All companies go through turnover in the staff. Some employees are very knowledgeable about their job and bring a lot to the table. You will have to account for what the business will suffer in the event of losing them.
Dealing With the Lost Expertise or Knowledge When Employees Leave
Do you have a process in place to capture intellectual capital? Your staff has knowledge that is important to the company.
One thing to consider is setting up processes with the staff ahead of time. Encourage them to collaborate and offer rewards on account of this. Also, you should have a reward system in place for staff that gains new information.
Chaotic Periods Destabilize the Company
When a business goes through transitions, it can cause an uproar in the company.
There are things that need to be considered when putting together a good program. First, you need to know what each employee needs to learn and why. If you know what they need to learn, it will make it easier to get the programs in place.
Also, when preparing programs, you need to make certain they address both skill training as well as training on critical aspects of the company. Spending the time to train new employees will make it harder on the remaining staff.
Here are some things to consider to keep these periods from having so much of an effect on the business:
- Does the CEO have a clear vision in place for the team to understand?
- Do team members understand their place in the overall vision?
- Does the leadership team have clear communication plans put together?
- Does the company have a profit plan?
- Is the value proposition of the business clear?
Giving everyone a clear understanding of their role in the company will go a long way in helping get through a transition.
The Organization Needs to Understand How the Company Will Grow In The Future
Every company would benefit from ensuring there is a growth plan in place for the future. All employees should understand where they fit into the plan.
Your business would benefit from putting out a survey that captures the way each staff member feels about the organization. This will give you a good idea of office morale.
It goes a long way if the CEO involves employees in what the company is challenged with. That makes the staff feel like they have a role in reaching the goals. Also, a CEO should be regularly communicating with the staff the goals for the business.
The Organization Needs to Understand the Impact That Staff Satisfaction Has on the Company’s Profitability
It should be no surprise that low morale leads to less profits in the business. Employees that do not feel satisfied with their jobs will perform at a lower level than those that do feel satisfied in their job. Employers may want to take on this advice given over on the JetPack Workflow website on how businesses can keep their accountants happy, even during the height of the busy audit season. Such advice can have a positive effect on the satisfaction of employees if taken on board.
Here are some things to evaluate:
- Has the company shared with employees how they are part of increasing profits in the business?
- Does the CEO understand how emotional intelligence plays into employee satisfaction?
- Can employees impact customer satisfaction? If so, what power will you give them to meet customer needs?
A business needs to understand how their staff is a vital asset in the growth of the company.
When staff has the resources and training they need to be successful in the job, the business can grow.
~ Written for us by our associate Gary Sorrell, Sorrell Associates, LLC. Copyright protected. All rights reserved.