Small Business Coach Associates | Business Consulting
Our small business coaches help you increase revenues and profits, boost productivity, save time, hire and train great employees, recession proof your business, plan your exit, and have fun in business again.
As you already know, employees are a crucial aspect of every small business. They give their time, work, commitment, and creativity. So, you want to make sure that you are compensating them in the right way. A performance incentive plan can be a great solution.
In addition to payroll, you need to ensure that you create specific performance incentive plans that can motivate your employees to be as productive as they can be. However, the goals that you establish for each performance incentive plan need to be achievable. Otherwise, you will end up with worse employee morale than when you began.
So, what type of performance incentive plans can you use?
You don’t need to use just one performance incentive plan; you can use several at the same time. However, you want to ensure that each one of them is well-defined and with reachable goals.
Here are some of the most used performance incentive plans for small businesses:
#1: Profit Sharing:
Profit sharing is one of the most common performance incentive plans used by either small and large companies.
Simply put, with this performance incentive plan, the company gathers the funds based on a specific percentage of its annual pre-tax profit. I always recommend that my clients base the profit share on the increase of profits over the previous year. At the end of the year, each employee will get a percentage of this fund depending on their base salary or wage.
One of the disadvantages of using the profit-sharing system is that even the employees who have a poor performance are rewarded. The solution can be using a hybrid of this approach; take the entire profit sharing pool and distribute bonuses according to each team member’s individual performance.
#2: Incentive Plan Levels:
In terms of fairness, this type of performance incentive plan can be better than the previous one.
Simply put, the company will have different incentive plans for the different employees depending on their roles within the company. Let’s say that on the production line, you have two employees and one manager. While both employees receive the same, the manager, who is the one responsible, would receive more. Now, imagine that you have an IT employee who is the one in-charge to have everything working. If he is able to come up with software or an application that can help you reduce your operating costs, he should also get an extra compensation. However, you need to ensure that all levels of organization are compensated which means the directors need to be too. The top management compensation may include stock options, for example, when the managers are able to maintain a good cash flow during a period of crisis.
#3: Sales Commissions:
If your small business sells services or goods, you can adopt the sales commissions incentive plan for your sales people. Simply put, your sales workers will have a base salary and will then earn a commission based on the number of sales they made.
#4: Special Bonus:
Up until now, we have been talking about performance incentive plans that you should have within your company. However, there are special occasions or special projects that you know, can open a lot of doors when they are completed. So, you want to ensure that your employees give their best on this kind of project and ensure that it is delivered before the deadline. This is the perfect situation to offer them a special performance incentive plan. You can decide if you want to pay this bonus to each individual member of the team or if you want to give it to the entire team.
As you can see, there are many different ways that you have to reward the most productive employees. In case you are still wondering why you should adopt this practice, here are some of the main benefits of adopting performance incentive plans:
– Employee Motivation: With more and more complex tasks to complete, it is important to keep your employees motivated. While you can also show your appreciation in other terms, a financial compensation is always seen as one of the best ways. Besides, when the employee feels he is appreciated, he will be motivated to continue to perform well and even to improve his skills.
– Retain The Best Employees: When you want to ensure that you have loyal employees and that you keep the best employees in-house, offering performance incentive plans is a great approach. When the best employees receive a good compensation for their efforts, they will be less likely to leave your company.
– Employee Measurement and Awareness: One of the basics of management is that when employees know that they are being measured, performance increases. When you begin measuring important aspects of your business you become armed with valuable information that will help you to make informed decisions.
As you know, running a small business is not an easy task. So many changes, so few resources, and the result may be chaotic. With so many things happening at the same time, it is easy for small business owners to get stuck in the daily operations and just forget about creating a strategic plan.
However, when you want to take your small business to the next step, you need to make sure that you have a well-detailed strategic plan. This is where you create your business’ vision, mission, and values of the team. In addition, you need to make sure that you also include your financial targets (quarterly, annually and five years into the future). Ultimately, your strategic plan will serve as a guide for everyone in the business to know the direction and goals of the company as well as its culture.
Do You Have a Strategic Plan?
Most small businesses do not have strategic plan, and even fewer business owners deploy their plan. They lack the essential steps of fleshing out the details of the plan, taking action, monitoring and updating the plan on a regular basis.
In case you still don’t have a strategic plan for your small business, it is time to create one. So, how can you start?
Since a strategic plan needs to combine a lot of different information, I will share with you the main topics that need to be included.
