One of the biggest challenges facing modern businesses of all sizes is how to take the business to the next level of success and profit without the cost structure getting out of control. One of the biggest costs on most business’s Profit and Loss Statement is salaries and wages, or in simpler terms, people.
As a business leader, your challenge is to get more out of your people without making them work ridiculous hours or chasing them around barking orders look at this now. What would it mean to your business if all the people you employ were passionate about the business, understood and believed fully in the goals and ideals of the business and strived each day to deliver the goals and results their job was designed to deliver?
In the past, business leaders have often resolved growth challenges by employing more people and trying to get them to generate additional sales and improved customer service, only to find out much later that the growth in overhead costs has cancelled out the growth in sales. It has often been said that any business is only as good as the people in it, and today this statement is probably truer than it has ever been.
A famous quote states; “A fish rots from the head down” and this is true for any business or organisation. The senior leadership of any organisation is where any strategy to get more from the people must start. The leadership of any business must give clear direction, rules and goals for all members of the business to follow, including the most senior directors.
Being a leader in a business is not just about explaining the goals and rules of the business, but inspiring the team in the business to become passionate about what the business is trying to achieve and why it is so important. Many leaders forget that you can only lead people, not a task or a job, and as such, it is the way the people feel and view their jobs that often makes the difference between a company that slowly moves forward and one that continues to outperform its competitors regularly. True leadership is about inspiring people where they care as much about the results and performance of the business as much as the directors and owners do.
Another key function of leadership that is often overlooked in modern business is that of retaining and developing the key talent currently in the business and to be constantly on the search for new talent to bring into the business to develop. Many of the business owners I speak to in the UK today, tell me that they often get very high numbers of people applying for jobs with them, but finding real talent in the market place is becoming more and more difficult. It is therefore very important that the most senior leaders in any business must align the culture and perception of the business to attract the kind of talent they are looking for and to retain the talent already within the business.