Edmonton Business Consultant | Should Entrepreneurs Keep Employees Forever
Entrepreneurs often or smudge of their heart and soul into building their business, that they cannot help but take it personally if employees leave their organization says Edmonton business consultant. However, business owners need to understand that far from taking it personally, attrition in their organization is a very typical part of being a business owner. As long as their company depends on employees, there is always a chance that those employees in circumstances are going to change, and business owners are going to need to find new people.
There are several things that entrepreneurs need to keep in mind when they build their business, to help them understand not only why they cannot keep their employees forever, but why it should not be a goal. Edmonton business consultant says that one of the first things that entrepreneurs can do in their business is schedule regular and periodic reviews in their business. The reason why this is so important, is by having a regular time to meet with staff, can allow entrepreneurs to congratulate and reward hard work as business owners see it in their staff, and also be able to quickly address struggles that employees might be having as well as fixing problematic behaviours as soon as they see them. This is a great step to ensuring that employees know what behaviour their employer wants to see, so that entrepreneurs can cultivate the right behaviour and the staff.
However, entrepreneurs need to understand that not everyone is going to be a fit for their business, despite having regular reviews and rewarding good behaviour. Edmonton business consultant says because of that, entrepreneurs should not worry that losing a staff member might cost them money. The reason is employees that are delivering subpar performances can often be more costly to business than letting them go. Poor employees demotivate and drive away good staff and that can be a much larger cost than having to replace an employee.
Something else that entrepreneurs need to keep in mind says Edmonton business consultant, is that salary or wages are not the most important reasons that people choose to work in organizations or stay there. This might be surprising, but to see evidence of this, business owners can look at nonprofits as well as charities to see that people are happy to work for a lower wage or even for free as long as there values align with the corporation that they are serving. In fact aligning their values with the company that they work for can be more important than salary as well as the work-life balance, the commute to work and the location. When entrepreneurs understand that salary is not the most important determining factor, they can focus on finding employees that can line with the values of their organization. By doing that, entrepreneurs can increase their chances of finding the right people in their business that will be less likely to leave the organization because of the emotional connection.
Business owners have often been told the cost of losing staff can be more expensive than the cost of keeping the staff that they have says Edmonton business consultant. However business owners should not take that to mean that they should never lose employees. Not only is it inevitable that staff are going to leave the organization due to a variety of reasons that are outside the control of the entrepreneur, but also it is far more costly keeping the wrong employees around then it is to replace them. Business owners can keep several things in mind that can help them minimize the transition between losing an employee and hiring the right one to work in their business.
One of the most important things that entrepreneurs can do to minimize the effects that losing an employee has on their business, is to continually be recruiting in their business. Some entrepreneurs may believe this is a waste of time, because they may have a full complement of staff, but Edmonton business consultant argues that this is actually an effective technique in ensuring entrepreneurs are meeting the right amount of people in order to identify who the best fit for their business is. One of the reasons for this is because entrepreneurs are never going to know when it might be that the staff member leaves. By being proactive, and ensuring that there already meeting great people, business owners can increase the number of people that they are meeting to find the right fit for their business.
Not only should entrepreneurs be recruiting people on a regular basis, but they should be communicating the values of their organization during that recruiting stage. By clearly communicating to potential employees who they are and what they believe in, can help entrepreneurs identify which employees share those values while ensuring that the people who do not share those same values take themselves out of the process early on. This way, business owners are ensuring that they are streamlining the process, and keeping their funnel open with the people who have the biggest chance of being the best fit for their organization.
Business owners should understand that it is very unrealistic to think that they are going to keep an employee in their business for life. Because of this, entrepreneurs need to understand that by having more than one person able to take on any role in the business, can ensure that a business owner never misses production time due to one staff person leaving. Because of this, a business owner will not feel pressured to hired just anyone in order to fill the spot, and that they can feel free to take the time required to find the best possible person for the job. Edmonton business consultant says that this is key to ensuring that a business owner hires only the best people for the job and for their organization.