Whittaker Associates: Giving Information Meaning">Whittaker

by Tammy Hart

As the labor market for top-quality service people continues to increase, managers are making a correlation between loyal satisfied customers and motivated people who deliver the service that keeps them coming back. The key is tapping into exactly what it is that motivates them.

With record low unemployment and a flourishing economy creating many new entry-level jobs, there is a shortage of people available to work at the entry level. This surplus of opportunities creates an environment where many people feel comfortable frequently changing jobs.

Compensation and incentive experts agree incentives can be the most powerful tools executives can use to improve worker performance and loyalty. One of many great incentives is to offer tuition reimbursement, related to an employee’s current job or desired career path. Without a doubt, giving your employees the proper training will make them better qualified to perform their job, but it can also be extremely motivating for the employee as well. Devoting time and money to professional development shows employees that management is willing to invest in their future. It conveys to an employee a sense of worth far beyond their weekly paycheck.

Statistics show that people are less likely to leave organizations where they know managers are concerned about their development. Non monetary factors play an important role in promoting loyalty. Alongside tuition reimbursement, allowing your employees to cross train in different departments within your organization can also be a valuable training technique. Doing this can give the employee a broader view of what the company functions are; which in turn helps them to understand the importance of their own position.

A customer-oriented employee is often the difference that causes consumers to choose one supplier over another. They can’t be the best without proper training. Many employees on the front line, working directly with the customer, have not been properly trained with the basic customer service skills that are imperative for them to perform their job. Some of these skills include training for the specific product they are promoting, company policies and procedures, and basic tools for resolving customer concerns.

Employee turnover also creates indirect costs including lost sales due to customer dissatisfaction, decreased quality due to errors, and reduced morale of co-workers who are responsible for training another new person. Retaining customer service-oriented employees is essential to success in today’s overly competitive marketplace where consumers have many options from which to purchase goods or services.

There are obvious expenditures involved with training employees, but the rewards are far greater than the initial investment. In the end you may have created confident employees who aren’t afraid to ask for pay increases, but you’ll be getting a value for your dollar; just as the customer will be getting a value for theirs and the employee will undoubtedly find value not only in the training they receive, but in the company who invested in them.

Sources:

www.careerbuilder.com

“Managing through incentives” by Richard McKenzie and Dwight Lee

“Customer Rapport-The Glue that builds Success” by Jack Deal www.dealconsulting.com

www.worldatwork.com

“What are non-financial rewards and why should organizations consider using them” by Craig N. Clive

“Shortcuts to Success” by Jonathan Robinson

by Megan Jewell

I recently read What the CEO Wants You to Know , and would recommend it to anyone involved in the business arena, whether looking from the inside out or the outside in. It discusses important things such as cash flow, velocity and how to view a business like an investor.

The book shows how to use the bigger picture to view a business and teaches how a company functions. Like a car engine, a business has many interconnected parts one has to understand in order to fix or improve upon it. Below are some brief notes from the book about mergers and acquisitions applicable to your focus on community and business growth. It gives you ways to recognize the signs of movement by companies already in your area, and insights into how those companies run and what can be done to keep them operating at optimum capacity, therefore benefiting your community as a whole.

Mergers and Acquisitions

Your Personal Results

• How do you get results?
  • Link your own priorities to the big picture
  • Look at “total business view”, this starts by knowing challenges your company faces
    • What were sales during last year?
    • Are sales growing, declining? What about growth picture?
    • How are company profit margins? Growing, declining?
    • How does your margin compare with competitors? Compare with industries?
    • How about the company’s inventory velocity? Asset velocity?
    • The company’s return on assets? Return= profit margin x velocity
    • Is the company’s cash generation increasing or decreasing? Why that pattern?
    • Is the company gaining or losing against competition?
• Don’t forget to look at external realities…things that could affect money-making ability
• CEO-share business priorities with employees; they can then do the work to accomplish them

Charan, Ram. What Your CEO Wants You To Know. Random House, Inc. New York . ©2001.

by Cory Koch

For many years, you have been waiting patiently for your turn to take charge of a group and test your skills. It has happened. You are excited and eager to start and your head is full of creative ideas. You can’t wait to implement, create change, and leave your mark. Before you charge up the hill, there’s something that you really need to handle first.

Relationships

Successful organizations are built on relationships, and having a solid, trusting relationship with your team is a must. Your team will put out efforts for you just by virtue of your position. They will put forth super-human efforts if they respect you and buy into your vision. The ability to inspire is what sets great leaders apart from the rest. Spend time to build these relationships and you will see a huge impact on your effectiveness as a leader.

Get to Know Them

You don’t need to be their best friend, though it’s helpful to know the members of your team on a personal level. If you are wondering how to begin, maybe start with a few questions like these:

•  How long have you been in your position?

•  What are your concerns about your work?

•  What are some of the biggest obstacles you face?

•  How can I help in these areas?

•  How would you like us to work together?

•  Where do you see yourself progressing in this company?

•  How do you feel things are going in this group in general?

If you are new to your industry, and an unknown entity, your team members may be hesitant to bare their souls. Don’t push too hard. Be truly sincere. Show compassion to their true opinions, with the objective of helping them and improving the team. Learn how they contribute to the group and the impact they make. Acknowledge their efforts. Thank them for their honesty. Soon you will build the trust you need to have them openly share what’s on their minds.

When you perform this initial relationship-building right, you will obtain helpful information about the current status of your team, and the challenges that lie ahead. Identify trends and patterns while you analyze your data. From this point on, review your plan for the team and see what needs to be tweaked based on what you have discovered.

Let them Understand You

Be aware that most people do not like change, especially in management. Their last leader could have been Attila the Hun, but at least they knew what to expect. Put them at ease; the best way to do that is to share all information that they want to know but may not be comfortable enough to ask.

You may accomplish this through short staff meetings. There’s safety in groups, and employees may be more willing to ask questions with others present as opposed to one-on-one. Prepare with the intention to have a productive meeting. Even if you only have three items to address, list your agenda, a starting time, and a time the meeting will end. Stick to your agenda and time schedule. This may be their first glimpse at your leadership style, so put forth the effort to make a great impression.

Start by covering the following items about yourself:

•  Brief them on your work history – they want to know you are qualified and credible.

•  Identify your work style – are you hands-off, or do you love all the details? This will help guide how they will interact with you. If you like to hold daily, weekly or monthly staff meetings, tell them that.

•  Share your vision for the team – it may be early in the game, but they need reassurance that their leader knows where they are headed.

•  Stress your expectations – in a group setting, this will be basic. If missing deadlines is an offense punishable by death in your book, let them know now. Do you like people to question your decisions? Do you welcome feedback, or should they wait until you ask?

Make sure you allow time for them to ask questions. Encourage communication and notice the dynamics of the group. Spot troubled areas, and note any strength you want to leverage.

Remember, it’s impossible to lead when others choose not to follow. If you are dragging them behind you it will create lot of unnecessary work for you that will only slow your efforts. First set the foundation so they are willing and eager followers, and leading becomes a breeze.