Feels like the workforce pool is shrinking. We don’t want to lose good people who might get offers from other employers looking for talent. We want to link pay increases to results: you learn something, now you’re worth more money. What should we do?
Thoughts of the Day: As the economy heats up, it’s normal for employees to consider their job options. People will stay put for lots of reasons – because they seek security, love the job, think highly of the company – but only up to a point. Big annual pay raises can be deadly unless they’re handed out in a more productive fashion, linked to the company’s performance. Also consider options for alternative forms of reward.
Why is keeping up with finances so complicated – I really don’t get it. It should be more straightforward. Maybe we don’t have the right people; maybe things aren’t organized enough? I constantly struggle to know what’s coming in, what bills to pay, where we stand with the bank. I need to catch up with everything and then stay caught up.
THOUGHTS OF THE DAY: Getting your arms around finance includes sorting out who handles what. Prioritize organization. Reconcile accounts regularly. Decide what reports are needed and how frequently.
We have to make sure our business is set up to be scalable in every way, so that we don’t get stuck as we work to make progress growing the business. What are your recommendations to help us get there?
Thoughts of the Day: Know what it is you’re trying to accomplish and clue everyone in to the overall goals. Move people around to increase communication and collaboration. Use processes and tools to help measure, manage and improve each area of the business. Move ahead fast enough to be challenging and slow enough to allow time to deal with issues before they become big obstacles.
Hoping for big growth in sales this year. But it has to be more than a wish and a hope. Know we should do more pipeline management. Any suggestions on how to make this year successful?
Thoughts of the Day: Think of buckets of activity, tipping from one stage into the next. Define your pipeline, starting with a universe of opportunities. Build a standard profile for each stage of the pipeline. And then do the numbers and track activity.