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I Advice - Attracting (and Keeping) Top Performers
A large part of business is the sale and the art of making one. There are those who work in a posh department store, hoping to sell a cashmere sweater to squandering customers. There are those who work at car dealerships, hoping to watch their customers drive off in a fully loaded brand new SUV. And then there are those who travel, going from city to city selling everything from insurance plans to computer software. Those of you who fall into this category may have it the hardest; for you, there is no home field advantage. It is because of this that the art of maki
Corporate culture is one area smaller companies have an edge - that "hell-bent-for-leather" attitude makes it exciting and challenging to come to work, and there are fewer layers of bureaucracy people find so stifling. Real teamwork, where success is shared and the team affirms a common commitment, will draw other top professionals.
Having a smart, talented staff will captivate more sma
Regardless how small or large your budget is, there are a number of ways you can make it go farther. One way is to capitalize on the seasonality of your business.For example, it may not make sense or be necessary to market consistently all year long. Are their times when your particular industry is slow and customers are not likely to purchase? Conversely, are their times during the year when customers are more likely to be in the market for your product or service?Schedule your marketing activities to take advantage of these peak times and to avoid what I call
According to chief executives and industry recruiters who were interviewed for this article, there are three main areas on which to focus: the quality and market position of your product or service, environment, and compensation.
Leading edge technology and a high perception of quality will lure top technical and design people, salespeople and support people, all for different reasons. Technology people relish the challenge of developing something new, plus they need ongoing opportunities for skill enhancement to remain fresh.
As for top sales people, a strong product means they can earn bigger commissions, and their egos are fulfilled by being on the leading edge. And top support people are smart enough to know that a quality product makes everyone's job easier, and it enables them to earn their incentives. For everyone, superior products will earn your company better returns, enabling more reinvestment in R&D, providing challenges and adventure for your technical people, and more and better product for your sales and marketing team.
What if your product is not cutting-edge, or your quality not up to snuff? Appealing to top performers is not going to be your only problem. Unless you control a mature market niche, your company will need to update and upgrade to remain viable - this requires high caliber people. If you want to survive in the marketplace you must concentrate harder on the next two factors.
Environmental factors - the corporate culture, the caliber of co-workers, the attitude of your management team, and your physical environment can be pivotal in finding and retaining talented people.
Corporate culture is one area smaller companies have an edge - that "hell-bent-for-leather" attitude makes it exciting and challenging to come to work, and there are fewer layers of bureaucracy people find so stifling. Real teamwork, where success is shared and the team affirms a common commitment, will draw other top professionals.
Having a smart, talented staff will captivate more sma
In this article I will discuss the human resource strategy of McDonald’s. The company is the leader in the fast food industry and it proves that the strategy the company chosen is right and efficient. All the details about employment in McDonald’s will be reviewed in this article. McDonald's began in the USA in the USA in 1995 with one restaurant. McDonald's is now the largest and fastest growing Quick Service restaurant in the world. From New York to Newcastle the Golden Arches have become a universal symbol for McDonald's.McDonalds opened its first store in the UK
According to chief executives and industry recruiters who were interviewed for this article, there are three main areas on which to focus: the quality and market position of your product or service, environment, and compensation.
Leading edge technology and a high perception of quality will lure top technical and design people, salespeople and support people, all for different reasons. Technology people relish the challenge of developing something new, plus they need ongoing opportunities for skill enhancement to remain fresh.
As for top sales people, a strong product means they can earn bigger commissions, and their egos are fulfilled by being on the leading edge. And top support people are smart enough to know that a quality product makes everyone's job easier, and it enables them to earn their incentives. For everyone, superior products will earn your company better returns, enabling more reinvestment in R&D, providing challenges and adventure for your technical people, and more and better product for your sales and marketing team.
What if your product is not cutting-edge, or your quality not up to snuff? Appealing to top performers is not going to be your only problem. Unless you control a mature market niche, your company will need to update and upgrade to remain viable - this requires high caliber people. If you want to survive in the marketplace you must concentrate harder on the next two factors.
Environmental factors - the corporate culture, the caliber of co-workers, the attitude of your management team, and your physical environment can be pivotal in finding and retaining talented people.
Corporate culture is one area smaller companies have an edge - that "hell-bent-for-leather" attitude makes it exciting and challenging to come to work, and there are fewer layers of bureaucracy people find so stifling. Real teamwork, where success is shared and the team affirms a common commitment, will draw other top professionals.