Ready to start?
#1: Articulate Your Vision, Mission, And Core Values:
The first thing you need to do to start creating your strategic plan is to define the vision, mission, and the core values of your small business. Note that it is important to make your vision clear. After all, this strategic plan is meant to be used by everyone. And it is extremely important that everyone who works within your company is aware of your vision and main goals.
With this in mind, start by defining the purpose of your business. Why do you exist? How is your business going to make the world better? Then you can proceed to your mission. This should be the way you see your business in 2 to 5 years from now. Make sure that you make your mission inspiring and bold.
Last but not least, focus on the core values or how you expect the work to be done. Be sure to be very explicit about what you value in your employees, customers and vendors as well as about what you want your customers to experience.
#2: Define The Strategy:
As soon as you complete the previous step, you already know more about your company and your goals. So, it will be a lot easier to think about the different strategies that you can adopt to take you there.
In order to decide on the best strategies that should be a part of the strategic plan, you should also take a closer look at the strengths of your business. You should then focus on these strengths, weaknesses, opportunities and threats in your business. Then define the strategies from your findings.
#3: Defining Priorities:
When you are creating your strategic plan, it is important to define priorities. So, how can you do this?
One of the best things you can do is to use your vision of your business and link it to your quarterly and annual priorities. Please notice that it is also important to ensure that your quarterly priorities will take you closer to your quarterly results. Besides, both quarterly and annual priorities need to be in the same line.
#4: Target Customers And Industry Analysis:
When you are creating your strategic plan, it is important to make a special note regarding your customers as well as your industry. After all, when you define your goals you need customers in order to reach your goals. So, take a closer look at your competitors and discover their strengths as well as their weaknesses. This way you can think about how to reach new customers that you have been missing so far.
In terms of the industry itself, it is important that you know if it is a growing or a shrinking industry. This will help you define the most likely scenarios for the demand of your services or products, for example.
While it may take you some time to create a strategic plan for your small business, you can be sure that it is worth every cent. If you do a good job of creating and deploying your strategic plan, both you and your employees will have a better perspective about your business, where it stands now, and where it should stand in 2 to 5 years from now. Here’s an article about developing and deploying a strategic plan in an entertainment company.
As I have worked with hundreds of business owners over the years, many ask the question; “Am I a good candidate for business coaching?” Most business owners get good results from coaching. However I have found a few characteristics in business owners that take good results and make them great!
Here are a few characteristics that will make you a good candidate for business coaching:
Being Action Oriented. Above all other characteristics, being action-oriented is the biggest success factor in coaching. I have had many clients who during every session have completed the assignments that they agreed to complete. Their business results improve like a rocket!
Having Humility. Being coachable means that you don’t have all the answers to improve your business. You humble yourself by admitting that. Although my best clients are some of the sharpest business people on the planet, they have some humility when they come to our coaching sessions.
Practicing Truthfulness. One of the cornerstones to effective coaching is where the client and coach are truthful with one another. This builds trust and moves the coaching relationship to a deeper level. Being armed with the truth helps you and your coaching ensure that effective decisions and actions are implemented.
Being Accountable. The top thing my clients like about coaching is being held accountable. It’s lonely at the top. You may not have someone to bounce ideas off. Being held accountable to your plan increases your result exponentially.
Willingness to Learn. Most business owners have a lot of knowledege. Some have learned to the point that they think they know it all. When I try to move forward with them, they have some reasons that something won’t work. This can become an obstacle to a business moving forward. Learners are earners. My best clients are eager to learn.
Nearly every day as I talk with business owners I will describe the 5 Steps to Freedom and ask them, “Where is your business on the 5 Steps to Freedom?” I have never heard one business owner say that their business in on the freedom step. Take a look at the chart below:
Creation Stage. Business owners that are just starting up are in the Creation Stage. They are researching the market to determine a need for their product or service. They are creating a business model and looking for investment capital. Then they take the leap of faith and launch the business!
Chaos Stage. If a business owner is successful they descend into the Chaos Stage. This stage is characterized by disorder, red ink and stress. Business owners are investing cash, time and energy. They are growing the sales. And usually they are growing the team.
Control Stage. From here a successful business owner will climb into the Control Stage. In this stage the business owner is beginning to measure their results. They are providing incentives to their team and to Strategic Partners to join them. Finally they are expanding their markets.
