You’ve heard it said; Begin with the end in mind. In this case, the “end” is having a great management team and a profitable company. Below is an exert from my next book that is an absolute true story from a real company.
Nick said, “Bob, we had never offered a person a job with our company before we did a complete and comprehensive background, criminal, drug, and credit check on the candidate. There is a minimal amount of turnover with our firm because we treat the people with the respect that they deserve. We pay every employee a fair salary, at or even above the market for their position. We bonus every employee in the company from the business’ profits.
My partner and I believe that the way we make money with our business is to hire the best people in the area, treat them with respect, give them the tools to do their job, provide them an excellent environment to work in and compensate them fairly.
We do a performance review with all employees in the company every January and July. We share with them what they are doing right and where they may need to improve. The review times in this firm are easy to deal with because we employ the best people. Everyone loves working here and respects their job. We have not have had an employee leave the company in two and a half years. We had a great CFO six months ago, but he was in a horrible car accident and didn’t make it. The position has been open since then because we have not been able to find the right person. This hiring system that we use has worked for us very successfully for 30 years, and we’re not changing now.
Ever since I worked for these two gentlemen, I have tried to model their business practices. I have copied their corporate culture, hiring practices, and business philosophies with every company where I have turned around.
The employees in that company were one big team supporting each other to make the business very profitable. The company’s group of employees was like a “Dream Team” case study of a successful business. The reason the company was so successful was because of the two owners. They made the hiring process the most critical function that they were responsible for accomplishing.
I worked for this company for eight years as the COO/CFO. The only reason that I am not working for the organization today is because they sold the business. Even when they sold the company, the two owners were very fair to every employee. They distributed a considerable share of the proceeds from the sale to the employees.
If you treat your employees like these two owners, your business will be a success too!
Robert “Bob” Curry has turned around more than 70 businesses, both large corporations, and small businesses. He comes to your place of business or the site of your choice. The first consultation, of course, is at no charge. Bob Curry has a stellar track record of professional success and excellent formal education, including Masters Degrees in Taxation.
Bob published his first book “From Red to Black – A Business Turnaround – The Matter of ABC Shutters” that is on sale at Amazon.com.
Please read all my blogs at Fortlauderdaleceo.com.
See the website Redtoblackbooks.com.
If you would like to comment on this article, my email address is Bob@ceorsc.com.
Bob resides in Fort Lauderdale, Florida, with his wife, Esther.