The Biggest Cost of Turnover Could Be Not Knowing the Reason It's Happening in the First Place
I learned several years ago to lead by walking around. Let me explain by giving you two contrasting actual scenarios:
I have a friend whose business was going exceptionally well, and he decided to come into the office was no longer necessary. He worked from home, mostly building his real estate portfolio.
Unbeknownst to him, his accountant was not communicating the whole financial story, and his business partner was developing a cankerous resentment for him not being present at the office for day-to-day activities.
The cancer quickly spread to the manufacturing department. His empire cr has been because he wasn’t there to defend his position as an honest and committed business owner (which I know him to be).
The partnership ended severely, and he was left with nothing to show for two decades of building a multi-million dollar business. The business is still thriving but without my friend.
The kicker…I saw the handwriting on the wall and had warned my friend a couple of years prior, and he chose not to act.
Just down the street is another internationally recognized business as an industry leader. Another friend and mentor of mine also own this business.
He taught me that the best way to lead is by walking around. Day in town, he makes a point to stroll through the manufacturing plant and other business areas. He knows almost all his employees by name.
I had heard stories like his driving his Corvette out of the parking lot at the end of the day, only to reevaluate around when he spotted an hourly wage worker’s hood up on his car. That day he led by giving a battery jump-start.
While this business owner walks around daily, he talks to people. He gets feedback and suggestions that help his manufacturing plant and offices run more efficiently and helps the workers be more satisfied.
He knows the cost of turnover and the even higher cost of negative gossip. He also understands the value of positive PR. Both have the potential to spread like wildfire.
Time for Introspection:
Are you Scenario #1 or #2?
My clients are astounded when I come to them with reports of disgruntled workers and inefficient systems. Usually, business owners are so busy they don’t have the time to maintain the foundation of their business…the internal workings that can make or break you.
It’s not your fault that you don’t know. You are the common enemy. But you can infiltrate their secret defenses in one of two ways:
1- Start leading by walking around.
2- Hire a third-party liaison that they will trust with their secrets.
If you want to chat briefly about the most cost-effective and will produce the most favorable results in the shortest time, message me!
If I can give you some quick tips and send you on your way, that’s what I’ll do. If you need some professional help, I’m your person.