Prosperity Stage. Business owners in the Prosperity Stage are making really good money but are usually working too many hours. They frequently feel “owned” by the business. To get to the next level they need to economize, or to maximize their profitability. This can be done by implementing a lean program. They need to systematize, which includes documenting all key processes and making process improvements. Finally they specialize, which may mean narrowing the scope of services to the ones that are most profitable and most scalable.
Freedom Stage. When business owners arrive in the Freedom Stage, they could leave their business for 6 months. When they return the business would be performing better than it was when they left! In the Freedom Stage, a business owner can expand into new locations or start a non-profit. They can acquire another business. Or they can simply harvest the extra profits and enjoy a fulfilling life.
So I’ll ask you the same question that I ask other business owners. “Where is your business on the 5 Steps to Freedom?” If you are ready to go to the next level in your business, give us a call. We’ll explore that possibility with you, no charge. Since we’re talking about growing your business, here’s an article on 10 Ways to Grow Yourself So You Can Grow Your Business.
Has your business growth leveled off? Are you feeling stuck and burned out? Grow yourself! This is a very common position that business owners find themselves. Sometimes their business grows beyond their ability to effectively move forward to the next level. This was where I was in a previous business.
My Personal Growth Story
Our business had grown to about $1 million in sales, and I felt like I needed to grow personally in order to effectively lead the business. Over the next few years I took action on my personal growth in a number of ways and my business grew to $8.5 million prior to leaving the business after selling it to a publicly-held company.
Ways You Can Grow Yourself
Since then I have coached hundreds of business owners in the area of leadership. Here are some ways you can begin to grow yourself:
Make a list. Decide where you want to improve. Some areas could include leadership, sales, marketing, reading financial statements, public speaking, etc.
Become a reader. You have likely seen the saying “Leaders are readers.” There are many successful business owners who don’t have a degree, but few leaders don’t read.
Listen to books on Audible. Zig Ziglar, the famous motivational speaker taught business owners to attend “Automobile University”. He recommended the practice of listening to audio recordings of motivational speakers and other business training speakers to get an education. You can listen while at the gym or waiting in lines, etc. Doing so will inject ideas and enthusiasm into your life.
Listen to Podcasts. There are countless podcasts available on every topic imaginable for you to watch or listen to. Take advantage of these free resources.
Hire a Business Coach. Without a doubt the biggest impact on myself and my business came from my decision to hire a business coach. Within just a few months of working with a coach my salary doubled and my work hours were cut in half. Since that time I have always had a business coach.
Business Related TV Shows. There are many TV shows that teach in the area of business. You can watch Shark Tank, The Profit, The Apprentice, etc.
Industry Association Conferences. Attend your industry association meetings and go to the workshop offerings.
Sign Up for Webinars. You can get education from the comfort of your home by attending webinars. With a free webinar you usually have to sit through a sales pitch. But you can attend a paid seminar and get training on most any topic.
Local Workshops/Seminars. You can find all kinds of workshops on Facebook, Event Brite, and Meetup groups. Or search your community calendar for upcoming events
Get a degree online. Do you regret not getting your degree? It’s never too late! You can get a fully-accredited degree by studying from anywhere you wish. Through the CLEP and Dantes programs you can earn courses that apply to virtually all colleges and universities. And you can prepare for the exams by using tools such as instantcert.com . Many students have earned their complete 4-year degree in as little as 6 months.
Jim Rohn, one of my favorite motivational speakers said this, “A formal education will get you a job, but personal development will get you a fortune.”
Begin to grow yourself and your business will grow. It will change your life!
As a small business owner, you probably have already heard about a lean program. In manufacturing businesses, this is called a lean manufacturing program. If you are like most small business owners, you think that this type of program can only be implemented in large companies. But this isn’t true.
Simply put, a lean program is the process of identifying all the aspects that don’t add any value to the operation and remove them. This is known as waste.
One of the reasons why most small business owners believe this strategy is only meant for big corporations is that they don’t have a high production. Nevertheless, no matter your business size, eliminating waste is always important. After all, this allows you not only to decrease your costs as well as improve productivity at the same time.
So if you are considering implementation of a lean program in your small business, here are 6 tips that can help you get started:
#1: Identify and Take Care of Waste:
One of the main goals of a lean program is to remove waste as we already mentioned. But how can you identify it?
Waste can have many different aspects of your business. Included are time wasted in waiting, customer order to service time, defects in manufacturing, overstocking, and when your processes aren’t efficient enough.
