Coffee Fest 2015: Explosive Revenues: The Keys to Profitability
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This is the slide deck from Garrett Kramer's workforce management breakout session: Explosive Revenues: The Keys to Profitability Learn why using the right technology for finding, hiring, scheduling and paying your employees will foster higher engagement and drastically improve your bottom line.
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Coffee Fest 2015: Explosive Revenues: The Keys to Profitability
- 2. Explosive Revenues: The Keys to Profitability Garrett Kramer @garrettdkramer Linkedin.com/garrettdkramer
- 3. Who am I?
- 4. Who am I?
- 5. The demographics • Hourly employee turnover rates historically average 70-120% per year • 40% of hourly employees are under 25 years old • 33% are 25-44 • 28% are 45 or over • 80% work within a 5 mile radius to their house • 56% consider their jobs a FT career • 74% prefer to work 30 hrs or less per week • Over 50% apply for 3 or more jobs at one time http://www.tlnt.com/2010/10/29/how-to-find-and-recruit-the-best-hourly-employees/
- 6. What WE THINK they want... 1. Good Wages 2. Job Security 3. Growth opportunities 4. Good working conditions 5. Interesting work 6. Personal loyalty to workers 7. Tactful discipline 8. Appreciation of work done 9. Sympathetic help with personal problems 10. Feeling “In” on things http://www.selfgrowth.com/articles/Dunn110.html
- 7. What THEY really want… 1. Appreciation for Work done 2. Feeling “In” on things 3. Sympathetic help on personal problems 4. Job security 5. Good wages 6. Interesting work 7. Growth opportunities 8. Personal loyalty to workers 9. Good working coditions 10. Tactful discipline http://www.selfgrowth.com/articles/Dunn110.html
- 8. What they want at work? • In the Workplace – Purpose – Goals – Empowerment – Belief – Empathy – Understanding – Thanks – Recognition http://www.inc.com/guides/2010/08/10-things-employees-want.html http://www.inc.com/geoffrey-james/10-things-employees-want-more-than-a-raise.html http://www.inc.com/what-your-employees-really-want.html http://www.tlnt.com/2010/10/29/how-to-find-and-recruit-the-best-hourly-employees/
- 9. But wait…
- 10. What about Explosive Revenues?
- 11. 4 Things are Key • Know your Identity and revel in it • Focus on what your Customers buy • Use the right tools & technology to get things done • Empower and engage your employees
- 12. Know your Identity • Be the best at what you do • Stay focused in your niche • Market and promote it
- 13. Focus on what your customers buy • Sell what people buy from you • Push what your customers actually buy from you • Market and promote what they actually buy
- 14. Use the RIGHT Tools & Technology to get things done • There is great stuff designed to help you! • Use Google and check a few out! • Learn to do it or delegate it
- 15. Finding
- 16. That HAS to be a better way • How do you – Source new candidates – Receive new resumes/applications – Filter through resumes/applications/applicants – Ensure those candidates are the BEST for YOU – Handle new employee on-boarding/paperwork • Do you – Know what you are looking for – Know how to spot them
- 17. Hiring
- 18. What to know • Make it easy for the best people to find your opening • Make it easy to apply • Allow after hours applicants & interviews • 24 hr job hotline or solution – Increase high quality applicants by 30-50% • Become a Magnet • Find proactive candidates http://www.workforceinstitute.org/wp-content/uploads/2008/06/kleiman-recruit-the-best-hourly- 06.pdf
- 19. There HAS to be a better way
- 20. A Story…
- 23. There HAS to be a better way
- 24. Paying
- 25. Empower AND Engage your employees • Appreciate them • Give them purpose • Give them goals • Show empathy in ALL situations
- 26. Employee Engagement • Employee engagement is the emotional commitment the employee has to the organization and its goals. • Engagement promotes • “Customer who had the best experiences spend 140% more compared to those who had the poorest past experience” – http://blogs.hbr.org/2014/08/the-value-of-customer-experience-quantified/
- 27. Employee Engagement http://www.forbes.com/sites/kevinkruse/2012/09/04/why-employee-engagement/3/
