5 Key tips to assist in growing your business
Murray has selected a chapter from Scaling Up that personally appealed to him: The Managers – Keeping & Growing (Educating) the Team.
The executive summary reads:
"Once you've hired your team members, it takes great managers to keep them happy and engaged. Failing to develop these managers throughout the organisation can become a major growth barrier. We identify five critical activities that distinguish great managers and the routine s they use to educate their people – and we suggest that the term manager be replaced with the word 'coach' which more accurately describes the role."
To assist in keeping your talent (e.g. staff) engaged, Verne has developed 5 main activities that successful managers regularly employ. In reverse order of importance:
5. Hire Fewer People but pay them more
4. Give Recognition and show appreciation
3. Set clear expectations and give employees a clear line of sight
2. Don't demotivate; "dehassle"
1. Help people play to their strengths.
Over the next 5 weeks we will take an excerpt from Verne's book on each of the 5 points listed above and use this as a discussion point in the hope that together (we are here to help you) we maximise the growth potential of your businesses.
MURRAY'S KEY POINTS - From excerpt point 5 - Hire Fewer People but pay them more...
- Money does not necessarily motivate all employees (consider flexi-time or work from home arrangements)
- Have a documented, well thought out and rigorous hiring system in place to minimise time wasters and provide the best opportunity to scoop the best talent from the available pool (consider external HR consultants and/or self-educating via Top Grading or similar)
- Match your remuneration structure to fit the company's culture and vision (are you service focused or sales driven?)
- Be flexible in your approach to employing staff
Excerpt - Hire Less; Higher Pay Read more…