The reason why business owners should think about how to keep employees even before they need to hire one says Edmonton bookkeeping is because this is one of the biggest obstacles business owners will face. In fact, industry Canada says that there is a high failure rate for entrepreneurs in Canada. 15% will fail within their first year, 30% will fail by year 2, and 50% will have failed by their 5th year in business. The 3 most common reasons why entrepreneurs fail, is because number one, they are unable to find a market for their product. The 2nd reason, is because they run out of money, and the 3rd most common reason that entrepreneurs fail is because they are unable to find and keep the right staff. This is the reason why business owners should come up with a plan even before they open the doors to their business.
In order to help a business owner create a plan around how to keep the right people, Edmonton bookkeeping says that they need to understand why employees typically leave their employer, and what a business owner can do to avoid that in their business. However, Edmonton bookkeeping says business owners need to also realize that the average employee is only staying with their current employers for 2.3 years. Therefore, business owners should only expect to get that longevity out of staff. If they get longer, then it is great.
However, business owners need to understand that no matter how long they keep their staff, they need to build the foundation correctly, and help ensure that they staff are happy so that they will stay as long as they can. Therefore, Edmonton bookkeeping says the first thing that business owners need to do, is build a foundation of respect. Even before they hire their first employee, it is important that business owners are creating this environment. Which means they have to work hard, whether it is working early, late, 6 days a week, the harder that they work, the more respect that their staff will give them. Especially, when a business owner asks them to do tasks in the business.
Business owners need to understand that when they start with mutual respect, they are going to have a better time with their staff. The next thing that they need to do says Edmonton bookkeeping, is that they should be indicating and modelling the values of the business early on. Ideally, Edmonton bookkeeping says the first time in the future employee years company values is at the job interview. Not only that, but when a business owner is able to model those values, consistently, Edmonton bookkeeping says that entrepreneurs will be able to continue to foster that respect.
Edmonton bookkeeping says that starting off by developing a deep respect between employer and employee means that business owners will have a better chance at helping employees feel welcomed, important and needed at their work.
Edmonton Bookkeeping | What Helps Employees Feel Motivated To Work Hard
Business owners understand how important people are in their business says Edmonton bookkeeping. Note people, there is no way that business owners will be able to scale up their business, grow and succeed. In fact, Jim Collins, who is the author of 6 business books including the best-selling book good to great wrote this in one of his books: those who build great companies understand that the ultimate throttle on growth for any company is not markets or technology, or competition or products. It is the one thing above others, the ability to get and keep the right people.
However, if business owners do not understand what motivates employees to work hard, they may find that their staff turnover is harder than they realize. The first thing that business owners should do in order to help motivates their staff says Edmonton bookkeeping, is to give them a compelling mission. It is not just important that employees know what they are expected to do and how they are expected to do it, but why they are expect to do it as well says Edmonton bookkeeping. Giving people a reason can inspire them to work hard accomplishing that goal. It can also help them feel unified with their coworkers as well as unified with their employer. Giving everybody a common goal to work towards can help inspire productivity in the workplace.
The 2nd thing that business owners need to do, is to help show their staff that what they do actually makes a difference. Success can be a huge motivating factor for almost all employees. And when they succeed, Edmonton bookkeeping says they enjoy their work more. Therefore, they know that they have a task to accomplish when they get to work, they know why they are accomplishing it, and they know beyond a reasonable doubt that when they show up to work, they are helping achieve that goal. Therefore, Edmonton bookkeeping says entrepreneurs need to communicate often with their staff on how they are making a difference in the business. This does not need to be earth shattering, but it does need to show them that an entrepreneur sees that what they do is invaluable.
The next thing that a business owner should do, is provide growth opportunities for their staff. Employees are highly motivated when they are given an opportunity to prove themselves and to grow. Many employees want the chance to continually growing their role, and by giving them opportunities to do that, can help them learn how to improve themselves. A great benefit of that schism to bookkeeping, is by helping their staff be better, they are ensuring that their company can be better to. The success of a business is dependent on the skill of their people, therefore helping their people increase their skill will only mean better things for the business. Therefore, even if a business owner does not keep their staff forever, they had the best versions of those staff for as long as possible and their business benefited from that.
