Our Value – Reduce Employee Turnover
Often I have been told by small business owners that they are good with HR as they are compliant and do not have any issues currently. I am the first to tell them that it is great to hear, however, I believe that is just the tip of the iceberg. The value that I want to bring to these businesses is strategic in nature and will bring more than compliance to the table. I want to show them how using a more strategic approach can save money and increase profits and grow their business.
The key ingredient is putting strategic initiatives in place and staying consistent with them throughout the organization, including HR. What I am proposing to small businesses, is to bring these same strategic initiatives via low cost, high impact Human Resources and HR Technology solutions.
The first step in the process is to get management to buy into the concepts and learn “The Big 5 Principles of Leadership That Grow Profits.” The first in the series of these presentations is taking place this Friday at The Frontier in RTP, click here for details.
This session will be an introduction to a management training program whereby management teams will learn how to engage, motivate and connect with their teams. It all starts at the management level and flows down to your employees. Whenever you look at lists for the reasons for turnover, a poor manager is always in the top 5.
I think back to earlier in my career when I was promoted to a management position. I was in my late 20s and had been performing at a high level in my role at the company. Everyone agreed that the next logical step was to become a manager. However, training was not in the plans and it was a sink or swim situation.
In retrospect, the entire team of managers could have used it as their was not consistency within the group and no one to model oneself after. I feel, all things considered, I did ok as my team did not turnover until the economy tanked and across the board reductions were made. This was good as turnover is expensive, estimated at 30-150% of the salary of the job being filled. I certainly did not want to contribute to that.
Companies that take that strategic step beyond just HR Compliance, average twice the revenue per employee than those who solely focus on compliance. Who would not want to double your revenue? Make that investment in your management team. They are the ones who interact with your first line employees and have the greatest impact on reducing high employee turnover.