Free consult & free copy of book

E-Myth – “Why most small businesses don’t work & what to do about it”

Contact Us


Most 5 star CPA Google reviews in Canada

Read Reviews

Chartered Professional Accountants E Myth

1 Fixed Monthly Fee - Planning | Accounting | Taxes | Consulting

Helping Canadian businesses beat the odds!

Edmonton Business Consultant | Should Employers Keep Employees Forever

It is important for employers to keep in mind that if they let the wrong people hang around their business, it is unfair to all says Edmonton business consultant. Bad people can drive away good and hard-working employees because great employees are performance motivated and often get tired of having to compensate for employees who are not. Business owners often understand the importance of keeping their staff, because the cost of losing employees can be expensive. However, keeping the wrong staff can be even more expensive, and rather than worry about keeping all staff at all costs, business owners should instead focus on attracting the right staff to their business.

Something that entrepreneurs should keep in mind when they open their business says Edmonton business consultant, is that once they start to need people in their business, that is going to be a need that never ends. And as a result, entrepreneurs should always be recruiting in their business. One of the most important reasons for this is because employers will never know when they are going to need another great employee. Whether they have unexpected growth, or they have employees leave, business owners are never in control of when their staff members decide to move on. By always be recruiting, entrepreneurs can ensure that there always able to fulfil job openings with the best people they can possibly find. If they wait until an employee leaves in order to fill that spot, they may end up hiring based out of need, instead of who is the best fit.

One of the most important things that entrepreneurs can do when they are recruiting, is to clearly communicate the companyís values to all potential employees. Edmonton business consultant says the reason for this is because if people do not like businessís values, they will not consider applying for the job, and the business owner will have avoided having the wrong person apply to work for them. The reason why values are so important is that employees generally want to work somewhere that they believe in. For example, people happily work for nonprofits, or volunteer for charities, because they believe and what the organization stands for. The same thing should happen in a business. If people understand clearly what the organization stands for, it will attract the people that hold those same values high, and the reason for them to stay can become more important than even salary.

It is extremely important that business owners ensure that they are working to keep the employees by increasing the retention rate when they can, all while ensuring that they are not encouraging the wrong people to stay. By minimizing the transition period, by always be looking for the right people, entrepreneurs can ensure that they are filling their company with people who have the same values they do. And when staff move on, is his owners can replace them with other people who are going to be as good fit in the business.

When entrepreneurs lose their staff, they sometimes begin to doubt themselves, their business or their vision says Edmonton business consultant. But employers should not take it hard, since employees leaving often has nothing to do with the business. Currently, the average millennial employee will only stay with the company for 2.3 years. Reasons why staff leave often have nothing to do with the business such as they get sick, their spouse gets transferred to another city, and business owners need to understand not to take it personally. Those circumstances are going to happen, and the need to always be finding great people is never going to end in their business.

Since employers are always going to need to be looking for great new employees, they should be working to minimize the cost of transition period Edmonton business consultant says the cost of transition is the recruiting of a new employee and the training of a new employee. One way that business owners can minimize the effect transition has on their business, is by ensuring they have a minimum of two people at any given time who are familiar with any role in the business. This way, no matter which employee leaves the business, the business can continue operating seamlessly. Therefore, an entrepreneur is not feeling pressured to fill that role with the wrong person, that they can wait and ensure its being filled with the right person for the organization.

Another way that business owners can minimize the effect of transition on their business, is always be recruiting for new staff people Edmonton business consultant says one of the biggest mistakes that entrepreneurs can make is when they have enough staff members in their business, they stop looking. There is several reasons why this is ineffective the first reason is as previously stated when employees leave, it is when the circumstances are right for them, never when it is convenient for the business. An entrepreneur never knows when that is going to happen, so they always need to be looking for great people. By having great people identified ahead of time, it can minimize the time between needing a person and hiring them.

Another way that entrepreneurs can ensure that they are attracting the right people to their organization are effectively communicating corporate values to potential employees. Edmonton business consultant says that the people who are going to be the best fit for the business, will feel strongly about what values the business stands for, and that can often be more important to the employee then salary or wages even. By ensuring that everyone knows what the business stands for, they can ensure that the staff members that they do get, feel similarly, and are working in the business for all the right reasons.

Losing employees is unavoidable in business, so entrepreneurs need to work towards ensuring they can minimize the effects in their business, so that they can continue to operate seamlessly while attracting the right people.