To lead is to measurably help others succeed. What is the top way you seek to grow your business? You say growth is not a priority? Not really? But you don’t want employee retention either? That is the route to a slow death.
Check out our thoughts on team leverage.
Have you defined a business growth strategy? You would be surprised how many of our clients say they are happy with their size and therefore don’t have a growth strategy.
That is a big mistake in our opinion. In the life of a business, there are only two options … you can either keep up or surpass your competitors through a business growth strategy or lose market share.
Business growth obviously can be planned in various degrees. If your business is at the size you desire, a minimum or status quo strategy may be the best for you.
In any case, you need to execute some form of a growth strategy to at least maintain the status quo.
We believe that developing and growing your staff should be at the heart of any plan to grow business. If you want to grow business by developing your people, consider these 7 tactics:
Effective teamwork
Your team is your business, quite literally. It is only as good as the weakest link and your ability to provide strong and effective leadership.
You, as a business leader, must be a talent hound for future hiring, be a strong mentor and coach, and continually work to build your leadership skills and a staff that works effectively as a team.
You will need to delegate effectively and continuously rotate your people throughout business roles. Being successful with these tasks and you will be amazed at how quickly your team will develop.
Employee retention … leadership skills
What would you say are the most significant leadership competencies?
Are they ones that you continue to hone and develop? Do they hold the keys to future successes in your business?
Related post: Beware: Characteristics Which Destroy Effective Teamwork
I have been in the military and business world for forty years and often get asked what I believe are the most important leadership competencies.
It takes time and practice to be a top line leader. You are not borne with leadership competencies.
And you are never done developing them.
My experience leads me to this list of 10 business leadership competencies that most successful leaders all share. They rank as the most significant to success as a leader in my perspective.
If you want to be a better leader, work on continuously developing this list of leadership competencies:
Lead with questions, not directions
Continuous learning
Maintain a work-life balance
Boost team self-esteem
No fear of failure
Collaboration
Balanced listening
Foster team players
Inspire and motivate
Have patience
Employee retention ideas … organization culture
Organization culture is a very integral part of any business as the best companies pride themselves on their employees, community stewardship, and a stimulating workplace.
This culture is passed on to customers, who are more likely to go out of their way to stop at such businesses instead of a competitor because of the values they share with the company.
You even see the culture in most of their creative marketing.
It’s also important to recognize that culture comes from the people—it is the people. Think about the individuals within your organization—what are their personalities like? Who are they outside of work? What tickles their fancy?
All of these things lend to the culture of your organization, and ultimately your products.
Culture matters … a lot more than you may believe. You can either spend time finding employees who share your organization’s values or deal with managing conflicts that arise due to opposing values.
Ignore culture in the hiring process and all other hiring initiatives will be diminished, if not lost altogether.
Grow your staff … hiring is the key
We believe that one of the most difficult, yet most important elements of any business is the hiring process. The message is simple … some people are better than other people.
More importantly, some people are a heck of a lot better than other people.
During the hiring process, you really must take into consideration many candidate behaviors, attitudes and strengths. Even the person who is the most talented, sometimes they don’t have the right personality and team chemistry to add to your team.
Remember this: hire for attitude and culture mix and train for the skills you want.
Employee retention strategies … effective employee engagement
Are your employees giving your company their all? Do they believe that what they’re doing is important? Do they feel appreciated? Do they show up for work each day filled with passion and purpose?
If so, you should share employee engagement lessons with this community.
A red flag should go up if you answered “no” to any of these questions. Why?
Business owners who aren’t taking care of their employees are missing out on significant cost-savings and profits.
Here are some surprising statistics we found recently. Only 31% of employees are actively engaged in their jobs.
Wow. That fact means that 70% are not that actively engaged. And this is amazing to us.
Highly engaged employees work with passion and feel a profound connection to their company.
People that are actively engaged in helping move the organization forward.
88% of highly engaged employees believe they can positively impact the quality of their organization’s products, compared with only 38% of the disengaged.
72% of highly engaged employees believe they can positively affect customer service, versus 27% of the disengaged.
When thinking about these stats, pay attention to the impacts on business performance. They are truly significant,
Talent search mode
You should always be in a talent search mode, even if you are not yet ready to hire.
Never let your organization be put behind the talent 8-ball, as great talent is rarely available on a moment’s notice.
Some of the best hires we’ve made over the years were people that we spent months, and in some cases, years developing relationships with.
Change agent
I am a big believer in adaptation and change.
You should always seek to be flexible and keep several alternative paths in front of you. Always be on the lookout for ways to reinvent ways for self-improvement.
Our most favored quote on change and adaptation is from Charles Darwin:
It is not the strongest of the species that survives, nor the most intelligent, but the one most responsive to change.
Just remember to substitute success for survival and you will have a very valuable tip.
The bottom line