Imagine you have an employee, Susan, who has the expertise, knowledge and relationships to drive your company forward every day. As you make strategic decisions on the direction for your organization, she’s in the trenches transforming your vision into reality. The truth is, Susan knows the ins and outs of your business operations better than you do. And that’s good. After all, you wouldn’t be where you are if you didn’t delegate successfully.
One day, however, Susan sits down across the desk from you and gives you two weeks’ notice. She’s found a job that pays better and offers her more opportunities. What effect would this have on your business? Would it slow operations and reduce employee morale?
Now consider this scenario. As owner of the company, you are also the best salesperson, developing strong relationships with prospects and customers. However, when it’s time to retire, you take the most valuable asset with you: yourself. Because you haven’t trained your employees to sell, your business folds so you cannot sell it.
The Employee Retention Plan Building Block
Every day, business owners lose employees because they failed to put an incentive plan in place to retain them. It can be devastating. Also, business owners may take for granted the value they bring to their companies. Because of this, they do not create a succession plan that ensures their employees can take over when they retire.
When you build a business, you cannot do all the work yourself. If you can leverage yourself, you will have more freedom and increase the value of your business. When you leave, you don’t want the business’ worth to decline. So you need to put programs in place to find, retain and incent talented people to grow your business and increase its value.
We can help you to:
- Create incentive plans that recruit, retain and reward employees who are essential to your business.
- Leverage yourself by providing incentives, such as sales bonuses, to employees who you develop so they can do your job.
- Add protection for the worst case scenario in which a key employee dies or becomes disabled.
If you overlook such plans, your business may be in jeopardy.
Create Your Plan for Employee Retention
Don’t risk losing key employees just because you failed to plan ahead. Make a plan to leverage yourself and build business value. We’ll help you to develop a retention plan based on our quarter century of experience in the field. And to increase your success, we can incorporate your retention plan into The Ultimate Business Owner’s Plan, which we believe, over many years, has proven its value with our clients.
To learn more about retention planning, schedule a complimentary consultation now.