Is the current skill shortage killing your business scale up?
It’s a common problem I am seeing with business owners now stopping the expansion and growth of their businesses.
If you don’t have the right staff, it’s impossible. But how do you attract them to want to work with you?
To help you overcome this one of the strategies I help business owners with is what I call, aligning the forces.
Recently on a webinar series I co-hosted, Matthew White from MJW Advisory mentioned ESOP (employee share ownership schemes).
ESOP is not well understood here but is very big in places like America and Canada and, and the United Kingdom.
Currently, business owners are having to offer their staff so many more incentives for them to want to stay and keep coming back to work.
For example, flexible working conditions, or working from home, reduced hours that “work/life” balance, extra leave days, extra bonuses for hitting KPIs etc.
Essentially finding external ways to bribe staff to stay and perform. Like rewarding a puppy for good behaviour…
Sadly, the average salesperson has a 14-month period before they burn out.
Why? Because they are working from external pressure, instead of internal motivation.
The best way I have found for internal motivation for staff to over-perform at their jobs, for longer periods is when they have skin in the game.
Simple examples like ESOP plans, where they get shares in the company and feel/know they are part of its growth and rewarded accordingly do wonders for the right people.
Now, ESOPs are not going to suit every employee.
Some employees are satisfied know there is both sideways and upward growth opportunities.
So, if your values are in line with the right people that are driven by expansion, to build on their career’s, something like ESPOS are worth their weight in gold.
This way, your staff and motivated internally to perform and to stay. They have a deeper vision in your long-term plan, instead of their short term pay packet.
Another thing you can do, is delve deep into their goals, their wants and needs and demonstrate your passion to help them achieve it.
Expand on that and show them that you genuinely care about them and their lives, as if they were your family.
Look at the difference between that and this comment I got on a post in my private Facebook group:
“The boss wants me to leave with an order, or an order to leave, lol!”
What do you think makes for a better workplace?
When you lay the foundations with good quality people, that have that same vision as you, that care as much about you, as you do them, guess who then becomes your best recruiters?
It’s not rocket science…
Imagine your business become is like a destination sporting club, where all parties are in it together for the great good of all.
That’s what people want to be part of!
