Edmonton Business Consultant | Should Entrepreneurs Keep Staff Forever
In often is an unrealistic goal for business owners to think that they can keep staff forever according to Edmonton business consultant. The reason for this, is because employees often end up leaving businesses that they work for for a variety of reasons that are out of the entrepreneur’s control. In fact, the average millennial employee only stays with their employer for an average of 2.3 years. By understanding that attrition is going to happen to their business as long as they need people, business owners should ensure that they are attracting the best employees possible, but also minimizing the effect of transitioning staff in their business.
One of the reasons why business owners take it so hard when a staff member leaves, is because they understand that there is a high cost to losing employees over keeping them. The reason for this, is because recruiting new employees and training them to have a high cost as well as take valuable time in business. However, entrepreneurs should also realize that keeping the wrong employee is far more expensive than bringing a new employee on. If they have the wrong person working in their business, business owners should not try to keep them at all costs, because the wrong employees can often drive away or demotivate good staff which can more greatly affect the business.
Because of the high cost of having the wrong people working in their business, business owners should ensure that when they are looking for new staff, they are looking for the right ones. They can do this says Edmonton business consultant by communicating their companyís values to all potential employees. People tend to want to work for organizations that they connect strongly with and like the values that they stand for. Therefore, by ensuring that there corporate values are clearly listed, employees who connect strongly with those values will want to apply, and those who do not will not. This is a great way that business owners can ensure that right from the interview process, they are eliminating employees who will not be a great fit.
Another way that business owners can ensure that they always have the best people in their business, is to never stop looking for people. If entrepreneurs stop looking for people as soon as they have enough staff members, they will be ill-prepared for replacing an employee when there employees leave. Because staff members leave when the timing is right for them, business owners can never predict when that is going to happen, and so by always be looking for good people, they can ensure that they are always identifying the people who are going to be the best fit for their business and minimize the amount of time it takes for them to have a need arise in their business and when they can fill it.
Edmonton business consultant says business owners who understand that losing staff is not necessarily a reflection of themselves, can ensure that they are working in their business to have the best employees possible so that they can have the most successful business.
While entrepreneurs often work extremely hard in order to find the right people for their business and increase the retention rate of those staff members, Edmonton business consultant says it is not realistic for a business to think they are going to keep all of their employees for life. Staff members have a variety of reasons why they might leave a business including they get sick, they retire, or their spouse gets transferred to another city. Business owners should not take the fact that staff members leave personally, and understand that as long as they have people working for them, they are going to need to replace people.
Edmonton business consultant says that the average millennial employee currently only stays an average of 2.3 years with each employer, making employee attrition even more a business reality than it ever has been. Rather than business owners trying to avoid losing employees at all costs, business owners should instead minimize the effect that inevitable transition is going to have in their business. For example, when way that business owners can ensure that their business is able to operate when they lose a staff member, is to ensure that all employees are cross trained to do any job in the business. Having a minimum of two people familiar with any task that needs to get accomplished, business owners can ensure that their business is left unaffected when the inevitable happens and staff member leaves.
Business owners should also ensure that they are always recruiting in their business, because finding the right employee often takes a significant amount of time. By always be recruiting, business owners can maximize the amount of time they have to search for the right one, which means that even before there is a need, business owners can have great people identified. When the need does arrive, it can minimize the amount of time between needing to replace someone and hiring that person.
Although attrition is a natural part of business ownership, when business owners work to increase the retention rate of their employees, they will be able to keep the staff that they have for as long as possible. One way to do this says Edmonton business consultant is to host regular and periodic reviews of all of their staff members. By setting aside regular blocks of time to have conversations with their staff, business owners can ensure that these reviews are outcome oriented and that they use positive reinforcement to ensure that there encouraging their staff members to repeat the behaviours they want to see, and their fixing and addressing any problematic behaviours before they become a habit of employees that can end up demotivating the other staff members. Edmonton business consultant says by doing these things, entrepreneurs can ensure that they have the best people in their business for as long as those employees are able to stay.