Edmonton Business Consulting | the Cost of Having the Wrong Team
Edmonton business consulting | how to find the right team
If your small business needs effective and proven marketing strategies, consultation services and professional business coaching contact our Edmonton business consultant at Brown and Associates chartered professional accountants. We dedicate ourselves to helping small businesses succeed. Free consultation will be offered to first-time clients. Your clients will also receive a copy of the best-selling business book “E-Myth” by Michael Gerber. Schedule an appointment via email at [email protected] or if you prefer to talk over the phone you can call us at 780-665-4949.
Studies show that 50% of small businesses fail during the first five years. Failing to recruit the right staff is 23% of the reason why businesses fail. Our Edmonton business consultant would like to discuss how to find the right team now to motivate them to stay. We have more articles like this one in our website at www.spurrell.ca.
It’s inevitable for businesses to face challenges. One of these challenges is losing employees. Business owners often underestimate the cost of losing an employee. Having to go over the hiring process all over again protects precious time and resources away from the business owner. This will the growth of their business thus costing them money. The time required to hire new employee vary drastically. To find the right candidate , employers need to interview a lot of people. While this is no problem for bigger companies, small companies will struggle to interview a lot of people. Business owners also underestimate how expensive it is to keep the bad employee. Over time the bad employee’s bad work ethics and suboptimal work performance will add up.
You may be asking if keeping employees forever is possible. However our Edmonton business consultant found that it’s impossible to keep an employee for life. Having an effective hiring process would help. Most corporations prefer one-on-one interviews. We believe however that for small businesses, group interviews are better and more efficient. Employers can see more people thus increasing the chances of finding the right candidate for the job. They should be focused on asking questions that will help figure out what the candidate’s interest and values are and avoid asking generic interview questions. Group interviews reduces and employer’s time commitment to hiring and is a more efficient way to find the right candidates.
Hiring based on company mission and values can help you find employees that will stay for longer. A lot of businesses prefer to write appealing company mission and values. That’s Burrell Associates EPA however, we believe that it’s more beneficial to write polarizing company mission and values. Said values will help you deter potential candidates who oppose your views from applying. And attract candidates who believe and the company mission and values. Employees who believe in the company mission and values tend to be more tenacious than loyal. This means they draw inspiration from the said mission and values making them more resilient to have difficulties and they also tend to stay in the company longer.
Edmonton business consulting | the cost of having the wrong team
Our firm employs talented Edmonton business consultant who are dedicated at helping small businesses beat the odds. At Spurrell and Associates
chartered professional accountants we believe in small businesses’ success. To help the small business we offer free consultation for new clients, they will also get “E-Myth” the best-selling business book written by Michael Gerber. Talk to us over the phone at 780-665-4949 or write to us via email [email protected]
Having the right staff will help you succeed in business. Did you know that 50% of all small businesses fail during the first five years? 23% of those failed businesses stem from having the wrong team. This article will show you how to get better and more loyal employees. If you learn something from this article, check out our website at www.spurrell.ca. We have more educational articles like this one.
It’s only natural to want to grow your business. In fact the business owner should always want to do that. It’s challenging to grow business. As the Edmonton business consultant, we know you need a massive time commitment to either execute new marketing strategies, coming up with new ideas, or finding new leads. However this could be slow down drastically by losing employees. Business owners usually underestimate the cost of losing an employee. Losing employees will take time and resources away from growing your business. The hiring process is often a long and expensive. Your company will have lower productivity from losing the employee thus generating less revenue.
The first step to hiring is recruiting. Often business owners find it challenging to find the right people for the job. It’s often time-consuming to go through resumes upon resumes of people that may or may not even show up during an interview. Bigger corporations usually have a dedicated HR team for this type of situations, it’s usually not a problem for them. However smaller companies don’t have the resources to commit to interviewing large quantities of people one-on-one. They should instead do group interviews. This will allow employers to meet a number of people at one time. This lessens the time pressure of hiring. However business owner should also avoid asking generic interview questions. Instead did you try to find out the candidate’s interests and values.
Second step is training. The training process will depend largely on the market and industry. Some jobs require less training others require more. During the training process, the new hire will inevitably make mistakes. It may or may not cost you money. Next up is the transition period.
We believe as the Edmonton business consultant that employee interest and values are very important. Often times businesses write universally appealing corporate mission and values. However having clear and polarizing corporate mission and values can be beneficial to hiring the right team. Potential candidates who disagree with your mission and values will not attempt to apply but will attract similar minded people here company. Having employees with the same mission and values are often more loyal and tenacious. This means employees stay longer and will persevere through challenges.