Have you ever wondered how you can get more out of your team? Sometimes, it’s best to start by assigning the right people to the right positions. Here’s how you can pull this off.
When a New York-based marketing agency saw a billing decline with a top client, problems soon followed.
To begin with, the agency’s cash flow management and profitability took a hit. It also needed a refocus of its services and a pivot in its niche.
None of these things were easy to accomplish. Eager to improve, the agency committed to this and sought our help.
Our first goal was to help them identify where they wanted to go.
We outlined the core values, goals, and focus needed to facilitate change. Then, we helped the agency identify the most profitable services that its people also find enjoyable.
With that done, the agency promoted these higher-value items and soon saw an increase of 18% in gross profit.
But that’s not all.
We also worked with the agency to streamline its internal efficiency. Making a shift in focus and services offered requires technology and standardized procedures. Ultimately, the agency got its entire team to work towards the same goals.
Six months later, they saw a 217% growth in net profit.
How were we able to accomplish this with the agency?
Most importantly, it was having the right people in all the right roles. It’s a critical component for long-term growth that’s often overlooked.
Leveraging your team to achieve shared goals is something you can do, too.
How Letting Go of an Employee Can Benefit Everyone
Sometimes, you have to let some people go to boost productivity.
It’s a fact of life for any business owner and leader. But not many of you feel comfortable doing this, even when that person is detrimental to the team.
One of our agency clients went against our recommendations. They continued to keep on payroll an underperforming executive. It didn’t take long for them to realize that an underperforming team member did more harm to the agency.
They would’ve been better off letting that person go sooner.
For many, the primary reason for refusing to let go of someone is the fear of sending the person into uncertainty. While that is a possibility, you have to look at it from a different perspective.
Someone who’s not doing their job as expected is perhaps unhappy. Maybe they’re not utilizing their skills in the position. Or, maybe they’ll be much happier somewhere else.
When you fire someone, you’re also saving them from an unsatisfactory work experience.
The person could go on to become extremely successful elsewhere. At the same time, you remove the discomfort and can fill that now vacant role with the right person.
Often, it’s fear or sadness that prevents business owners from letting people go. But in reality, this action is often a win-win, especially with those who can’t perform their functions.
And then, there’s also the question of finding a replacement. So, how hard will it be and will you find the right person?
Three Tips for Finding and Aligning Talent to Your Company Values
When looking for new employees, it’s important to accomplish two things. You have to find talented people. And you also have to find people that can align with your company values.
The following tips should offer the necessary guidance.
Tip #1 – Look Beyond the Resume
Look at it this way – make it your goal to find the best candidate rather than the best job seeker.
However padded a resume is, you can easily verify that later. What you want to get from an interview is to know the candidate. What makes that applicant tick? Does he share your ideas about how your business should work? Does he align himself with the core company values?
Find out more about the candidate’s personal life and experience. Look past degrees and get to the factual information. See how their mind works and assess their personality.
A person’s character matters a lot and it can tell you plenty about whether you’re looking at a good fit for your company.
Remember, very talented people can cause headaches if they clash with others.
Tip #2 – Maximize Your Business Visibility
To find the right people, sometimes they have to find you first. That’s why your business needs as much visibility as possible when you’re on a hiring path.
So, increase your online presence and post ads on the best job sites. Leverage platforms such as LinkedIn to increase your chances of finding talented candidates. Emphasize your recruiting stage even on your home page. If you have good traffic, then there’s no reason you shouldn’t make it known that you’re hiring.
Collaborate with influencers in your niche to maximize your visibility. Why?
Sometimes the best candidate for the job isn’t actively searching for one. But professionals follow influencers all the time. This means they can hear about an opportunity at your company even without browsing job sites.
Tip #3 – Create an Evaluation Sheet
Chances are you have to go through a few applicants to find the right fit. It’s understandable that this is a scary aspect of interviewing someone for a key role in your company.
So, how do you decide between applicants?
Our advice is to stay true to what you value.
Create an evaluation sheet and measure all candidates against the same criteria. Then, identify what you’re looking for according to your ideal candidate.
Ask the same questions with multiple applicants and measure their reactions. Look at the personality traits that you like or don’t like and make notes.
Fill Your Key Roles with Like-Minded People
What often brings a business into decline is when employees and leadership are not on the same page. Other times, it’s underperformance in key positions and no room for improvement.
Letting go of those that weigh your business down is not scary. But the truth is, it’s a win-win situation for all parties involved.
So, allow the people that aren’t aligned with your core company values to go somewhere else where they may have a chance to thrive. Then reach out and find the ideal candidate to take over that position. Find someone that wants to get the same results that you want.
Boost productivity and profitability by having the right people in the right seats.
If you can’t do it alone, or if you need more guidance, let us know. Contact us to book your profitability accelerator call and see how we can work together to optimize your business.