Think about the process of making a peanut butter and jelly sandwich. Get the bread from the breadbox, jelly from the fridge, a plate from the cabinet, a knife from the drawer, and peanut butter from the pantry. What would you do if you wanted to make 100 sandwiches? You would become aware that your process to make one sandwich is not very efficient and you have a lot of wasted time. To save time and effort you would set up an assembly line of the tools and ingredients. You would eliminate wasted time and effort. The same is true with every business. You design the steps in your work to eliminate waste.
One of the best ways that you have to identify it and take care of it is to talk with the ones responsible for that specific process. Usually, they have a better idea of what is happening, what can be improved and what steps need to be changed or removed.
#2: Make Continuous Improvement a Goal for Your Business:
One of the things that you need to have in mind all the time is your business and your industry keeps changing. You need to be quick in adapting your business to these changes. And this is where continuous improvement plays an important role. As you adapt to the changing environment, you should take what you already learned and change things for the better.
The reality is that there are always areas to be improved when you have a small business. From production to customer service, accounting or operations.
Most business owners don’t like to outsource. They believe that it is a waste of money to outsource a task or a department when they have in-house employees who can do the same. However, some of these in-house employees don’t have enough skills to do certain tasks. And even when they do, they already have so many things to do that they won’t be able to dedicate to this new task.
While outsourcing isn’t a must in a lean program, it should be considered as a viable option.
#4: Document All Your Processes:
Many small business owners tend to rely on the specific employees who know how everything works inside the business. They are the ones who know how all the processes work. However, what happens when they are sick and need to take the day off? What will you do when a problem with a process appears at this time?
The reality is that you cannot be dependent on just one or a couple of employees. You need to ensure that you have all your processes well-documented. So, whenever there is a problem, everyone will know what to do and what to do.
#5: Collect Data and Use It:
One of the best ways to start implementing a lean program in your small business is to collect data. But what data, you may ask? All data that you can gather. After all, when you have data related to each one of the processes within your small business, you’ll be able to easily identify what needs to be improved.
In case you want to proceed with this idea, my advice is to outsource this task. While you can do this on your own, fresh eyes are usually better to serve as judges and to clearly point out what is being done right and what needs improvement.
#6: Commitment and Perseverance:
This is probably the best piece of advice I can give you when you are implementing a lean program in your small business. All employees need to be committed to the changes and to the elimination of waste. This is the only way that you have to continue to improve your business standards.
Implementing a lean program in your business can add major profits and productivity to your business. No matter whether you have a service business, retail or manufacturing company, applying a lean program will be a giant leap for you toward business freedom!
This week I’m writing about using a Tactical Marketing Plan in a Law Firm. I have been writing about some of my hero clients and how we are able to achieve significant results from our work together. We have 21 Silver Bullets, which are areas within your business that when we improve your performance in these areas, your business will run better.
David’s Law Practice
David is this week’s small business hero. He owns a Law Firm that has been in business for over 30 years. I met David in one of our marketing focus groups. He has been successful in establishing a niche legal practice. His firm helps individuals negotiate tax liabilities with the IRS. David was interested in improving his practice in the area of marketing. His law firm had provided a consistent income to David over decades. However, I saw an opportunity to grow his cash flow considerably. We decided to implement several of our Silver Bullets to address his situation. These included a Strategic Plan, Tactical Marketing Plan, Key Performance Indicators, Pricing Plan, Employee Acquisition Plan and an Organizational Plan.
A Tactical Marketing Plan for David’s Business
A Tactical Marketing Plan entails developing 5 to 6 revenue streams. We make sure each revenue stream is providing an acceptable return on investment. David began to provide weekly Key Performance Indicators which included his marketing results. David compiled marketing results that we reviewed to give us information we needed to eliminate marketing that was not providing a strong return on investment. We decided to pursue some strategic partners. We developed his Strategic Plan and implemented pricing changes. We developed job descriptions for employees and hired some new team members.
Results for David
As a result of these strategies, his results were immediate and dramatic. Here’s what David said:
“I was initially hesitant to take on a business coach, but now I’m glad I did. Since Alan and I began working together my sales have increased significantly and I’m glad to use his services. My profits have increased an average of 50%.” David, Founder, Law Firm
Congratulations David for your remarkable success in using a Tactical Marketing Plan to improve your company! You are one of my business heroes and an inspiration to other business owners. You can view another case study using a Team Building System in a landscaping company here.
