There is nothing more important to your bottom line than attracting and keeping great people.
It can mean your business is more profitable – by as much as 30% to 40%. How? People are the greatest asset of any business, and great people create competitive advantage.
Satisfied employees stay with you and ensure that your customers stay satisfied. Do you know how your staff really feels?
“Hiring, retaining and developing great people is the biggest challenge and single greatest key to the success of any business.” This quote from Scott McNealy of Sun Microsystems applies to insurance agencies as well as technology firms. And it’s true whether the market is hard or soft – whether the economy is booming or in a slump. Even when – especially when – you’re facing tough times and, perhaps, are considering reductions in staff, your highest priority is to make sure you have the brightest and the best people working with you to retain the clients you have and bring in new ones.
How to create the environment necessary to attract and retain the best employees:
Training and Development. Recognize that training goes beyond the minimal requirements for continuing education credits. Provide employees with intellectual challenges and opportunities to grow.
Bench Strength. Encourage people to prepare for their next job. When vacancies occur, make sure the best people are waiting to fill them. When your employees grow, your business grows.
Connected Work Environment. Encourage employees to have fun and take pride in the contribution they make to the organization and to the community. Support employees’ need to balance their personal and their business lives.
Tools to Do the Job. Provide employees with the tools they need to do their jobs effectively. Ensure technology drives processes, and workflow really works. Understand that even the best people cannot overcome inadequate systems and procedures that perpetuate duplication and errors.
Appropriate Rewards. Pay employees fairly and competitively. Make sure compensation is tied to performance and attainment of results. Celebrate success, recognizing that rewards come in many forms. Employees respond based on their own personal values and priorities. Here’s an interesting and timely article on employee rewards that don’t involve $$$.
Ongoing Recruitment. Bringing new, qualified and top quality people into the organization should be an ongoing activity that is given top priority. Encourage everyone in the agency participates.
Great employees look for great places to work. And they make great places to work even better. Is your agency a great place to work? Make an investment in being an employer of choice. It will pay big dividends.
Being an employer of choice is one of the seven key strategies that ensure your business will thrive in bad times and in good. Make 2010 your best year ever. See how to ensure that your Business Is Great?
And if you need help implementing the 7 BIG Strategies, Transformation Advisors is here to help.
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