I fell in love with the book “The Dream Manager” by Matthew Kelly a couple of years ago, and it got my wheels turning on how the concept could be utilized in so many different ways to help local businesses.
The book is a business parable — written in 2007, mind you — far before the aftermath of 2020. The main premise is twofold. No. 1: There is a shortage of talent, which will grow only larger as time passes. No. 2: Happy people are happy and productive employees.
And unhappy people are usually 5-to-12 dreamers who are forced to be 9-to-5 workers — or, in other words, people who have less time to fulfill their dreams than to earn somebody else the money to fulfill them.
Kelly points out that this active disengagement of employees is the single factor that affects morale, efficiency, productivity, growth, customer satisfaction and profitability most. If employees are engaged for 75 percent of the time, that means disengagement is costing you 25 percent of your payroll every month, not to mention the negativity that has on your customers’ experience.
He states that a football coach’s No. 1 priority is finding and nurturing talent. It is their No. 1 priority because it will 100 percent determine the success of the season. It should be the same for all companies because a company’s purpose is to be the best version of itself. Kelly points out that while a company would, of course, want the employee’s main purpose to help the company become the best version of itself, that just isn’t how humans work. An employee’s purpose is to become the best version of themselves. Finding a way to create an environment that helps them become the best version of themselves while at the same time moving the company to the best version of itself is the key.
Attract, engage and retain. That is the goal. But we have some pain points — one being historic low unemployment rates, even though we have seen this ease up a bit year to date as reported in this publication last week.
We also have increasing competition with more job opportunities entering the market — far more than our area has ever seen.
Another hardship is the rising costs of attracting new talent. According to the Society for Human Resource Management, the average cost per hire is $4,700.
There is also the rising cost of retaining talent. Many studies indicate that the cost of employee turnover is 1.5 to two times the employee’s salary — for example, a $60,000 salaried employee will cost the company $120,000 to replace.
By 2025, it’s estimated that millennials will make up 75 percent of the workforce. Millennials value meaningful motivation and want experience-based incentives; they are not as monetarily motivated as other generations.
All these factors need consideration as companies strive to be the best version of themselves.
Being a small-business owner of a few local startups, I designed a solution.
I have created a Corporate Partnership program to help companies attract, engage and retain good talent as well as save the company an immense amount of money on company outings, advertising campaigns and products and services from local and national brands. My Corporate Partnership program is offered free to the company and requires no additional work or tasks for its staff.
At Amy Stockberger Real Estate, our foundation is built on Lifetime Home Support, and we’d love to help you build wealth through real estate. Don’t hesitate to contact us today for an update on the local real estate market. Keep in mind that there is no such thing as a national real estate market; just like you wouldn’t check the national weather forecast to see if you need an umbrella for work, you shouldn’t rely on a national real estate market to inform your decisions.