Studies have estimated the cost of turnover ranges from several thousand dollars for entry-level positions to upwards of 150 percent to 200 percent of the annual salaries for executives. Costs are high because they include not only loss of revenue, productivity and training expenses, but also the time, energy and stress involved with hiring someone […]
Business owners and managers frequently ask me, “How do you teach people to think?” This is a powerful question, one that can lead to significantly better results. My answer: By learning to become a mentor and effective communicator and consistently encouraging your team members to think for themselves. If you want your company to operate […]
Competency and confidence expands, contracts or remains static depending on whether people receive the stimulation they need to develop — or not. The phrase, “I’m in a rut” is born of an individual’s languishing potential. According to GoHR.com, fully 40 percent of employees who receive poor job training leave their positions within the first year. […]
Business leaders focused on moving their companies to ever higher levels of efficiency, effectiveness, profitability and success constantly look for ways to improve their business models. This requires an awareness of what is — and isn’t — working in daily operations. There’s a potential pitfall if leaders fixate on what’s wrong at the expense of […]
I pointed out in my previous column the problems with bringing personal baggage to work. I described how even long-term top performers can stumble and fall when they’re unable to effectively manage personal issues in the workplace. I also elaborated on the domino effect these uncontrolled issues can have on other team members, workplace culture, […]
Some people believe a distinctive barrier separates personal and professional lives. An honest and discerning look at your experiences and those of others reveals that’s not the case, however. It’s common, in fact, for people to carry their personal baggage through the front door of a business, unpack and spread the contents throughout the workplace. […]
Most business owners dream of wealth, freedom and happiness — the opportunity to exert greater control over their destinies. They start their companies to achieve professional, personal and financial independence and often use these to travel, relax, give back and enjoy their lives. For many owners, however, this remains a dream because they lack the […]
With every interaction and transaction, a business gives its customers a good, neutral or bad feeling. The last two have no place in a thriving company. The first is the key to happiness and success. You probably recall some experiences as a consumer that left you with a good, if not a great, feeling. The […]
Companies that make it their business to foster happiness in their customers are the most enlightened and successful of all. These companies understand that successful operations are, first and foremost, about serving people and ensuring their satisfaction. They know that increasing the pleasure, satisfaction and happiness of the patrons who support them with their hard-earned […]
There’s a vast difference between a leader and a boss. A leader influences, collaborates, guides, mentors and supports others to foster movement in a desired direction. Conversely, a boss lords over others, is often controlling and domineering and uses fear and intimidation to get ever more out of the individuals he or she oversees. If […]