Having a smart, talented staff will captivate more sma
To begin with, we need to get something straight. Word-of-mouth advertising is a misnomer. The dictionary definition of “advertising,” according to Webster is:“The action of drawing something to the public’s attention with a paid announcement, often through a printed notice or a broadcast.”Therefore, WOM is NOT advertising. It is neither bought nor controllable, to any large extent. Spreading WOM advertising is more akin to allowing the wind to control a kite. Sometimes it goes up and often times eventually, comes down. When a cons
As for top sales people, a strong product means they can earn bigger commissions, and their egos are fulfilled by being on the leading edge. And top support people are smart enough to know that a quality product makes everyone's job easier, and it enables them to earn their incentives. For everyone, superior products will earn your company better returns, enabling more reinvestment in R&D, providing challenges and adventure for your technical people, and more and better product for your sales and marketing team.
What if your product is not cutting-edge, or your quality not up to snuff? Appealing to top performers is not going to be your only problem. Unless you control a mature market niche, your company will need to update and upgrade to remain viable - this requires high caliber people. If you want to survive in the marketplace you must concentrate harder on the next two factors.
Environmental factors - the corporate culture, the caliber of co-workers, the attitude of your management team, and your physical environment can be pivotal in finding and retaining talented people.
Corporate culture is one area smaller companies have an edge - that "hell-bent-for-leather" attitude makes it exciting and challenging to come to work, and there are fewer layers of bureaucracy people find so stifling. Real teamwork, where success is shared and the team affirms a common commitment, will draw other top professionals.
Having a smart, talented staff will captivate more sma
The Hotel Industry has surely seen a roller coaster ride with Hurricane Katrina. Many Hotels along the Gulf Coast were totally destroyed, many were damaged and others in the aftermath remain totally full. So full in fact that finding a hotel with vacancy within 300 miles is nearly impossible. This is a windfall for the Patel Family; the Indians who are quite industrious and often associated with being sole proprietor hotel owners, it is a family tradition. Most Franchised Hotel Chains and Corporate Hotel Chains are also watching the occupancy rates at 100% meaning we will see
What if your product is not cutting-edge, or your quality not up to snuff? Appealing to top performers is not going to be your only problem. Unless you control a mature market niche, your company will need to update and upgrade to remain viable - this requires high caliber people. If you want to survive in the marketplace you must concentrate harder on the next two factors.
Environmental factors - the corporate culture, the caliber of co-workers, the attitude of your management team, and your physical environment can be pivotal in finding and retaining talented people.
Corporate culture is one area smaller companies have an edge - that "hell-bent-for-leather" attitude makes it exciting and challenging to come to work, and there are fewer layers of bureaucracy people find so stifling. Real teamwork, where success is shared and the team affirms a common commitment, will draw other top professionals.
Having a smart, talented staff will captivate more sma
It’s all about relationships!Here is how a popular TV show looks at it:In a city filled with more than its fair share of players, predators, losers, and creeps, these people need all the help they can get in order to find the one thing that eludes them all - a real, satisfying and lasting relationship. Is such a thing possible in New York City?Here’s how your customers may be seeing things:In a vocation filled with more than its fair share of players, predators, losers, and creeps, these customers need all the help they can get in order to find the
Corporate culture is one area smaller companies have an edge - that "hell-bent-for-leather" attitude makes it exciting and challenging to come to work, and there are fewer layers of bureaucracy people find so stifling. Real teamwork, where success is shared and the team affirms a common commitment, will draw other top professionals.
Having a smart, talented staff will captivate more smart, talented people. So will a collegial atmosphere which values the opinions of the rank-and-file along with open-management policies keeping the troops informed on the state-of-the-company.
A training plan, designed career paths and professional conference attendance are more ways to attract and keep people. Other small but significant options include dress code, flextime, telecommuting, offices with walls - these all help.
Last is the issue of compensation. The big salary problem is no matter how much you pay, a competitor can pay a little bit more. So in terms of salary level itself, you simply have to be at or near your market rate.
Pay-for-performance however, can take compensation much higher while avoiding salary inflation. A system of carefully designed bonuses and incentives will enable you to pay people for exceptional production.
Equity - stock grants, options and equity-like phantom stock - is a powerful way for smaller companies to entice people at all levels. Plus, smaller companies can grant equity without the usual waiting period required by public and larger companies. (Just remember to include a forfeiture clause in case of early termination.)
What does all this mean in real terms? Some of the ideas in this article are harder to implement than others, and some describe conditions you simply can't achieve. Must you arrange for every item mentioned above? Of course not, but systematically providing your people with the challenge to be their best, the opportunity to learn, the freedom to be creative, the incentives to perform and produce, a feeling of ownership, and the respect as professionals - these are the things that will make top technical and sales people want to join your company, and have them stay.
To get a copy of our "Keeping Top Performers" checklist go to www.paullemberg.com/toolsandtips.html
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