When you are recruiting new employees to work in your small business, you want to make sure they have the knowledge and skills for the specific job position you are filling. So while looking at their CV is always something you should do, you should also use psychometric profiling.
But what exactly is psychometric profiling?
Simply put, psychometric profiling is a process that you can use to measure someone’s behaviors as well as mental capabilities. By using this process, you can know if someone is suited for both the job position as well as if he or she will be able to fit in within your small business.
While you may think that psychometric profiling is something incredibly complicated and expensive and that only big companies and corporations can do, this is not right. The fact is that the right employees will help you grow your business. When you take the time to select the right candidate for the job, you will be increasing your odds of success.
When you use a psychometric profiling process, all the candidates will be subjected to one or more assessments that will show their real personality as well as their real abilities. Even though some small business owners believe that psychometric profiling isn’t really measurable, you need to understand that the results are then analyzed statistically. And this will ensure that you get objective and reliable results.
When you are interviewing candidates for a specific job role, it is hard to understand the work skills the candidate has as well as whether she is hard-working or laid back. After all, most candidates show their best side on interviews and when they are hired, they will show how they really are. So psychometric profiling can help you decipher candidates better before you hire any one of them.
Introvert or Extrovert?
Especially in small business, the work environment is extremely important. It is important that all employees get along well, that they are able to communicate and help each other when in need. So, psychometric profiling can help you discover if a candidate is extrovert or introvert, if he or she has a bad temperament, and even if he or she is an easy going person who is easy to work with.
Team Player or Maverick?
As you can easily understand, the psychometric profiling criteria need to be carefully selected based on the open position. Let’s say that you are hiring someone for customer support. You want to ensure that the candidate is a calm person but that he is also pro-active. You need him to be patient and that he knows how to listen and take action on his own. On the other hand, if you are looking for a salesperson, you want to ensure that you have an engaging person who is easy going. So, ultimately, the psychometric profiling process varies depending on the job role.
Benefits of Psychometric Profiling
Many companies and organizations are already using psychometric profiling every time they are recruiting. And there are many reasons why they are doing this:
– It helps with career guidance.
– It helps in succession planning as well as it can help in the development of future talent.
– It helps when it is time to have a promotion.
– It helps with training since coaches will have a better perspective of each employee and how they can easily reach them. In addition, the skills of each employee can also be increased according to his own preferences, allowing the employee to be more motivated.
– It helps as a part of the recruitment and selection for a specific job role.
Using Social Media to Know Your Candidate
As a business owner, you probably already know that many companies are using social media to recruit new employees. And when you are using psychometric profiling, you can have a better perspective of who you are recruiting for your small business. Most people tend to forget about what they say in social media. However, they already left their footprint in there. So, by turning to social media, you can easily discover if your current employees are happy with their work, for example. But you can also notice some patterns in new and current employees. By looking at the social media background of a candidate and using psychometric profiling, you will be able to establish how this person behaves online. Here are some of the things that you will discover with the use of psychometric profiling in social media:
– An inconsistency of facts when the person posts opposite things on different websites.
– Harassment or bullying.
– Posts with harmful images.
– Inappropriate use of language.
– Negative comments about brands and employers.
As you can see, psychometric profiling is an incredible tool that you can use to recruit the ideal candidates for your small business. Besides, you can (and should) also use the data gathered to continue to improve your hiring model.
It’s time to prepare and avoid a business disaster in the overdue bear market. That’s what I’m doing with my clients now. It surely is coming!
Now I’m no soothsayer. But as good as things have been recently, there are a number of indicators that point to a recession. The biggest factor is that a bear market is long overdue. From 1945 to 2009 the average Bull Market lasted just short of 5 years. Historically the longest Bull Market ever lasted 10 years. Our present Bull Market has lasted 10 years. Do the math!
If your business has gone through a bear market in the past then you know the challenges that are presented to small businesses. Your sales drop dramatically, your competition gets ruthless, and your cash flow disappears. Many businesses fail during a recession. Are you ready to deal with it? Below is a list of actions to avoid a business disaster in a bear market.
Develop a written Strategic Plan that assumes that a recession as long a 2 years is imminent. Develop actions to adjust to the coming tough times.
If your business is luxury based, you will be hit harder. Implement lower priced offers.
Diversify your customer base. In my opinion a single customer should not account for more than 10% of your sales during an economic turndown.
