What’s your biggest asset?
Your Team I hope.
Yet your biggest asset - your people - doesn’t appear as an asset on your Balance Sheet.
Protecting your biggest asset needs to be a priority.
In a competitive business environment, you need to attract the best talent.
Now you have their attention, you need to recruit the best talent.
And now they are an employee, you must retain them.
The game of attraction, recruitment and retention is part art - part science.
Attraction
Do all elements of your business present your business in a positive light?
What does your office or workplace look like?
How are your staff dressed?
How do staff conduct themselves and what do they say about your business to outsiders?
How do your staff speak on the phone?
How does your online and social media profile look?
How do you treat your staff?
How do your staff treat each other?
How do you treat your customers?
Are you always recruiting and open to new talent joining you?
Do you have an active network of advocates who identify talent for you and direct them to you?
Recruitment
Do you have a recruitment process?
Do you possess the internal skills to recruit effectively?
Do your complement your internal skills with external skills to optimize the recruitment process?
Do you involve your team in the recruitment process?
Do you offer incentives for staff to introduce potential candidates?
Do you have open floating briefs with recruiters to introduce talent?
Do you keep up to date on market salaries and ensure you pay above market?
Do you have professional employment contracts and policies in place?
Do you have generous and ethical conditions of employment?
Do you have an induction system to transition new team members into your workforce?
Do you have a Buddy System to help newbies?
Retention
Do you have monthly or periodic one-on-ones with each staff member to monitor and appraise their performance?
Do you have a formal review process and remuneration review annually?
Do you have a nominated person for staff to approach regarding their employment?
Do you have an attractive bonus or incentive scheme for both individuals and teams?
Do you have awards or a recognition model in place to highlight and reward exceptional performance?
Do you have special or innovative employment conditions to retain staff including extended leave, wellness days, loyalty bonuses or other benefits?
Do you have periodic staff hospitality functions to thank your team?
Do you have a staff training program?
Do you have meetings, workshops or retreats for staff to provide feedback and assist in operational or strategic planning?
These are just some of the questions you must ask yourself in assessing your ability to attract, recruit and retain the best people.
In a competitive environment, businesses with the best teams have an edge.
Challenge yourself to be disciplined, innovative and generous in adopting strategies to attract, recruit and retain the best people you can.
Remember that your biggest asset isn’t on your Balance Sheet.
They’re either standing in front of you now or working for your competitors.
Attract them.
Recruit them.
Retain them.
Grow and protect your biggest asset.
To start creating sustainable success in your business and life, download a copy of my eBook 'The Success Algorithm' which details my process to work less and earn more. You can get a free copy on the Giveaways page of my website. Plus some bonus videos from my Fourth Moon video series to reach your goals sooner!
All the best,
Darren K Bourke
Connect with Darren on LinkedIN here.
