The number one challenge that I’ve seen with entrepreneurs as they grapple to scale up their enterprise is people. In my last blog, we saw how important a second line of management is but still overall people struggle on that particular front. So how do you have happy and engaged employees?
In this blog , I share 3 Specific challenges that entrepreneurs struggle with.
- Hiring the right people
- Building a formidable team that’s able to independently grow
- Retaining the particular talent
In my last series of blog, I share some very specific ways in which we can do that. The number one way in which you can address a majority of these people-related issues is making sure that you have an employee-engagement system in place.
According to a recent EY report, If you are able to invest in a total-rewards mechanism, then you will find that you have a 15% higher employee productivity than companies that don’t.
There are 3 specific ways in which we can have happy and engaged employees:
- Right People in the Right Place:
Make sure that you have the right people in place. Develop a hiring process in which we are able to get across the long term vision of your company and get your people excited about it.
Seek to understand what are the aspirations of your people and make sure that these are aligned with you. Show how by meeting the company’s goals, the company’s visions, they are able to also positively impact their aspirations.
The best advice that I’ve got as far as people go is this: Hire slowly, fire quickly. Make sure that you have a very specific way in hiring people and invest in that particular process. It may take some time and effort to do that but don’t cut corners there because it’s really important.
Imagine if you were hiring a partner, just not an employee and if tomorrow this person is going to be a partner in your business. What are the kind of interview would you want to conduct? What kind of things that you would want to ask?
I am also providing a link here on the three specific things that I look for when I’m hiring people.
2. Up-skill Your Team: Make sure that you are investing in upskilling your team. You’ve to define the Key Results Areas for each particular role. Have an assessment to identify the skills gap between a person’s current ability and what the job will demand. This will figure out what training you require for your team to help bridge the gap.
Help your employees become more successful in their job. If you are able to do that, then you are able to get happier and more productive employees.
3. Retaining the Talent: To retain top talent you need to have a total rewards system. It’s not just making sure that you have a good salary package in place but there are many other things that come into play here. For example do you have a recognition system in place? This is an important way in which you are able to retain and engage talent.
Do you have a process of performance review and feedback? This will help you and team to know how well they are doing. You need to have a process of continuous feedback.
These are 3 simple ways in which you can have happy and engaged employees.
Leave a comment below about how you keep your employees happy and engaged?