Remember when “Idiot Lights” replaced your car’s gauges? The red lights told you something was wrong…. but what?
We have Idiot Lights for our businesses too. They just “light up” in different forms. Such as:
- Job Re-Do’s, Order cancellations and Returns
- High Employee Turnover
- Prospects… Do you know how many are in your pipeline?
We also have some lights that don’t light up until it’s too late:
- Who will take over when you retire? Are they prepared? How will you get them there?
- Will the sale of your business fund your retirement? How much will it bring? Will that be enough?
Most of the examples above can be addressed with an appropriate process. A process is nothing more than a system that can be followed, step-by-step. When followed correctly you get consistent, predictable results each time.
For example, if you are experiencing high turnover rates, you probably don’t have a process for hiring. Or, you’re probably not following the process you have. If you are like 85% of the population, you are placing an ad, running a bunch of people through some interviews, and picking the person that “feels right in my gut.” Guess what? Your gut is wrong.
By following a process, beginning with a detailed profile, then a procedure to find and screen appropriate candidates and ending with an executive level interview to determine a cultural and attitudinal fit, you will find good employees that will fit your organization. You will also save yourself, the leader, a lot of time and the tremendous cost of a bad hire. (Studies show that hiring the wrong person can cost as much as 50% of their annual salary).
Business owners tell me everyday, “I don’t have time to come up with a process for everything.” Do you have time to hire replacements every other month?
If you, the owner, are “doing all the doing” then Yes, you don’t have the time. Stop working IN your business and work ON your business. Take the time to build some processes into your organization.
…..To your Success.