I often get this question, “How do you get staff to stay?” “How do you prevent them from learning everything from you and going out and creating their own business?”
First and foremost, you need to protect yourself and have good non-competes and contracts in place for protection. Beyond that, we have to let go of that fear because that fear only holds us back from giving our employees everything they need to succeed and ultimately that is what we want and need, right? We want them to be rockstars! We want them to be great and we want them to do more and grow with you.
We are currently in a world that many markets are seeing massive change AND and an all-time low unemployment rate: 2010-2012 we were at 8-10% unemployment rates we are currently at a 49 year low at 3.7% nationally. Wow!
What does that mean for business owners? Well, that means that hiring good people has become and will continue to become more challenging. Our “good” people and team members are getting offers, recruited, promises for “more” and “better.” Don’t be blind to that! We need to become better for our people; we need to create stronger cultures, stronger relationships and care more about others. Love your people! And if you don’t have people that you can love right now, time to clean house.
As an employer, it is far more cost effective when looking at the monthly overhead and expenses to keep staff on payroll. In addition, there are incredible resources and experts in very specific and targeted market that can save you hours and thousands. Often time paying large hourly rates is actually more beneficial because they know their shit. What could take a low-cost hourly person on your payroll 40 hours could take an expert contractor 10 or LESS, it is crazy!
The more you give the more you get in any and every area of your life.
If you want amazing people, give them what they need;
– Listen to what they want
– Ask them their goals
– Care about them and their dreams
– Invest in them, give them the tools they need to succeed
– Pay them
– Allow them to succeed
One of my favorite quotes that I like to implement in my business is from Richard Branson, “Train your people so they have the ability to leave you, treat your people so they don’t ever want to leave you.”
Great read on this especially in the world we live (for employees and employers) Linchpin: Are you Indispensable? By Seth Godin.