How to Hire an AMAZING TEAM (Part 2)

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Welcome to the ten minute MBA.I'm your host, Scott declary. On the ten minute MBA, I giveyou tools, tactic, strategies, insights that you can use to start,scale, grower x Your Business. This is part two, which means thatif you missed part one yesterday, you got to Rewind, you got togo back to yesterday's podcast. So part two of how to hire and buildan amazing team. Yesterday I did part one on how to hire and buildan amazing team, so today I'm going to finish up. We're going togo through the rest of building an incredible team and hopefully it will give yousome insight if you are just starting out as an entrepreneur or if you're alittle bit more established and you've already hired a few people but you want topotentially refine your process. So yesterday, what did I speak about? SoI spoke about the hero complex, something that entrepreneurs always fall victim to,and how to get over that and why you have to get over that.Then I spoke about how to find good people. We spoke about culture anddiversity and where to find them and what to look for and question to askand whatnot. Today, I'm going to speak about the importance of making youremployees feel valued and how to and then also workplace culture. What is it? How to create a workplace culture? Setting goals, creating clear roles andexpectations, giving people a sense of purpose, helping your team work together, andtwo final thoughts on building a really strong, kickass team. I hopeyou enjoy part to remember, if you're just tuning in, go back toyesterday's first okay, let's jump right into it, all right. So nowwe're going to speak about the importance of making your employees feel valued. Sofinding the right employee is only part of the process and developing a powerful team. You may have excellent employees, but if they're not managed well, yourbusiness is going to struggle. So treating your employees well benefits you and yourcompany. The importance of treating your employees well can't be underestimated. You maynot be able to make your employees millionaires a day one, but the wayyou treat them makes the lasting difference. In fact, how you treat youremployees often affects them where all the company,...

...more than individual income levels. Remember, people leave a boss, not a job. Certainly, compensating youremployees well is important, but how you treat them may even be more importantthan incredibly high pay, or it could win out over a company that givingthem a little bit more pay. Of course you have to pay them enoughthat they're happy and you have to pay people what they're worth, but thereare other things that are important besides money. In two thousand and fifteen, theHarvard Business Review published an article called proof that positive work cultures are moreproductive. They concluded that Cutthroat, high pressure business cultures are less effective thaninclusive businesses that prioritize their employees needs. Why? In the short term,your business may thrive under high pressure management. Your employees may work twice as hardto meet your rising expectations. But in the long term there are significantconsequences to the high pressure environment, specifically high healthcare costs and increased increased healthissues amongst employees, disengagement among employees and lost loyalty with an extremely high turnoverrate. Let's look at these consequences and sort of dive deep into them.So health issues. So number one issue that arises from high stress business isthe toll takes on someone's health. A study conducted by BMC public health concludedthat individuals who work at high to medium strange jobs visit their general practitioners twentysix percent more than those who work at low pressure job. They also goto a specialist twenty seven percent more. Studies such as this show us thatin order to present a safe and healthy working environment for employees, it's importantto take note of mental, physical and emotional strain on the job and disengagement. Workers who are disengaged are less likely to perform well and far more likelyto have an accident or make a mistake. Here are some surprising stistics about disengagedworkers. Eighty nine percent of employers think employees leave because of money,when in fact only roughly twelve percent leave primarily for better pay. Companies withengaged employees make two point five x more revenue. Employees who are highly engagedare eighty seven percent less likely to leave their company, and it's estimated thatdisengaged employees cost organizations between four hundred and fifty and five hundred fifty billion dollarsannually. Fewer than three out of ten employeears have an engagement strategy. Youwant to check out these stats, go...

...to office vibecom blogs disengaged employees infographic. They have the stats there. These are real stats, so pay attention. Lost Loyalty. High stress jobs also lead to high turnover rates. Soemployees don't feel loyal to jobs that leave them unhealthy or unappreciate it. Accordingto the American Institute of Stress, the number one cause of stress and people'slives is their workloads. They also said that nineteen percent of people pulled hadquit a previous job due to stress. The cost of replacing an employee isincredibly high and obviously should be avoided when possible. So how can you ensurethat you're treating your employees well? Well? This takes us back to the questionhow do you make employees feel valued? To help your employees feel like they'rea valuable member of the team, there are tons of things you cando. Here are some highly effective ways to let your employees know that youcare about them and you're glad they're part of the team. Number one,compensate them well. You don't have to pay your employee so well that youforfeit a healthy budget. However, I feel it that's not the issue withmany people who are listening to this or who run businesses. Paying your employeesa fair wage for the work that they do, at market value will goa long way. You may only have jobs that would normally pay minimum wage, but a small bump up from that would mean a lot to employees.Number to, offer flexibility. There are growing number of employees who really desireflexibility in their work schedule. A study from the Harvard Business Review said thatninety six percent of you, as professionals, want flexibility in their schedule, butonly forty seven percent feel they have that in their current position. Whilein ninety five job was once the norm, this is changing. So this meansthat employees want the options to have a flexible schedule that fits in theirlifestyle. They want the freedom to work a different shift or to work changingshifts or hours based on their needs. Many applicants are looking for jobs thatallow them to work remotely, especially now, or have the ability to work fromhome some of the time. Number three, listen to your employees andshow them that you care. So taking the time to listen to people whowork for you will make a difference and how they feel about their time atwork. Do your best to give them undivided attention. If you're going toset a meeting with them, put your...

