Every business wants growing revenue, loyal customers, and happy employees and needs to know the secret sauce of “how”. It all boils down to the life blood of the company.. employees. In the world of business value, employees translate into human capital. “Well-liked” companies have substantial processes in place to promote culture, morale, and employee growth. The results of these programs reflect higher revenue, strong customer satisfaction, low turnover, and happy employees. The “art of personnel” comes in creation and execution of human capital initiatives. Savvy investors evaluate employees as part of due diligence practices to understand their value and impact on future business. Unhappy employees and poor planning can be the death-knell for any business.

Small business is small!

“What about companies who have 3 or 4 employees?” Small business is too small for all the process and best practices normally associated with larger business. Wrong! Every business should document and work from a policy and procedure perspective. People want order and to understand their roles and responsibilities regardless of company size. To grow effectively companies need to enhance the practices that work and eliminate bad habits. Take for instance, a pizza restaurant that is profitable and looking at opportunity to  expand. If the owner has documented policies and process for each position; employees can understand and execute against their job descriptions without confusion. If policy manuals exist describing the method of production, operations, sales, marketing, and finance; then the company can duplicate itself. When customer satisfaction is linked to experience and revenue goals, the business can forecast the future. All these components make up an attractive opportunity for investors or financial institutions to fund potential growth.

Building the perfect team

It has been said that the strength of any chain is measured by its weakest link. Building quality into your employees is no different. Business owners and managers need to seek out employees who enhance the company as a whole and improve relationships with customers, vendors, and fellow workers – naturally. Bad employees create a weakness in the chain and can cause far greater damage when business pressures are applied to the organization. The question is, “how to do it effectively?” Try the following check list to help focus company resources effectively:

• Evaluate market conditions to support potential benefit for added employee(s)
• Conduct a market assessment for available talent and associated acquisition expense
• Build a forecast for potential positions in relation to growth
• Define job descriptions
• Document reporting structure
• Define roles and responsibilities with a communication plan
• Develop and document process(es) for interviewing, hiring, on-boarding, termination, and performance improvement
• Create and manage feedback mechanisms to ensure positive culture and morale

Please respond with results when you implement this list or contact us to help get things started.