Title: A Simple Strategy to Increase Profits Author: Kathleen Gage Email: kathleen@turningpointpresents.com Word Count: 712 Copyright: © 2005 by Kathleen Gage Web Address: www.kathleengage.com Publishing Guidelines: You may publish my article in your newsletter, on your web site, or in your print publication provided you include resource box at end. Notification would be appreciated but is not required.
A Simple Strategy to Increase Profits By Kathleen Gage
In today’s competitive business environment it is essential to find ways to reduce costs and increase revenues while keeping productivity and quality high. One of best ways to achieve this is through hiring and retention of outstanding employees.
Far too often hiring managers rush through hiring process due to being reactive rather than proactive when filling positions. With some preplanning in hiring process and implementation of sound strategies once people join your organization, you will lower cost of doing business by considerable amounts.
As you prepare to hire consider following:
•What type of person are you looking for? •What are values that drive your company? •How difficult is job you are filling? •Do you have anyone internally who can do job? •How long will it take to find right person for position? •What are you willing to negotiate with potential candidate?
In looking for potential candidates you may want to try more than traditional employee search. Tap into your network of professional connections. Some of your best candidates may be working for your competitors. Be careful about hiring someone just because they are a friend or family member. Not that friends and family members don’t make good employees - often they can be fantastic. And yet, if you are hiring them only because they are a friend or family member, you are setting yourself up for some big problems. With wrong choice morale with other employees can go down. With right choice it is just as likely to go up.
Think through compensation package. Are wages fair for job, industry and market? Make sure your benefit package is competitive for your industry. Find out what other companies are offering as far as compensation and consider matching or beating their offerings.