...phone down, walk away from yourcomputer or shut off distractions. Let them know you're paying attention by looking atthem and being present. If you're completely unavailable at the time, schedule oftime that you can actually speak with them and actually pay attention to them.Number Four, show your employees appreciation. Almost everyone needs to feel that thework they do is seen and appreciate it. Some personality types need more affirmation thanothers, but most people need to know that the work they do isimportant and valued. A survey conducted by glass door found that over half ofpeople surveyed said they would stay at their company longer if they just felt appreciatedby their boss. Number five, have reasonable expectations. It's easy to feellike your employees have easy jobs. It's especially true if it's something that you'vebeen doing well for a long time. While you certainly don't want to employpeople that are completely incompetent, remember that people learn and inquire skills at differentrates. Something that you're completely comfortable doing may take a new employee some timeto master to get comfortable with. be patient with them other learning. Refrainfrom becoming easily annoyed. Number six, teacher employees well the first time.It's far better to teach them well at the beginning and have them keep retrainingthem on the exact same tasks again and again. Plus, they'll feel likeyou've taken the time to work with them rather than rushing them through important informationthat they need to know to do their job. Number seven, don't beafraid to loosen up a little. Work is the place of work, butthere's also power and play. Google, one of the most successful companies inthe world, knows the value of happy employees. They allow their employees tobring pests of the word to the office. They also offer Jim's, swimming pools, video games, foodball tables loads of other perks. You may notbe able to give your employees as many perks as Google, but you cantake a page out of their playbook. Giving your employees time to have funhas benefits. So, now that you know how important it is to valueyour employees and you know kind of how to do it, let's talk aboutbuilding that great workplace culture. So, in addition the finding employees that fityour culture, you also want to cultivate a culture that people work well intreating your employees well as a great first start. But there's more to managinga great team than just being kind. Here are a few practical ways youcan help grow a workplace culture that's functional, sustainable and, most importantly, productive. So create clear roles and expectation.

When you bring on a new higherit's imperative that they understand their roles and responsibilities. It's your job todefine them clearly so everyone is on the same page. When a job descriptionis vague or open to interpretation, can often become confusing and frustrating. Youremployees may try to do things you don't want them to do, or theymay not be doing tasks you expect them to do. This also often reallyopens the doors for a necessary conflicts with you, with your team between themselves. This problem is compounded when you don't have an effective management system in place. Without adequate leadership, teamworks suffers because no one knows who's and charge.Be Very clear with your employees about their job duties, their roles, theresponsibilities the hierarchy of management. If you're the only one in a leadership roll, ensure that the rest of the employees understand that they are on a levelplaying field. Before you post a job position, determine exactly what you needhelp with. Include this in the job description. The skills you require shouldmake reasonable sense and match the pay scale, as well as how this person fitsinto the orgs and the company chart and company structure. For example,if you're hiring somebody primarily to answer phones, you probably can't reasonably expect them tobe a developer or coding or to help fix a problem on your websitewhen they have some spare time. It isn't fair to current or future employeesto give them responsibilities that are far outside of their experience or even what theyexpect to do, even if they do know how to do that. Youcan't expect them to do high level of work for low level pay or tojust do twenty five jobs just because you know, or you found out thatthey can actually do it and you don't have anybody doing that job. Ifyou feel like your employees are outgrowing their current position, consider promoting them,but do it formally. Try to avoid taking on a never ending list ofresponsibilities and just tacking it on to a strong employee. If you're giving themmore and more responsibilities, the pay and the title should match. Second thingwould be to give employees a sense of purpose. So Andrew Scil too isa business psychologist who believes that in order for a company to be a highperformance business, employees must feel like they have a purpose. More and morepeople want to do more than just punch...

...in and punch out. They wantto feel like the work they do is meaningful and purpose driven. Soil,too, is outlined five major areas of change it can be used in theworkplace. Number One, shaping the story. Let them help create the story forYour Business. Your employees want to feel like they're part of a missionof your business, so allow them to have a say in the direction ofthe company. Number two, ask, don't tell. Instead of telling youremployees everything they should be doing, ask them questions. For example, whatdo they think can be done to improve their own performance? What would makeit easier for them to do their jobs? Number three, create leaders. Youwant people to follow your directions, but you also want them to beable to lead. Leaders are able to influence change and foster high performance culture. Number four, embrace failure. It's important for your business to work smoothly, but your employees shouldn't be afraid of failing. There will be times thatthey make mistakes, and they shouldn't live in fear when they do. Ifthey're innovative, they're also likely to try some things that won't work, thatwill not work out. However, your forward thinking employees are also the onesthat are going to help you grow your business, so give them the opportunityto try new ideas. Number Five, hold each other accountable. Holding youremployees accountable is necessary. It's necessary as their leader, as their manager,as their boss, whatever you want to call it. However, without theother steps, your employees will feel controlled instead of being part of a team. You want them to feel like you're working together towards the united goal.That's why they need a purpose. You need a purpose before you can holdthem accountable. The third thing you should do is to help your employees worktogether to create a harmonious work culture. You also want your ploys to worktogether. Here are some practical tips that you can do to keep your teamgoing strong. So number one, you have to strengthen your leadership. Ateam without a strong leader struggles to thrives. Leaders should set an example for therest of their employees. Their job is to show best practices to therest of the employees. They're also present to create that vision, to guidethe company forward, to settle disputes, to create open communication amongst workers.If your leadership team struggles to get along,...

