Suncourt Hotel & Conference Centre – Taupo, 14 Northcroft Street, Taupō 3330, New Zealand
When it comes to business, profit is important, but cash is king! The same analogy can be made when it comes to your team – hiring well is important, but retention is king. The cost of hiring, training and the temporary loss in productivity represents thousands of dollars for most businesses. The return on this investment depends on two things – how long employees stay and how much they contribute when they are there. Every successful entrepreneur knows that a strong team makes it possible to accomplish great results, while providing employee satisfaction that is key to retention. But dream teams don’t just happen, they are developed over time and require commitment at all levels – starting with you, the owner, CEO and leader of your company.
So here are our top 10 tips for developing your dream team:
1. Set Clear Expectations with SMART Goals. In sports, teams measure success through wins and losses. How will your team members measure their success? If you want them to meet your expectations, you must be clear on what you want. This starts with goals that are specific and measurable. If you want a 20% growth in revenue, a 10% reduction in rejects or a 12% reduction on A/R days outstanding – tell them what you want. Then everyone is on the same page.
2. Have Common Goals. While every employee should have individual goals for their position, business goals shared by the entire team are also important. In addition to promoting teamwork, common goals provide a way for team members to link their individual goals to the overall business results
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Where’s My Cash Gone?