Today’s episode talks about people. People can be the single greatest asset, or single greatest threat to your business. Where do your team members belong?

YOUR TEAM

You invest a great deal of time, energy and resources in actually getting your staff so it makes sense,to do everything in your power to keep them. This isn’t about keeping your staff happy. It’s about flexibility, recognition, training, money, career development, etc. Different incentives work for different team members, and it’s impossible to get right every time for every individual.

RETAINING YOUR TEAM ASSETS

According to research recently done about the company called Research recruitment Solutions, 47% employee turnover over occurs on the first 90 days of employment, with 60% of the respondents highlighting induction improvements as a priority area for investment .

Now, further research by the Aberdeen Group found that companies that were at their best inducting had improved their retention rate by 100%. But it is not just about the induction process and it’s effectiveness. It’s about your entire recruitment process. In other words, do you have a recruitment plan? Have a proper induction, training and recruitment plan to start things off on the right foot.

RESOURCES MENTIONED

CEO on Demand website – www.ceo-ondemand.com.au

More Profit Less Time website – www.moreprofitlesstime.com

THANKS FOR LISTENING!

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Until next time!

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TRANSCRIPT: PODCAST EPISODE 25

Title: Are People an Asset or a Liability in Business?

Date Published: November 16, 2015

Running Time: 03:00 minutes

Hi, this is John Millar I’m the Naked Business Coach, Stripping Business Back to the Bare Basics. And today’s little bite size piece is talking about people. And people  can be single greatest asset, or single greatest threat to your business. Now, let’s face it, If your gonna sure that your stuff will boost and to  not  hinder your companies success., it’s a good thing right? You invest a great tale of time, energy and resources in actually getting your staff. So it makes sense, in —-, in your power to keep them. Now this isn’t stopped about keeping your staff happy. It’s about flexibility, Recognition, training, money, career development, yep, you know. But besides different incentives work for different team members, and it’s impossible to get right every time for every individual.  I really think you should keep working on it. According to research recently done about the company called Research recruitment Solutions, 47% employee turnover over occurs on the first 90 days of employment.  With 60% of the respondents highlighting induction improvements, as a priority area for investment . While other research points to 25%of new starters making the decisions on their first week. That they no longer wanna to work for your business. Again,  a poor induction process is to blame of many people feeling  overwhelmed, bored, and or confused. Now, further research by the Aberdeen Group in 2008, few years ago now, but nonetheless relevant, found that companies that were at their best inducting had improved their retention rate by 100%, they reduce their time to productivity rate by 60%. But it is not just about the induction process and it’s effectiveness, it’s about your entire recruitment process, in other words, do you have a recruitment plan? The World’s best induction program isn’t gonna get very far with that right employee. You see, one thing reminds the same for every new staff member. Induction, Training and a good recruitment plan, to start things off on the right foot.

And this is John Millar I’m the naked business coach, stripping business back to the bare basics. Have a look at our website, www.ceo-ondemand.com .au or www.moreprofitlesstime.com we’ll have some webinars and we also got haves of information, downloads and other content that you can get. And for now I want you to think about are your team members, if you’ve got them an asset or liability. If you want a team member which would you prefer?

 

John Millar

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