I have been speaking with a CEO over the last two years about making investments in his team.
When I offered to come in to do some work with his people, “Joe” said
“Tom, I just don’t have the money right now to spend on equipping my people. Let’s talk about that later, ok?”
I’ve met quite a few “Joes” in my time, and I understand. It’s never an urgent thing to quip your people. No one ever yells at you about it. Interestingly, the Blanchard company estimates that
“The average organization is forfeiting over $1M/year in untapped potential.”
- What ideas do you have that your organization can’t do today?
- What could you achieve with an additional $1M in productivity?
Getting back to Joe. Just last week I learned that over the last month his entire sales team has moved to other organizations. Every. Single. Person.
Joe’s revenues are entirely tied to those team members.
Worse than that, he can’t service his customers – and now customers are calling the sales guys at their new jobs looking for help that Joe simply can’t provide right now.
Instead of spending a relatively small amount on planning, equipping and leading his team, now Joe is saddled with a crisis, AND he has to cover so many more costs, too!
- The cost of covering the position while vacant
- The cost of finding replacements
- The cost of getting the new team members up to speed
- Lost revenue from customers leaving to go to companies that CAN service them today
“Taking no action is often the most expensive option of all” – Ken Blanchard Companies
I am not trying to throw Joe under the bus here. Joe’s a good guy who made some poor choices leading his team, and now he’s in a crisis. It makes me sad to see good folks needlessly suffering.
Does this sound familiar? Here are three ideas to make a difference with your team today:
- Connect – take 5 minutes today and go to a team member’s office – ask about their weekend activities, their family, their hobbies, their charitable work – ANYTHING but work or tasks.
- Catch them doing something well, and reward them for it – a Starbucks $5 gift card, a handwritten note, an ice cream cone – it doesn’t have to be expensive.
- Create a plan with them to help them grow to the next level. Identify a growth opportunity that interests them, and lay out the steps and timeline to help them get there.
When you’re ready to do more, consider making an investment in time and skills for your team members – This is often far less expensive than you might fear it will be, and can pay huge dividends in
- employee engagement,
- customer satisfaction,
- repeat business,
- referrals and more.
If that’s where you are, give me a call. I’d be happy to help. Before you know it, your team will be as happy as this young lady!