I get asked business questions all the time.
Recently I was asked, “What would you suggest a company could do to add the most value to their business?”
My immediate answer was, “Hire quality people.”
I really didn’t hesitate on this one.
We often get caught up, in all fairness, adding just simple value to our product or service; because it’s easier. Simple things like throwing in a special treat with your packages or having regular sales on items.
I’ll tell you right now, after doing business and consulting for 25 years, I’ve constantly found it comes down to the people you hire. Your team can make or break your business.
Now, there’s been plenty written on this subject. But, of course, we know that when we actually get down to it… that’s a lot harder said than done.
It really comes down to how you bring these people in.
Now, I’ve always loved the Zappos approach to this. Not that I’m suggesting everybody does that approach; it is not possible for all businesses to do this.
But the Zappos approach is once they go through the hiring process and offer the job to an applicant, they actually offer a high some of money NOT to accept the job.
Around $5,000 to NOT accept the job!
It’s a very useful method to be able to gauge why the person is with your company.
I get it though. We all have to pay bills. I totally understand this. And of course, everybody ultimately is there for a paycheck.
But what they’re looking for are people that really align with their company values, and I think that we should all apply that to our businesses.
Because the truth is, if you take on somebody that isn’t really engaged with your company, it’s going to cost you.
Even at the low end, it’s going to cost you $3, $4, or even $5,000 worth of training to realize that they’re not the right person.
So, what are some ways you can make sure you are hiring the right person?:
1. Hire people who fill the gaps in your learning.
If you’ve had areas that are not your stronghold, that would be the basis of the team that you’re starting to build. Find out where your weaknesses lie and hire a team that makes up for that. Read more about this here.
2. Avoid hiring family and friends if possible.
This can easily turn into a mess. Unless you set strict conditions before hiring them, it’s best to avoid this.
3. Hire for personality.
I always say talent can be learned, but personality is forever. If you hire the wrong person, and their views don’t align with the company culture, it can have devastating effects on the company. There is a lot of information out there about toxic employees and their effects on the company.
4. Offer amenities.
It’s not always about the money. Now more than ever employees are looking for a business can offer them, and it’s not just cash they are looking for. So, think about what you can offer your team.
5. Search for them.
Instead of waiting for the perfect team to come to you. Get out there and search for them. You can do this through social media platforms like LinkedIn. This way you are finding applicants that are exactly what your business is looking for.
So, the very best thing that you can add to your business in terms of value is a quality team.
Steve Goodall is a full-time digital nomad and an Iron Maiden fan who has spent the last 30 years working with business owners in driving company growth, restructuring internal operations and providing full consultancy on all platforms including branding, outreach, and marketing. Talking business is his THING… so connect with him on LinkedIn.