Money and happiness...how do those two words sound to you? More times than not, these don't go hand-in-hand, but what if you could have both and provide the same to your team members? If this sounds appealing to you, the first hurdle you'll need to jump over is turnover.
It's the roadblock stopping so many companies from reaching their goal of a high profit and a stress-free, happy life. It's a situation that is incredibly common among businesses everywhere and something that hiring managers tend to put on the back burner. The problem is, if you ignore the turnover situation, it will become urgent, and then you'll be limited in who you can hire.
So, how do we fix the issue and lower turnover? Tom Gimbel, CEO of LaSalle Network, has the secret.
I recently watched a short clip of Gimbel, displayed on Inc.Video, explaining his ideas for higher profitability, happy employees and lower turnover. Here are a few takeaways:
Tom Gimbel's Secrets to Lower Turnover
- "Create a nice environment. It doesn't need to be expensive, but it needs to be clean. It needs to be painted and the computers need to work. They are such basic things that you think aren’t important to people, but they really are."
- "Remember your employees' families, birthdays and if they have kids. If you give someone the opportunity to go see their kids’ plays, that’s going to come back to you tenfold when they’re working on a Sunday afternoon to get projects done.
- "Treat your employees the way you would if you were courting one of the biggest sales people or the biggest clients to join your organization. How would you treat them? If you can manage to treat your staff that way, you can really build a unique culture that will decrease turnover."
According to Gimbel, if you want to lower your turnover, increase your profits with your clients and have a better work life for yourself, treating people well will result in that and it makes it a happier place for you to go to work.
Let's say you're one of those hiring managers who thinks turnover isn't a problem and loosing your best employees isn't a possibility. Here are four reasons why turnover should scare you:
Why you should worry about turnover
1. A bad economy means only the best will find new jobs
2. Talent shortages are real
3. Unhappy employees don't perform as well
4. The best way to find strong candidates is through networking
To dig deeper into these reasons, take a look at this article written by HR expert, Suzanne Lucas. Follow her and Gimbel's advice and you won't lose your best hires. Keeping them around will ensure money, happiness and the dream of creating a successful business will come to life.
Losing salespeople? Take a look at our complimentary eBook to find out why.