Business is about people. Without people, there isn’t any business. Business success starts with hiring the right team of people to work with; to represent your company to customers. CEOs, presidents and business owners need to structure the company culture of the workplace to consistently demonstrate how important and valued good employees are at every level. Yet this can be a challenge for many business leaders. Many times, business people forget what it was like to be an employee; or may never have experienced being an employee. Yet, by not making employees a priority the turnover of workers will be constant. This can lead to desperate hiring situations which is not a favorable circumstance for multiple reasons. That’s why it’s critical to not make business mistakes common to many companies, perhaps even yours. The cost of turnover can be high and impact the profitability and reputation of your company.
Here are 6 CEO mistakes that cause good employees to quit and find employment elsewhere:
1.) Overwork. There is only so much work people can effectively and productively accomplish in a work day or work week. There is only so much work humans can do whether it’s a part-time or a full-time position – or working overtime. It reaches a point where it is unrealistic to expect more from employees. You may attempt to demand more of your employees but if the hours are long, the pay not in line with the hours worked and the environment not pleasant then good employees will eventually quit. Or it may lead to employee burn out. Overworked employees can lead to unnecessary business mistakes. The cost of overworking your employees can be quite high not just in paycheck dollars but also in quality of work which will be lacking thus turning away customers or clients. Analyze the employee workflow charts to maintain the optimal output from employees at all levels of the company. Otherwise, your expectations may be diminished and mistakes increased.
2.) Give credit where credit is due. You may have heard that phrase before: Give credit where credit is due. These are vitally important words when applied to business and working towards success as a team regardless of how large or small your company may be. People like to be acknowledged for a job well done. They want to know and understand that what they’re doing is making a difference. They want to be productive. They want to be involved in a culture of business that absolutely inspires them to do a better job. Coming to work makes them feel good about they’re doing. How many times have you seen employees at other companies look bored, disinterested or not fully engaged? Observe your business associates daily. Pay attention to employee attitude. It only takes a moment to give credit for a job well done. It’s everything to your company’s success. It means the world to good employees.
3.) Care about your employees. Remember: Employees are people. They have wants and needs just like anyone else, including yourself. You can take good care of employees in many ways including pay and other company benefits offered but also through on-going training, recognition, remembering birthdays and work anniversaries or just saying “hello” each day. It’s also about providing inspiration to further motivate individuals. Create a work place environment that’s bright, clean and has the necessary tools to perform jobs properly. Look at each employee as an individual rather than just someone who does a job for you.
4.) Keep your promises. How often have you witnessed business people promising things yet never keep their word? Either they forget, get too busy or preoccupied with other things deemed more important, think no one will remember their words or just say something because it sounds good at the time. This is one of the worst business practices. It creates doubt, disappointment and distrust in working relationships with employees. Don’t promise something you can’t live up to. That includes doing annual reviews on time, following up on career development with your employees and even those Friday office lunches together or Monday morning meetings with coffee and donuts. Keeping your word means a lot to good employees.
5.) Training. One of the biggest mistakes CEOs, presidents and business owners make regards training. The mistake made is not training your employees enough to do their job as well as possible. No matter how successful your company may be, it will continue to be successful with ongoing training at all levels of the company. If your company is in a period of challenges, don’t stop training employees. It could be one of the keys to getting your company back on track. You never want your employees to get bored with their work or with their job. That’s when their mind begins to wonder; they start to think: Maybe there’s a better place I could be. Maybe I could make more money. Maybe I could find more interesting work. Then on a lunch break, they are online looking at the possibilities for a new job at a different company. That’s why it’s so important to train your employees. Not just when newly hired but even the most senior members of your staff need training. It gives people new ways of thinking; new ways of doing things. Otherwise, how can you expect them to do better – and for your company to do better? Training helps good employees become great employees!
6.) Are you leading your company? Don’t answer this question quickly. Think about it. Are you truly leading your company as a CEO, president or business owner? As I always say: Leaders lead. No excuses! As a leader, how are you increasing your skills, your knowledge to improve the business? Do you encourage and support the success of others? The moment you stop leading; the moment you stop learning, is the moment you open the door to allowing more mistakes to happen which will cost you business; if not the company and your dreams of success. Good employees look to you for leadership and guidance so they can excel at their jobs.
There are so many things that require your attention every day as a CEO, president or business owner. There are certainly more than six mistakes that cause good employees to quit at your company.
Sit down, think about and analyze yourself, your business and what your doing to manage, lead and operate the company effectively. How can you better hire, motivate and encourage the people that work for you? It’s an ongoing process. But you’ll find the employee retention rate to be greater when you find what works best for your company. Everyone will be happier. There will be less stress. The company will be recognized as a pleasant place to work with good management, great products/services and long term, good employees.
To your success!
Business expert and strategist, Howard Lewinter, guides – focuses – advises CEOs, presidents and business owners throughout the United States across a wide variety of industries, to MORE success – MORE profit – less stress. Business people trust Howard’s vast business knowledge, intuitive insight and objective perspective to solve business problems and issues. Get MORE from your business. Talk business with Howard: 888-738-1855.
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