...work together, to upscale themselves,it will be much harder for the rest of your workers to get alongwith each other as well. Second thing you can do is team building retreatsand activities. Team building activities make your employees feel like rolling their eyes,but these exercises actually can be helpful and beneficial if it's something that your teamwants to do and buys into. The help break down barriers between employees,giving them common goals and give them time to work together and unique ways.Some team building activities are ineffective and actually embarrassing, and they embarrass the teamthe embarrassed the workers. So, before you start making adults put together towersmade of Spaghetti and marshmallows, ask what your goals are. Think about yourgoals ahead of time and ensure that your activities reinforce your vision. You maywant to involve team building professionals to help develop a program that will be effectivefor your company, or even involve your own team and deciding what activities thatyou should be doing. Number three, keep you everybody on the same page, from entry level positions all the way up to upper management. Your teamshould have the same mission. Each member should be given a clear understanding ofhow they can be part of that mission. When everyone is working together towards thatsame ultimate goal, it's much easier for your workforce to work together asa team. Number for, include ideas from all levels of employees. Letall your employees know that they have a say in the business and that leadershipis willing to listen to their ideas. You will be shocked, you'll befloored by how much your employees are willing and able to offer. Number five, encourage employees to communicate with each other. You can foster good employee relationships byoffering social events where they can get to know each other on a personallevel. Give them time to share time together. Throw work socials, gofor lunch, go for dinner. Another thing you can do is give themtime to work together on project. This is a super simple way to encouragepeople to get to know each other at work and develop really great working relationship. So, just to summarize all the things that I spoke about over thepast two days. Listen. There's a lot you can do to find greatpeople. So your business may not be able to offer perks like Google orbe as famous as Microsoft, but the...

...fundamentals are the same. You wantto hire a team of people who are smart and work hard, are trustworthy, have integrity, have curiosity of Grit, have determination, have tenacity. Butit's also important that they fit into your culture and add to your culture. Not to copy paste some of this you'll have to determine from your gut, from your instincts, from what you know works with your company, butthat's all part of being an entrepreneur. Some of this you will be ableto listen back to what I just spoke about and figure out how some ofthe tips that I gave you you can implement into your own hiring practices.Sometimes things can be analyzed and sometimes things can be like strategy can be copiedfrom past businesses, but it all comes down to you having awareness of yourstrengths, your weaknesses and, entrepreneur your strengths and weaknesses that your company has. When you interview someone, Do you feel deep down that they will bean asset to your team? Your Gut won't always be right, but youare the most qualified person to always assess what your business needs. So itis more important to understand and have self awareness than to read different playbooks onhow to do this, because ultimately it's going to be your decision. Onceyou have accumulated and found the most incredible team you can find, you haveto treat them well. You have to make them feel valued, you haveto make them part of the mission. It's not complicated, simply treating themwith kindness, listening to their concerns, making them feel like they're part ofthe team, making sure they have psychological safety. That will put you wellbeyond many businesses. People want to feel like their work is meaningful and appreciateit. It doesn't take loads of money or time to make your team feellike you, like you care, and the benefits of this are going tobe far reaching and long lasting. Finally, give them an amazing culture to workin. Give them the opportunity to pitch ideas, work their way upinto leadership roles, know what makes them tick, know what their personal andprofessional goals are and have the free them to make mistakes in the name ofprogress. That's important that you give them that freedom. Encourage your employees tospend time with each other and help them...

...learn to collaborate together, to communicate, to feel comfortable voicing issues, to feel comfortable trying and failing. Ifyou hire people with integrity and you give them a productive, supportive work environment, there is really no ceiling on the levels that your business can reach.Anyway, this is part two of the how to build an incredible, powerfulteam. Just to recap all the stuff that we spoke about. We spokeabout not being a hero, how to find good people, how to makeyour employees feel valued and why it's so important than, of course, creatinga great workplace culture. So two parts. If you missed part one, goback to the podcast tomorrow and listen to that and you can listen tothis if you just finished up. I hope it added some value to youand I hope it helped you understand the mindset that you have to be inwhen you're hiring your team at any point in your company. Could be yourfirst hire, it could be your hundredth, higher you still have to have thismindset anyways, as different today. Remember any business questions, don't worry, I got you this has been another ten minute MBA, have a greatday. I'll see you tomorrow and.

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