Develop a Tactical Marketing Plan that captures 5 to 6 revenue streams. Measure each one to make sure you are getting a good return on investment on each one.
Target recession-resistant customers. Think about the types of businesses that are necessities. Babies will be born, food will be eaten, trash will be created, and government contracts will be won during a recession.
Negotiate long term contracts with customers. This could be a good time to reduce prices in exchange for longer contracts with your customers.
Adjust your Unique Selling Proposition to target smaller, recession-proof clients.
Encourage, equip and track your sales teamperformance to achieve your goals.
Know your lead and lag key performance indicators. Monitor them weekly and make quick decisions to adjust.
Manage your time using the Pareto Principle. Focus on the most important activities such as marketing, and other items on this list.
Build your team. Now is the time to develop strong relationships within your team. They need to know that you care about them during this difficult time.
Meet with your team weekly to review your plan. Not only should you keep them in the loop with your tactics and strategies, you should involve your team in developing them. That way when you make difficult decisions they will understand why.
Increase your cash flow and your cash holdings. Eliminate non-essential expense items. If you have a weak link employee on your team, let them go. Consider an across the board pay cut (possibly a reduction in the number of hours worked) to everyone including yourself.
Cash is King, especially now. Consider bringing on investors to increase your cash. Increase lines of credit with your banks. Although I don’t generally encourage debt, sometimes having debt and more cash in the bank can be better than having no debt and no cash.
Renegotiate your AP and AR. Aim for shorter terms with customers and longer terms with vendors.
Bear Markets are not fun, but you may be amazed at how you and your team can adjust to difficulties. This will likely draw you closer together. When you avoid a business disaster In the overdue bear market, you will emerge stronger. Stay focused, implement this list and enjoy the benefits of growing to meet the challenge.
Attracting only the best employees is every business owner’s dream. After all, you know that you need the right people to help you implement and grow your business. However, you are also aware that the best employees can cost a lot of money. And your budget is limited. How can ensure the best employees choose your company over a big corporation?
The reality is that even though the best employees can be more expensive, they are generally worth every cent since they have the right skills, knowledge, and attitude to help you grow your business. In addition, the best employees like to be challenged. Working in a big corporation may not allow them to make a big impact and they may not be as motivated or accomplished.
So how can you ensure that you only hire the best employees for your small business?
Before you decide to place an employment ad, think about the job position itself. The best employee for one position may not be ideal for a different position. Additionally, you want to ensure that you can keep these best employees working with you for as long as you can. So take a step back and look at your organization and your current employees.
Determine the tasks that will need to be accomplished to reach your business goals. Then, based on these tasks, you can list certain conditions and requirements such as specific skills that the person needs to qualify for your team.
#2: Build Your Brand As A Good Employer:
Finding great employees is all about marketing. If customers decide if a brand is good or bad based on their experience, your employees can also determine if your business is good or bad according to their experience.
The reality is that more and more job seekers are looking to work only for companies they respect and that act transparently. So when your employees think that you are too demanding, or not fair, they won’t recommend your business to their friends. On the other hand, if you appreciate the work of your employees and you have a business environment of growth and opportunities, you will attract the best employees.
One good (and free!) way to start branding your business is by using social media.
#3: Source And Recruit The Best Employees:
Regarding sourcing and recruiting the best employees, you’ll be glad to know that you have plenty of options. While some tend to work better than others, you shouldn’t use only one. In reality, you should use multiple methods since this way you will be sure that the best employees will find out that you are seeking a new team member.
Some of the best methods to source and recruit the best employees are:
Your careers web page
#4: Use Technology In Your Favor:
The reality is that more and more small businesses use technology to engage with the best employees. So, why can’t you do the same?
In the last couple of years, we have been seeing companies improve their careers web pages. Additionally they are making more appealing job postings. Some have also started optimizing their application processes for mobile users.
#5: Define An Effective Onboarding Program:
I cannot stress enough the importance of having a well-defined and implemented onboarding program.
Even though you may have hired the best employee in the world, you need to show them the ropes of your business. You need to provide them with all the information and tools they need to be productive and to show their skills and knowledge.
Implementing a good employee acquisition plan is crucial to attract the best employees. However, you don’t want to simply attract them; you want to retain them. So you need to ensure that you have different recruitment strategies in place. You also need to have a good on boarding program so that the new employee can be easily integrated with the culture of your business.