Therefore it is very important that entrepreneurs know what they should do in order to keep the staff that they have for as long as possible. However, business owners need to understand that their goal will never be to keep staff forever. No matter how good the relationship is, or how happy and employee is in their job, there is going to be turnover in a business. Even if an entrepreneur and employee are great together, the reasons why an employee might leave could include illness or injury, having a spouse take a transfer out of town, or having them retire. Regardless of the reason, business owners need to work at continually find great people, and then keep them says Edmonton bookkeeping.
The first thing that business owners need to do says Edmonton bookkeeping is create an environment of respect. By doing that, they increase the chances of employees respecting their boss, and then avoid quitting because they do not like their employer. Therefore, business owners should model the behaviour that they want to see in their staff. By modelling it first, makes it much easier for staff to follow suit, or step up to the plate when they are requested to.
In addition to modelling hard work, business owners should also create a list of their company values. Edmonton bookkeeping says ideally, these values should be polarizing, so that it can encourage the people that share those values to be more drawn to the business. And when they do not share those values, they might not even apply for the job at all. Therefore, business owners should ensure that values are clearly communicated as well as modelled. Edmonton bookkeeping says that when they do that, there creating an environment that inspires cooperation and respect. That even if an entrepreneur but ahead’s with their staff, which is normal from time to time in a growing business. The staff are going to be less likely to leave, because they believe so heavily in the values, and respect the business owner so deeply.
By knowing how to build a business on the foundation of respect, Edmonton bookkeeping says that entrepreneurs can ensure that they are creating an environment that will allow them to keep employees for as long as possible. This is extremely important for business owners to do, so that they can inspire a great environment, that will allow them to keep great people.
Edmonton Bookkeeping | Can Entrepreneurs Inspire Staff To Stay
It is very important that entrepreneurs do what they can to attract and keep staff says Edmonton bookkeeping. The reason why, is because 23% of failed businesses say the reason why they failed was because they could not find or keep great staff. However, what can help them find and keep great people, is understand why they stay in their job, and then re-creating that in their own business.
The thing that business owners need to keep in mind, is that when they motivate their staff, and they are happy doing the job that they are doing, that can inspire them to stay. The first thing that they can do, is by giving them a compelling mission to give them a reason why they want to do the job. Edmonton bookkeeping says it is not just important that business owners understand what they have to do in their job, and how to do their job well. But is also important that they have a reason behind why they are doing it. If they have a great reason why, not only can they use that to motivate themselves, but they can motivate their coworkers, and it can help the business owner and employee feel like they are on the same plate, because they are accomplishing the same goal.
The next way that a business owner can encourage and inspire their employees to stay, is when they are able to show employee that what they are doing in the organization is actually accomplishing a goal. This means that it is important that entrepreneurs are communicating with their staff both in a group setting, as well as one-on-one. When people feel like they are able to make a difference in the organization through the job that they do, that can be very motivational. When people succeed, and do a great job, they enjoy doing their work more, and do a better job of it says Edmonton bookkeeping.
And finally, Edmonton bookkeeping says that people have the biggest motivation when they are able to learn, and develop their skills. Therefore, business owners can inspire great motivation in their staff when they give them opportunities to learn and grow. Edmonton bookkeeping says that this might mean that some employees can learn to grow into a leader, or they can even take the business in a new and unexpected growth direction.
Ultimately, business owners should understand that their business will benefits when they can help their employees be the best that they can be. The more talent and knowledge that their staff have, is going to ultimately be better for the business. So even if it does not inspire their staff to stay any longer, they will have reaped the benefits of a knowledgeable staff. And ultimately, if they do this, chances are very high that the be able to keep their staff for longer, because they will have no reason to search elsewhere