Register

Category: Business Assessment

A Pandemic, Employee Turnover, Supply Shortages, and Increasing Costs – Where is the Hope for Business Owners?

In June 2021, The Predictive Index surveyed 1,906 employees from more than 15 different industries. The goal was to understand what exactly is contributing to the “Great Resignation,” and see whether managers impact employees’ decision to stay or leave. Not surprisingly, the “Great Resignation” originated in the service industry as numbers of employees were dealing with Covid-19 issues such as face-to-face interactions, health and safety concerns and closings. But even as other industries along with the service industry began to return to on-site operations they all started encountering retention issues. The research conducted by The Predictive Index discovered it is less to do with safety concerns as it does with management issues and employee engagement.

The study found that nearly one in two respondents have considered a career change in the past year. When asked why, the surprising answer was not that they feel unsafe returning to the on-site place of employment but more that it had to do with their managers. Of those respondents who said they had bad managers, 63% considered quitting in the next year and 70% also responded that their coworkers are considering leaving as well.

No one can deny that the past two years have been tough for anyone in management. A lot of decisions and actions regarding operations of any type of business has been challenging. Trying to keep safety protocols in place, constant staffing shortages due to Covid sickness and employee turnover is enough to drive any manager crazy. Even the best of managers have difficulty when it comes to keeping employees engaged, motivated and highly productive in the best environment but add the challenges of a pandemic, supply shortages, increasing costs and employee turnover to the mix and you have what could be felt as a hopeless situation.

When it comes to employee retention, there is hope. Some relatively simple actions on a business owners’ part can make all the difference in turning things around. Here are the following key ideas to consider:

  1. Consider having an assessment of the current hiring process. Does it include recruiting in the right venues for the type of employees needed? Does the position have a job description and has the key criteria for a good fit been thought out? Are behavioral interview questions used as well as functional questions? Are personality or behavioral assessments used? A well defined and organized hiring process is key to hiring the best employees.
  2. Create an effective onboarding program that ensures the new employee meets their team, understands the mission, values and policies of the business. A positive onboarding experience will build confidence, trust and positive impact with a new employee.
  3. Consider investing in training workshops for employees that show exceptional leadership qualities and potential. Topics such as Effective Communication, Coaching Excellent Customer Service, Emotional Intelligence, Trust, Conflict Management, Effective Supervisory Skills, and Time Management are all good solid foundations for an emerging leader to have.
  4. Finally, team building can increase employee engagement on the job. Employees that feel isolated or believe that no one has their back are much more likely to leave. An employee is highly likely to stay with a company where they feel that they have coworkers that they trust and work well together.

Businesses that invest in their employees development have a much higher chance of recruiting, hiring and retaining employees that stay for the long term and become a high performing team. This of course, in turn, results in a highly productive and profitable business for years to come.

3 Reasons Why You Need to Hire a Business Coach for the Year 2022

No one will deny that the last two years have been tumultuous in the business world. Challenges with the pandemic, chip shortages, supply and demand, cost of material and the lack of workers has caused many businesses to lose profits if not balance on the brink of closing. Many CEOs are scratching their heads and wondering how to pull out of the chaos that these past two years has caused. If you are one of these business leaders, you may want to consider hiring a business coach for this coming year. A professional business coach may be the best investment of your time and money and more specifically a coach that specializes in high performance coaching. A high performance coach will work with you and your company in these three ways:

1. Assessment and Strategy

A business can be found in one of three stages. It is either in Chaos, Stability or High Performance. The high performance business coach will walk you through a series of activities that will assess what stage you are in and work to develop the strategies needed to move forward towards high performance. Organizations in chaos have inconsistent results, they are focused on the short-term, working in crisis mode, have shifting priorities and lack of teamwork. The company that is stable will show consistent performance results, have basic process, structure and systems in place, clarity of goals and direction and consistent priorities. A high performance business shows excellent performance results, growth of new business opportunities, excellent process, structures and systems aligned with strategy, their people are highly empowered and involved and there is great communication among teams.

2. Personal and Business Goal Setting

Leading a business can be very time consuming and stressful. It can have both personal and professional repercussions that are not positive. Your life partner, peers, employees and friends may not always understand what you are dealing with and may even contribute to some of the stress you are under. There may be a lot of noise in your head that needs sorted out and having the ability to discuss with a coach can be beneficial. Having a confidential quiet time weekly to focus on setting priorities and determining realistic goals can be life changing.

3. Accountability

A business coach has the ability to be objective and offer insight into what are your strengths and weaknesses as well as hold you accountable to the steps needed to accomplish established goals. You also have a safe environment to share your emotions and set a clear mind for remaining focused on the path ahead. A business coach may include assignments and activities that will keep you engaged as well as accountable to doing what is necessary to make changes that will benefit yourself and the company.

Make 2022 the year that your business and your personal life get on track for a successful, enjoyable and profitable year. Make the investment that will pay for many years going forward and hire a professional business coach.

Assessing Your Organization for High Performance

All organizations are perfectly designed to get the results they get.

How clear is the direction of your company right now? How well do you understand the critical opportunities and steps needed to take your company to the next level? How well does your team understand the strengths and weaknesses of the business? How effective are changes in only one part of your organization without understanding or considering changes to the whole?

The assessment of an organization’s health and the diagnosis of problems must precede any development or change of plans to improve the health of that organization. If you want to improve your business, you must first find out what it working and what is not working. This allows you to make intelligent and conscious decisions about how to improve it.

When starting a business most people do not aspire to achieve mediocrity. One would hope to start a business and be the best at something, right? A bakery store may want to be know for the best donuts in town, an insurance company would want the reputation of being able to offer the best policies to their clients and save the most money, a car dealership hopes to be the one place that everyone buys and services their vehicles and so on. Most people do not go through the trouble of running a business for the sole purpose of breaking even, agreed?

Businesses are living systems, dependent upon its external environment for survival. As a living system, an organization is “open” to influences and transactions with it environment. The Transformation Model seen here provides a framework for viewing an organization as a living system. Using this model, leaders can see how the pieces of the organization fit together and then make conscious decisions about how to improve their effectiveness. The model reduces organization complexity to seven key elements: Results, Environment, Strategy, Core Process, Structure, Systems and Culture. These seven elements are viewed as a whole system of interrelated parts which must fit together and be closely coordinated if the organization is to be successful. High Performance can be built into every aspect of the business by using the model to guide a comprehensive and integrated approach to change.

The seven elements of this model form the “big picture” of the organization. The first step is to analyze and understand each of the elements in order to know what is working or not working in the organization and how the elements are affecting each other. The next step is to adjust or redesign the elements so they are better aligned to the strategy and to each other. Using this Transformation Model to analyze and realign the organization will improve key results and lead to increased effectiveness. For more information on how you can use Modlin Business Solutions to walk you through this process, fill out the contact form and someone will contact you. You can become a High Performance business with increased productivity and profitability starting today.