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Presentation includes financial tips from Tom Draggoo of Siuslaw Bank and Workplace Culture & Productivity from Meri Justis.
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Top Three Business Tips
Tom DraggooAssistant Vice President
Business Development Officer
Plan your Work & Work your PlanConservative projections, sufficient
capital, willingness to “bet the house.”Know what your financial reports are
telling you and act accordingly1. Accounts receivable – avoid concentrations,
don’t be someone’s bank2. Sole proprietors – pay yourselves last3. Save for a rainy day; business goes in cycles
Under-Promise & Over-Deliver
This has everything to do with customer service
Phone calls, voice mail, email, RSVPs to invitations, good manners, etc.
Set realistic deadlines and then meet or beat them
Code of EthicsSets the tone for the entire organization and creates a culture of integrity
Code of Ethics
Rotary International’s Four-Way Test of the things we think, say or do:1. Is it the truth?2. Is it fair to all concerned?3. Will it build goodwill and better friendships?4. Will it be beneficial to all concerned?
Questions
Tom DraggooAssistant Vice President
Business Development Officer541.746.7900
IT’S YOUR BOTTOM LINESPRINGFIELD AREA CHAMBER OF COMMERCE
MEMBERSHIP BREAKFAST
Presented by
THE JUSTIS GROUP
Workplace Culture and Productivity
Service-ProfitChain
Premise: When service companies put employees and customers first, a radical shift occurs in the way they manage and measure success.
Harvard Business Review Study
The Justis GroupPutting the Service-Profit Chain to Work
Harvard Business Review
Leadership
Profitability & GrowthPutting the Service-Profit Chain to Work
Harvard Business Review
Employee Productivity Drives Profitability and Growth
The Justis Group
Leadership
Internal Quality
Employee Satisfaction
Employee Loyalty
Employee Productivity
External Service Value
Customer Satisfaction
Customer Loyalty
Profitability & GrowthPutting the Service-Profit Chain to Work
Harvard Business Review
Employee Productivity Drives Profitability and Growth
The Justis Group
Work Place Culture and Productivity
The Bad News:Employee Retention Ranges from 44% to 60%
(Surveys: Manpower, Monster & Career Builder)
Cost of Turnover ranges from 25% to 250% of the annual salary per exiting employee
45% of employees plan to look for a job in 2011 (Blessingwhite Research)
The Justis Group
Work Place Culture and Productivity
Cost Associated with Turnover:
-Exit Costs: HR, Managerial Handoff, Lost Customer/Contacts, Lost Knowledge
-Absence Costs: Coverage, Productivity, Disruption
-Recruitment Costs: Advertising, Internal/External Recruitment, Hiring Manager, Screening
-Onboarding Costs: Onboarding, Training, and Productivity Ramp-up
The Justis Group
Work Place Culture and Productivity
The Justis Group
According to the US Bureau of Labor Statistics, the average non-farm turnover rate is 3.3%
How does your company’s turnover rate compare?
Top Reasons Why People Leave
My career 26% - I don’t have opportunities to grow/advance.
My work 15% - I don’t like what I do or it doesn’t make the most of my talents.
My finances 15% - I want to earn more money.
My desire for change 12% - I want to try something new.
My manager 10% - I don’t like working for him or her.
Other 18% - (economy, job conditions, company mission)
The Justis Group Blessingwhite Research
Work Place Culture and Productivity
Blessingwhite Research:Blessingwhite Research:Employer caution: …
compared to 2008, more employees who can be
considered high performers are planning to exit.
The Justis Group
Work Place Culture and Productivity
Just working on retaining employees is not enough.
You want engaged employees!
The Justis Group
Work Place Culture and Productivity
Once we get past the issue of compensation, people want to
contribute and see their contribution make a difference.
They want opportunities for learning, development,
promotions and to feel as if they are part of the success.
The Justis Group Blessingwhite Research
Work Place Culture and Productivity
Engagement Defined:
Contribution to the company’s successPersonal satisfaction in their role
•33% Engaged•24% Almost Engaged •15% Crash & Burners •10% Honeymooners & Hamsters•18% Fully Disengaged
The Justis Group Blessingwhite Research
Work Place Culture and Productivity
So, what can we do to keep our best people – and keep them engaged in the work
we do?
The Justis Group
Work Place Culture and Productivity
Coaching, relationships and dialogue: - Managers must understand each person’s
talents, interests and needs and match those with the company’s objectives.
- Tie employee goals to the company’s objectives.
- They also need to build personal, trusting relationships with employees.
- And they need open and frequent dialog with employees to head off problems that can lead to disengagement.
The Justis Group Blessingwhite Research
Work Place Culture and Productivity
Trust, communication and culture:- At the top level, a business owner must earn
trust by being consistent in words and deeds.
- It’s also important to communicate frequently.
- Finally, create a culture where your company’s values are truly reflected in day-to-day business practices. In other words, walk the walk, don’t just talk the talk.
The Justis Group Blessingwhite Research
7 Keys to Increasing Productivity
Hire right the first timeTerminate non-engaged employeesGive 80% of your management time to coaching,
relationship building and dialoguing with the Engaged and the Almost Engaged
Train managers to lead proactivelyDevelop and maintain a goal setting cultureCelebrate achievementsEstablish realistic work/life balance expectations
for everyoneBe consistent in all things – create trust, open
communication and honesty
The Justis Group
Work Place Culture and Productivity
Questions?
The Justis Group
Work Place Culture and Productivity
Insights and Actions
(Card on table)
The Justis Group
Work Place Culture and Productivity
Thank You
The Justis Group
