Successful businesses are only as successful as the people they employ.
It is imperative that all members of your business, from the most senior leadership team to the workforce, understand the business strategy; are able to offer appropriate skillsets and are contributing to the long term success of the business. Sadly, it is not uncommon for senior leadership teams to have different views on business strategy or how it should be implemented. In small, owner-managed businesses, this is particularly pertinent as employees are promoted through the ranks, but may not meet all of the skill sets required for a new role beyond that which they performed very well.
- Are the right people employed in your business?
- Are your management team all pushing in the same direction?
- Do you have plans to retain and nurture talented people?
Getting the right person in the right role is imperative.
Does your finance leader have the appropriate cashflow management and forecasting skillsets and prudence? Does your HR leader have the right communication and empathy skills to motivate and manage employees? Does your manufacturing or operations leader have the logistical and planning foresight to maximize all opportunities available in the production cycle? Does your marketing and sales leader have the creativity, imagination, determination and tenacity to seek out and maximize all revenue generating opportunities?
Be vigilant also for employee dissatisfaction. Unless all of your employees are with you and ‘doing their bit’, your business may struggle to adapt and survive. Your most talented people—those who will help you to thrive in better economic times—should be nurtured most carefully for fear of being recruited by your main competitors. |