- 28. Disengaged Employees = • Lower productivity – Companies with high levels of employee engagement improved 19.2% in operating income while companies with low levels of employee engagement declined 32.7% over the study period. (Source: The ISR Employee Engagement Report. Towers Perrin-ISR) • Higher Turnover – Employees with lower engagement are 4x more likely to leave their jobs than those who are highly engaged (Source:Driving performance and retention through employee engagement. Corporate Leadership Council) http://www.forbes.com/sites/kevinkruse/2012/09/04/why-employee-engagement/3/
- 29. Disengaged Employees = • Lower ROI • Lower Revenue – A study of 64 organizations revealed that organizations with engaged employees have 2 times the Annual Net Income of organizations whose employees are disengaged (Source: The Impact of Employee Engagement. Kenexa) • Lower Profit http://www.forbes.com/sites/kevinkruse/2012/09/04/why-employee-engagement/3/
- 30. Engaged Employees Lead to… • Better service, quality, and productivity, which leads to… • Higher customer satisfaction, which leads to… • Increased sales (repeat business and referrals) which leads to… • Higher levels of profit, which leads too… (6% higher Net Profit Margins) • Higher shareholder returns (7 times higher) – A study conducted across 39 organizations indicates that orgs with highly engaged employees achieve 7 times greater 5-year total shareholder return (TSR) that orgs whose employees are less engaged (Source: The Impact of Employee Engagement. Kenexa) http://www.forbes.com/sites/kevinkruse/2012/06/22/employee-engagement-what-and-why/
- 31. A Means, Not an End • It will STILL take work • It will STILL take effort • It WILL get better • You WILL see results
Editor's Notes
- Learn how using the right technology to find, hire, schedule and pay your employees will foster higher engagement and drastically improve your bottom line.
- Are you having difficulty? You’re NOT alone! The BEST employees don’t just walk in and ask for a job. You usually have to know what you need, where to look and how to recruit them. Attracting and retaining the best hourly workers requires understanding the demographics of todays workforce.
- According to a survey done by the U.S. Bureau of Labor Statistics Purpose - or believing in the companies mission and values Empowerment - or the ability to make decisions Empathy - or feeling that their boss and higher ups actually care, remembering anniversaries, being flexible with vacation, letting people work from home when appropriate… it other words.. It’s the little things!
- Are you having difficulty? You’re NOT alone! The BEST employees don’t just walk in and ask for a job. You usually have to know what you need, where to look and how to recruit them. Attracting and retaining the best hourly workers requires understanding the demographics of todays workforce.
- Are you having difficulty? You’re NOT alone! The BEST employees don’t just walk in and ask for a job. You usually have to know what you need, where to look and how to recruit them. Attracting and retaining the best hourly workers requires understanding the demographics of todays workforce.
- Are you having difficulty? You’re NOT alone! The BEST employees don’t just walk in and ask for a job. You usually have to know what you need, where to look and how to recruit them. Attracting and retaining the best hourly workers requires understanding the demographics of todays workforce.
- Are you having difficulty? You’re NOT alone! The BEST employees don’t just walk in and ask for a job. You usually have to know what you need, where to look and how to recruit them. Attracting and retaining the best hourly workers requires understanding the demographics of todays workforce.
- Are you having difficulty? You’re NOT alone! The BEST employees don’t just walk in and ask for a job. You usually have to know what you need, where to look and how to recruit them. Attracting and retaining the best hourly workers requires understanding the demographics of todays workforce.
- Are you having difficulty? You’re NOT alone! The BEST employees don’t just walk in and ask for a job. You usually have to know what you need, where to look and how to recruit them. Attracting and retaining the best hourly workers requires understanding the demographics of todays workforce.
- Disengaged employees lose an average of 14.1 days a year to lost productivity 40% of disengaged employees leave their job within the first year Employee turnover costs U.S. businesses $11 billion annually
- Disengaged employees lose an average of 14.1 days a year to lost productivity 40% of disengaged employees leave their job within the first year Employee turnover costs U.S. businesses $11 billion annually