Salary The Most Important Thing To Employees
Business owners should understand that as long as they have a need to hire people in their business, that need to look for people is never going to go away according to Edmonton business consultant. The reason for this, is because no matter how great an employee is, and how healthy the relationship is between employee and employer, when employees leave the business, its circumstances their out of the business ownerís control. Because of this, entrepreneurs need to be prepared to always be looking for people, in order to minimize the effect that losing people has on their business.
Entrepreneurs often believe that they can inspire employees to stay in their business for a long time by paying them a high salary. However, Edmonton business consultant says that is not necessarily the most important factor in attracting or keeping employees. Far more important, are the corporate values of the business. If business owners doubt that, they need to understand that the reason why people work for nonprofits, or volunteer for charitable organizations, is because they connect with the values of those organizations. Similarly, if entrepreneurs are able to communicate the values of their company to potential employees, they can ensure that the people who connect with those values will stay in the employment funnel, while those that do not appreciate those values, will decide not to work there.
Since salary is not the most important factor in attracting or keeping employees, once businesses have hired employees that hold the values of the business at heart, businesses should ensure that they are having regular conversations with their employees. Instead of having one large annual review, it is much more effective for business owners to have periodic reviews on a more regular basis. The reason for this, is so that they can react to employees behaviours as soon as possible. Whether they are congratulating an employee on a job well done, or rewarding good behaviour, business owners can ensure that there proactive in helping employees understand the positive behaviours that the employer will would like to continue seeing. Also, Edmonton business consultant says that entrepreneurs can also address employees who are struggling or have problematic behaviour as soon as they see those problems so that they can eliminate problematic issues early on. This positive reinforcement can help employees learn what they should do more of in their jobs.
When entrepreneurs understand that as long as they have a need for people in their business, they need to be replacing those people, they can be proactive in their companies to ensure that they minimize the effect that losing an employee can have in their business. Since the cost of losing an employee often is in recruiting and training new staff members, the fact that entrepreneurs should always be recruiting can help minimize the cost and effect that that has in a business. By being proactive in their business, entrepreneurs can ensure that their company does not suffer if a staff member decides to leave.
Entrepreneurs often think that the most devastating thing an employee can do to their business is to leave says Edmonton business consultant. However, business owners should understand that it is far more devastating to have the wrong people stay in their business then it is to lose one. While there is a cost associated with hiring new staff when one leaves, this is also an inevitability of business.
Rather than taking the loss personally and starting to doubt there is self or their business, entrepreneurs should understand that the reasons why employees leave a business often have nothing to do with the employer or the business. Employees leave when the timing is right for them for a variety of reasons including they may get sick, their spouse might get transferred, and these inevitabilities are going to happen for as long as they have people working in their company.
In order to address this reality of being a business owner, entrepreneurs should always be looking for great people in their business. If there waiting until their business has a need in order to start looking for people, business owners can significantly impact their business negatively. If they are always looking for people however, business owners can have great people identified for when the need arises, and that they can minimize the time it takes to bring that new employee in when one employee leaves.
Edmonton business consultant says in order to help entrepreneurs identify those great employees, business owners should be clearly communicating the mission and the vision of their company. This way, as early on as possible in the interview process, employees can understand the values that the company stands for. The reason why this is so important, is because if people connect to the values of the company, they will be more drawn to apply, and more apt to stay longer in a business. Also, the potential employees that do not connect with those values, often decide to not work for the company, in the business owner can be assured that they missed an opportunity to hire someone who is not going to be a good fit for their business.
Because of this, Edmonton business consultant says salary is not the most important factor in attracting or keeping employees. While wage is important, people are more apt to apply and stay working for companies that they strongly connect to and share the same values with. This is a reason why so many people volunteer and charities, they work for free simply because they align with the values of the organization.
When entrepreneurs understand that an inevitable part of being an entrepreneur is needing to hire and replace people, they can ensure that there proactive in their business to get the best people they can in their business, and once there their their far more likely to stay.