Your Investments In Your Personnel….Your Employees’ Loyalty and Dedication…Are Not….On Your Balance Sheet

By Sid Chadwick

“Technology is nothing. What’s important is that you have faith in people, that they’re basically good,  and smart, and if you give them tools, they’ll do wonderful things with them…”…….Steve Jobs

INTRODUCTION:

As technology shows no signs of slowing, “How do you select employees to hire…train….and retain….?”

In approximate numbers, “What do you figure is your investment – for each of your employees’ education and training…..?” 

Asked a little differently, “How much time, patience and errors are required to hire, train, and ‘get-up-to-speed’ – a replacement?”

For skilled employees under the age of…let’s say…45…”Why should they stay?”

Where am I going with these uncomfortable questions…?

What does your average employee know about your company’s history…why customers buy from you…what you try to do best – as an organization…what senior management is trying to accomplish – this year…and next year…?

Here’s a Model to Study:

1. Current Owner, without any Print experience, was given the company (a modest Non-Heat-set Web Operation) by his Father (with an unexpected medical condition), about 13 years ago. Current Owner’s previous profession? A CPA.
2. Profitability? 7% – working to return to 10% pre-Covid.
3. Revenues up 6% in last year, Growth over last 13 years: 400+%  approx.
4. Distinguished Personnel Practices: Sr. Management cooks a hot meal for all employees and reports on the previous month’s performance – Monthly!
5. Employee turnover? After 1^st 3-4 years of replacing “deadwood,” nearly “0”. (Experienced personnel just keep finding us, as we need them.)
6. Non-traditional Business Development strategy? No Sales Reps – just Customer Referrals.
7. Recent & Upcoming Investments? Over $1,000,000 in the last 15 months; Budgeting $2,000,000 for additional Heat-Set Web Press in the next 18 months.
8. Succession Plan: Son (3^rd generation) committed to take the reins – with a developing management team.
9. Affiliations? Chadwick Consulting CEO Peer Group.

SUMMARY:

You can’t fake that you care. Personnel respect discipline and consistency of purpose.

You can’t change your company’s history.

But you can recognize what could and needs to change to create an atmosphere that employees, Customers, and suppliers – cherish and want to support.

“…Simple can be harder than complex; you have to work hard to get your thinking clean to make it simple….”………..Steve Jobs