Title: A Simple Strategy to Increase Profits Author: Kathleen Gage Email: kathleen@turningpointpresents.com Word Count: 712 Copyright: © 2005 by Kathleen Gage Web Address: www.kathleengage.com Publishing Guidelines: You may publish my article in your newsletter, on your web site, or in your print publication provided you include
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A Simple Strategy to Increase Profits By Kathleen Gage
In today’s competitive business environment it is essential to find ways to reduce costs and increase revenues while keeping productivity and quality high. One of
best ways to achieve this is through hiring and retention of outstanding employees.
Far too often hiring managers rush through
hiring process due to being reactive rather than proactive when filling positions. With some preplanning in
hiring process and implementation of sound strategies once people join your organization, you will lower
cost of doing business by considerable amounts.
As you prepare to hire consider
following:
•What type of person are you looking for? •What are
values that drive your company? •How difficult is
job you are filling? •Do you have anyone internally who can do
job? •How long will it take to find
right person for
position? •What are you willing to negotiate with
potential candidate?
In looking for potential candidates you may want to try more than
traditional employee search. Tap into your network of professional connections. Some of your best candidates may be working for your competitors. Be careful about hiring someone just because they are a friend or family member. Not that friends and family members don’t make good employees - often they can be fantastic. And yet, if you are hiring them only because they are a friend or family member, you are setting yourself up for some big problems. With
wrong choice morale with other employees can go down. With
right choice it is just as likely to go up.
Think through
compensation package. Are
wages fair for
job, industry and market? Make sure your benefit package is competitive for your industry. Find out what other companies are offering as far as compensation and consider matching or beating their offerings.