Does your business have a plan for all it’s People?
When it comes to maximising growth, companies typically have strategies in place for essential areas like revenue and sales. But what about a people plan? And more importantly, why does your business need one? Let’s find out.
Suppose we pinpoint some of the critical strategies that SMEs define as ‘game-changers’. Here, most business owners choose to focus the majority of time and effort on creating an airtight sales pipeline, along with costing and profit margins. But in terms of structure, revenue is not what’s posing a threat to today’s high-profiting organisations. A lack of time spent on the recruitment process is the most common cause of problems. Simply put: Hiring the right people at the right time is an absolute must. In many global surveys carried out the number one thing that is currently restricting revenue growth is people.
Make Hiring the Best Employees Your Top Priority
To help your business scale to its full potential, it’s worth perfecting your management structure or identifying any department gaps internally. It’s worth remembering that people are THE lifeline when it comes to your company’s development and future success rates. Thinking outside the box can be a little daunting at first. Try to remember that change is precious as it can allow you to plan and remain prepared. You will ultimately save time by opting to pool your resources from the get-go and identifying which areas could use more human resources.
A healthy revenue is crucial for any operation to build steady success. However, suppose you want to cut out the guesswork and focus on your company’s long-term goals. In that case, it’s far more effective to switch your attention to hiring the best calibre of employees in the first sales quarter rather than leaving recruitment until a later date. So many companies hire at the last possible moment often robbing the company of a resource that was much needed earlier on.
Organise Your Team and Set Long Term Goals
Suppose you’re experiencing consistent high profits but haven’t done this next step already. It’s now a good idea to draw up an organisational chart that maps out your entire workforce structure. You can then pinpoint precisely how your team will align with your long term business plan.
By getting into the habit of referring to your organisational chart (one year, two years or even three years in advance), this simple exercise allows you to gain valuable insight into what your people plan looks like. You can then feel confident about the upcoming sales year. It will also provide the necessary structure every company needs to be able to thrive.
Give Your New Recruits Time to Learn the Ropes
Although in an ideal world, the hiring process runs like clockwork, that’s not always the case. There will inevitably be an adjustment period. This adjustment can take anywhere from 1-3 months for everybody to learn the ropes, pick up in-house systems and generally understand how things run in your company. Be prepared to invest in the gift of time here. Also, remember that your entire team must work together to stay productive and serve your business from a place of confidence and strength. Ensure your new team members have passed their initial training before Christmas time. This way, they will be fully qualified to enter the growth stage of helping you transition into the next quarter – with gusto!
Recap: Top Tips for Creating an Effective People Plan
1. Design an organisational chart that identifies any gaps in your company’s internal structure so you can advertise the most relevant jobs as soon as possible.
2. Set a realistic time frame for how much time your management team will need to focus on the hiring and training stages.
3. Once you’ve defined a clear recruitment strategy, the third and most important point to acknowledge is the need to take ACTION, stay accountable and make these changes a reality.
Connect with The Transition Guy
If you’re interested in getting your people to plan up to standard ready for your most profitable year yet or need some help putting everything together, get in touch and let’s make it happen.
And remember, failing to learn is learning to fail.