People
Business Strategy

The Single Most Important Asset In Your Business

Businesses can only succeed if you have the right people in the right places

Let’s analyse 

If a business has a structure but the wrong people are placed into that structure then its going to fail, that’s inevitable.  Also, if you are paying someone a high salary and the output from that role is low then you also have money wastage, and taking into account most middle management roles are around 65,000 now and generally half of a company’s workforce stagnate within 2 to 4 years due to poor leadership. So, for sake of argument you have a middle management tier of around 15 and half of those are under performing then you will haemorrhage around 487,500 a year for what we call dead wood. Then you have the knock-on effect of zero progressing and internal negative energy.

Can you imagine if all of your focus went into helping your team achieve set objectives and show continual support as they learn to connect as a group and work closely together, you are going to have a team that will be willing to go that extra mile every day and you will begin to see people that believe they are part of the business.

People are assets and we must invest in them in order for a business to grow

One of the most critical aspects of growing any business is employing the right people. Get it right and your business’s growth trajectory is likely to continue or accelerate. Get it wrong and your tentative step forward might lead to the proverbial three steps back. It’s costly, stressful and time-consuming to manage the consequences of a wrong hire.

Building a high-performing team is one of the most rewarding and tangible measures of success; it creates a win-win environment which drives the growth of individuals and the company. Although recruitment can be time consuming, it is the best time investment you can make. If you hire the right people, most other things tend to take care of themselves

A New Era Demands Smarter Thinking 

There is a whole new set of macroeconomic factors driving the need to focus on people. We are in the midst of a new industrial revolution, where rapid digitisation and evolving technologies are fusing with demographic shifts, lower barriers to entry, evolving business models and consumer expectations, all producing an ever-accelerating rate of change. With this change comes a reduction in the time it takes a business to rise or fall, and therefore a need for a more productive, agile and high-performing workforce.

We live in a time now where people have to be able to diversify, think outside of the box, make smart decisions because customers expectations have changed due to competition. So it’s imperative you have the right people structured into the right roles, so the foundations of the business can support the ever-changing environment we now live in.

By http://www.robertburrus.com

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