How to continually improve your team to continually improve your turnover
If you go into the bank, if you ask someone to invest, or if you want to sell your company, you will be asked: “What is the projected annual turnover of the business?”
Ultimately it might be the net profit that will define the success of your growth and the immediate future resilience of your businesses worth. But it’s important to continually improve the turnover to provide you with the potential to increase the net profit, develop sustainability and create that potential of further continued growth.
Developing your people and your team is a fundamentally essential component to achieving this success. But how and where should you be looking to continually improve?
Imagine the working mechanics and attention to the servicing that this vehicle might require…
Compared to this one…
Are you providing the appropriate levels of people skills, equipment and quality parts for the servicing of your people and systems to ensure that they continue to work in a high performing and mechanically efficient way?
High performance vehicles, people, teams and businesses don’t just develop by accident. They are carefully put together and developed by hard working experts. All of their systems are mechanically efficient; their working practises are purposeful with everyone and everything they do; always focussing on delivering the business agenda.
The skills, knowledge, expertise and experience of your people, as well as the efficiency of their working practices, is one of the essential components to support the potential of increased turnover and the sustainability of developing business growth. But what areas of the business efficiency should we be focussing on? The answer is all of them.
“Look after the people and score will take care of itself,” – Graham Henry Lead Coach, All Blacks World Cup winning side 2011.
So develop your people to ensure that you have the potential to increase the business turnover. Take time to consider exactly what taking care of your people means to you.
Certainly ensuring that they are given the highest level of initial training and when they start to prove competent in their role; make sure that their performance levels are not limited by their trainers experience or expertise; that they are given the appropriate coaching and support to allow their development to continue and to find new and different ways of working. Have mentoring systems in place to ensure that the experience you have across the business is shared. Find ways of developing people in other areas that will support the businesses resilience and create the scope for internal promotional succession planning.
Always look outside of the business to identify people with areas of expertise that you don’t have in your teams. That will bring new skills, new ideas and even simply challenge the way that you do things.
Highly effective communication really should be the easiest thing to establish and maintain across the business. But it is more often than not the single biggest contributor to problems in the workplace among colleagues, management structure, partners, suppliers and clients. It can seriously affect your turnover levels and potential. Consider how efficient and supportive your communication channels are; how effective the methods you choose are; and how effective the tones used and the timeliness of the communication are.
Great leadership is always a major contributor to high performance in people and teams. Be sure that you appoint and develop HP leaders.
Al Pacini says in his ‘Inch by Inch’ speech (Any Given Sunday) “The opportunities we need are all around us, they are ever break of the game, ever minute and every second, they are even 6” in front of your face.” The same goes for the workplace and improving turnover, so make sure you are looking for every opportunity and never stop.
If you want help to identify ways to improve your team to improve turnover don’t hesitate to give us a call on 01536 215240.