Archive for February, 2010

At first thought you might be tempted to think that a recession is the worst possible time to start a business. This certainly isn’t the case! Some very profitable businesses were launched during times of recession because they took advantage of some key factors.

With some smart and creative thinking, you can have your business launched in no time. If you have a clear plan, you can make this happen regardless of the state of the economy.

These tips can help you take advantage of the recession to get your business off to a great start:

1. Start up costs can be lower. It’s less expensive to start a business during a recession than at other times. This is because other businesses are offering deals left and right. You might be able to get lower advertising rates as well as deals on supplies, inventory, services, and more.

2. Take advantage of advertising. In addition to lower ad costs, you may also find that competitors have their guard down. They may be counting on the fact that there aren’t any new competitors, or maybe their financial situations warrant them cutting out advertising altogether. This leaves their customers ripe for snatching.

3. Provide excellent customer service. Excellent customer service matters. Between two businesses, with all things equal, the company with the better customer service always wins. After all, people always desire to be treated well.

  • In a recession, it’s possible that your competition has cut back on their customer service efforts. This gives you the opportunity to come in with top-notch service.

4. Offer bonuses. In a recession, people are more likely to pay serious attention to the businesses that are giving greater offers. You can open your new business with a bang by beating out your competitors with an excellent deal.

5. Excellent employees. During a time of recession, you may find some excellent candidates when it comes time to do your hiring. Because of other companies’ downsizing, you can snatch up some appreciative and loyal people that are knowledgeable and well qualified.

6. Getting a head start. When you start your business during a recession, you’ll get a good head start over other businesses that may be waiting for a “better” time to launch. This means that by the time they do launch, you’ll be that much further ahead of the game.

7. Be frugal. Starting in times of recession forces you to be frugal about your business activities. Because of the recession, you’ll make it a point to search for the best prices and the most efficient ways of conducting business.

  • You may do it this way simply because you have to, but in the long run, you’ll learn a very important lesson that can enable you to run a profitable business for years to come.

If you can launch and operate a successful business during a recession, just think of what you can accomplish once the economy booms again! Instead of waiting for the “right” time, take action today.

 

“Customer Service? I don’t need to worry about that – I’m in Human Resources!” I overheard someone say this at a recent HR steering committee meeting I attended. The group was discussing customer service and how every employee from the ground up is an ambassador for the company. Happily offering up friendly and genuine customer service is important, especially in this critical time where competition is great and those companies that go above and beyond will rise. And isn’t that a constant truth we find weaved throughout our lives?

When you hear the term customer service, do you immediately think of the HR person at your company? Probably not. Maybe you think of the “face” people like the receptionist or sales force. Do this exercise the next time you handle a telephone call at work – conjure up a great big smile (even if you don’t feel like it) and then take the call, smiling the whole time. Then on another call, do not smile at all. Note differences in how the issues on the call were resolved and how you felt on the other end of the line each time. Chances are you had a better result when you smiled on the phone, and even though the other person cannot see your smile, they will certainly pick up on it in your inflection and tone.

Taking HR to a new, more positive direction is critical for your company. Your employees will talk positively about your organization if they feel they are being treated with kindness and respect. Research has shown that if a customer hears just one negative comment, it would take 10-12 positive comments to bring them back to ground zero, and then some to gain positive ground. Your employees are out there saying things about your company. What are they saying?

There are many things you can do to offer great customer service in the field of HR. First, you need to genuinely believe that everyone you deal with during the course of a day is your “client” and you are there to serve them as best you can. Employees get nervous when dealing with HR because of the negative reputation that HR has amassed over many years. Responding with a kind email to each employee as quickly as you can will assure them that the company cares. They see you as the company because typically you are the first one they see when the come in the door, the last face they see when they end their employment and everything in between.

And remember, a small shift in attitude can result in enormous benefit to you and your organization – and it’s free. What can you do today to offer great customer service?

Ann Wolf is a Human Resources Strategist for PRISM Consulting Services located in the greater Cincinnati area. Ann also manages the day-to-day operations of Human Resources for PRISM Title including personnel issues, recruiting and on-boarding new employees, benefit administration, payroll, quality assurance and all of those other “little” things too numerous to mention for 55 employees. I have ten years of prior legal and administrative experience. Along the way, I’ve adopted tried and true methods to maintain organization and productivity so that nothing ever gets dropped. Let me show you how you can set up your HR department and never miss a beat, all the while staying on top of important information and looking good while doing so! Visit http://www.PRISMsuccess.com and http://www.PRISMclosings.com.

 

One of the key steps to having impactful talent management and development solutions is to ensure that the talent within the organization is aware of what is being done to manage and develop them; as well, it is vital that company leaders are aware of the employee’s individual career aspirations. This can be accomplished through a Career Aspiration discussion. This should be a formal and focused conversation that occurs between a leader and an employee that centers on the employee’s career aspirations as well as the potential growth that is available for that employee within the organization.

In order to make this conversation most productive and impactful, there are some key questions that leaders should ask the employee as well as ask themselves. To prepare for the conversation, leaders should first pose the following questions to themselves and be prepared to share this information with the employee during the conversation.

1. What do I see as this individual’s ultimate potential?

The response should focus on the highest level that you, the leader, believes they can reach inside the company and the indicators (drive, willingness, performance) that you have seen which demonstrate that they can get there.

2. What do I think they need to do to get there?

This response should focus on the additional training (perhaps leadership training or specific skills training) or development (maybe an expanded leadership role or a role in a different function inside the company) that they will need to reach this ultimate potential.

3. What do I feel are their key strengths?

This answer should highlight the strengths that they bring to the table and should continue to leverage as they grow their career.

4. What do I know are their immediate key developmental needs?

This response is about the shorter-term development goals as opposed to what was referred to in question 2. This might be something like “needs additional senior level exposure” so others inside the company get to know this individual, or “needs presentation skills training”.

5. What do I see as this person’s next assignment?

The response here should focus on realistic next assignment and the timing with which it is likely to happen.

When sitting down with the employee to have the conversation, it should be time that is uninterrupted and set-aside specifically for that person. It is important for the conversation to be interactive so as leaders pose questions to their employees, they should refer to their own self-questions and interject their thoughts throughout the discussion to keep it interactive.

The following questions are recommended to ask employees during the discussion.

Questions for employee:

1. What are your short-term career aspirations? (I.e., next assignment: 2-5 years)

2. What are your longer-term career aspirations? (I.e., ultimate career goal – level of position)

3. Do you know what it takes to get there?

4. Are you willing to do what it takes to reach that position?

5. What do you feel are your key strengths?

6. What do your feel are your key development areas?

7. What steps and actions are you willing to take in the next 12 months to grow in these areas?

8. What would you like to do as a next assignment?

These conversations should be documented and conducted on an annual basis, at a minimum. Some organizations conduct them with employees every six months, which is also effective however, annually is the minimum recommendation. Conducting these discussions is a vital step in ensuring that organizations have impactful talent management and development practices in place. Career aspiration discussions not only let employees know where they stand but gives them a say in their development; as well, it ensures that leaders are differentiating their resources and appropriately developing the employees who have the strongest desire and potential to reach the most senior level positions in the company. It also enables the appropriate development of those who prefer not to excel to the highest levels but are the true technical subject matter experts. Developing the talent in a differentiated manner gives companies the best return on their dollar.

Next article topic: Key Steps to Conducting Effective Feedback Discussions.

Andria Corso who has over 15 years experience as an Executive Coach and Human Resources leader. She works with clients to develop leadership skills and talent strategies that align with business strategy and drive results. For more information on Andria and how her skills can support you or your organization, visit http://www.andriacorso.com