Here are the best articles we found for the month of August:
The future of work arrived out of nowhere, on the back of a once-in-a-century pandemic. Team dynamics got challenged as members dealt with illness, trauma, and crisis. We’ve all been forced to rapidly and radically adapt to new working norms. The Ferrazzi Greenlight Research Institute has spent more than 15 years studying high-performing teams, but I’ve never seen entrepreneurs rise to the occasion as they have this year.
When the crisis subsides, the temptation will be to turn back that progress and retreat into old behaviors. But entrepreneurs need to shift from overload to shared load, and to practices that can transform team performance to find unexpected growth–and lower unsuspected risk. Let’s not go back to work; let’s go forward. Read more here.
When you think about the sheer number of components it takes to build a business, your mind starts to race. There are the structural elements, such as the type of business, products and services, the marketing, client fulfillment and more.
As an entrepreneur, your focus might tend to be on what you need the most right now. An informal poll of entrepreneurs would probably point toward a discussion of prospecting and closing new business. It would center around getting more sales and the filling of pipelines.
While the here-and-now are essential, successful entrepreneurs think strategically. They focus on long-term moves they can make, because they understand that’s the most powerful way to scale a business. Read more here.
As of 2018, the fast-food industry is experiencing very high turnover-150%. This means if you started the year with 20 employees, by the end of it you would need to replace 30 of those employees.
Employee dissatisfaction causes high turnover.
It also can be caused by low pay, an unfriendly work environment, long hours, or lack of appreciation. Every employee is different. Furthermore, some are motivated by money, some by having a flexible schedule, and others by the type of work they do. Read more here.
Hiring great employees for your small business can be tricky if you don’t have effective interviewing skills and practices. You don’t want to make a mistake in your hiring decisions which could negatively impact your company in a costly way.
According to the Society for Human Resource Management (SHRM), businesses that do not have a standardized hiring process are five times more likely to make a bad hiring decision.
What makes for a great employee? You are looking for someone who has the right skill set, attitude, and manner that fits with your business and employees. It may be easy to find someone with the hard skills you need (e.g., a construction worker’s ability to build a road or a house) because you can teach those skills. Read more here.
If you missed last month’s link roundup please check it out here.