Custer’s Last Stand, the Dade Massacre, and Your Business

The Great Resignation continues to unfold. At least, that’s what’s it’s been dubbed in the press to describe the phenomenon of a mass departure, largely regarded as due to the global pandemic shutdowns which caused a huge number of workers to rethink their career paths. So, an unprecedented amount of employees are leaving their current (or previous) positions, seeking out other opportunities. Couple this with the impending New Year and it makes for a particularly precarious employment environment. That means it’s quite possible, you’ll find yourself facing the same situation. Fortunately, there are preventative steps you can take to keep your best employee on board. Biggest Mistakes to Avoid Obviously, this will stir a number of negative feelings. You’ll likely feel angry, betrayed, baffled, and perhaps sad. These negative emotions cause people to act out in rash, impulsive ways. So, be sure to keep your emotions in check, which is to say in perspective, proportionate to the reality of the situation. If necessary, take a few minutes to step away from everything and allow yourself time to relax and clear your mind. When your right-hand person or a rising rock star in your business tells you they’re about to leave, it can be an emotional experience, says Rich Reinecke, co-managing partner of business consulting firm Fahrenheit Advisors. ‘It can be very emotional, initially. Sometimes you’re angry. Sometimes you’re scared,’ he says. But what you do next can have serious repercussions for your business. —Fast Company.com If you don’t act in a rational manner, proportionate to the circumstances, you will come unglued and that’s not helpful to anyone. Instead, keep your composure and act in your own best interest so you don’t hurt your chances of keeping your best employee from leaving. After all, he or she made this decision based on a number of factors and there’s probably a good reason why he or she came to this conclusion. 3 Effective Employee Retention Strategies If your best employee tells you that he or she is leaving next year, you obviously don’t have much time to change his or her mind. However, that doesn’t mean their exit is inevitable. You might be able to get him or her to stay. Here are a few effective employee retention strategies you can use: Have a meaningful conversation. Although money usually plays a significant role, more compensation isn’t always the driving force. There are instances when employees make completely lateral moves from one company to another and pay isn’t a factor. Of course, you’ll probably assume he or she will be paid more, but don’t convince yourself that’s the only reason. Take some time to have a one-on-one conversation and listen carefully to what he or she has to say. You might just find out there are other reasons for their decision to go and you can address those issues one by one. Show your sincere appreciation. Perhaps your right hand is choosing to leave because they feel they have hit a ceiling and are stuck. This is a very common rationalization people use in order to convince themselves to leave their current positions. After you’ve spoken with him or her, be sure to take immediate action to show your appreciation. This can include but isn’t limited to: giving them more say about what’s going on, promoting the individual, or offering a few more persuasive perks. Increase his or her financial incentive. obviously, money talks. And, if the main reason he or she is considering leaving, simply offer to match their new compensation package. If this strategy isn’t feasible right now, you can always do things like extra paid time off, or incremental, scheduled pay raises, or even offering more benefits. What other methods would you suggest using to keep a key employee from leaving? Please share your thoughts and experiences so others can benefit from your unique perspective! Interested in learning more about business? Then just visit Waters Business Consulting Group.

There’s a popular meme going around the internet right now that reads, “Everyone is short-staffed, please be patient.” It’s a polite reminder of the current environment amidst serious disruptions in the supply chain, scarcity of materials, and most importantly, the lack of workers. Last week’s employment numbers were, to say the least, unimpressive, coming in at about half of what economists forecasted. Such a tight labor market means that businesses can’t afford to be picky in order to staff their operations. Unfortunately, this means that some companies will hire individuals that are completely inexperienced in their industries. This causes two major problems simultaneously and business owners and managers must deal with both. Hiring during a Labor Shortage Hiring is always challenging, even during normal times. But it becomes far more problematic when the labor pool is so very small. It sometimes necessitates relaxing some qualification standards and can even mean abandoning those parameters outright. Although it’s best to screen applicants as normal, this might not be realistic. The process of hiring a new employee doesn’t end when the offer is accepted. A key part of onboarding new team members is training. Having a good training process in place is crucial for making the new hire feel comfortable at your company – it’s also a great opportunity to communicate your business’ culture, encourage good habits and ensure alignment on long-term goals and strategies from the beginning of the relationship. —National Federation of Independent Business The result can easily lead to hiring individuals who don’t meet your expectations. It’s important to remember that this isn’t your fault or even theirs. It is simply a reflection of the economic circumstances of the times. So, there’s no personal blame assignable and it’s best to set this aside and address the most real and immediate problems first. Strategies for Training Inexperienced Workers Exasperated business owners can successfully transform inexperienced employees into productive team members by doing one or more of the following: Exercise patience. Your very first order of business is to put yourself in the right mindset. You yourself were probably once green and inexperienced. Just as then, these individuals will need to learn the trade. So, give them a stripped-down, crash course. Begin with the highest priorities first and make this repetitive so it quickly becomes second nature. During this time, you’ll need to be patient as they struggle through a learning curve. Create a boot camp course or environment. If you’re in a franchise business that already has training materials, make good use of these. If not, come up with a simple, point-by-point flow chart that your employees can follow and build a productive routine. Make this process as simple as possible, highlighting the priorities over and over again. The point is to get them as familiar with the operations as possible without confusing them with extraneous details and/or minutia. Offer incentives. A great way to motivate your inexperienced hires is to give them rewards when they reach certain goals. Remember, they’re the ones who showed up for the job in the first place and therefore have the work ethic that you would expect. Put this self-starter mentality to work to your advantage by offering little incentives when they reach milestones. This will also help you readily identify the leaders in the pack and will also reveal who isn’t actually motivated. What other suggestions do you have for training inexperienced workers? Please take a few moments to share your thoughts and experiences so others can benefit from your perspective! Interested in learning more about business? Then just visit Waters Business Consulting Group.