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Create a great business through effective staff “How to make your staff as effective as possible” - How far you go is up to you Stuart Fechner National.

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Presentation on theme: "Create a great business through effective staff “How to make your staff as effective as possible” - How far you go is up to you Stuart Fechner National."— Presentation transcript:

1 Create a great business through effective staff “How to make your staff as effective as possible” - How far you go is up to you Stuart Fechner National Key Account Manager Melanie Alpar Business Development Manager

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3 Why is the Structure important? Structure should support and enhance the practice’s culture & strategic objectives Should remain flexible enough to adapt to change The success of a simple structure relies on the business owner’s ability to provide close guidance and direction in order to co-ordinate individual work effort Different types of Business Structures

4 Types of Structures A simple business structure Business Owner Financial Planner Risk WriterParaplanner Admin Assistant

5 A functional business structure Groups employees around dedicated functions or activities Types of Structures

6 A divisional business structure Groups employees around specific clients, product lines, geographic areas, outputs etc Types of Structures

7 From a Practice Perspective Identifies skills, personal attributes and qualifications required when recruiting employee’s Assists in measuring and monitoring an employees performance Provides a reference for planning and restructuring Assist in preparing interview questions Help to identify specific training and development needs Helps in construction of recruitment add or briefing to recruitment agency Position Descriptions

8 From an Employee Perspective Provides clarity about their job Assists in understanding the expectations that their manager and the business has of them Provides insight into the achievements or outcomes by which they will be evaluated or rewarded There is a move towards getting them signed off Position Descriptions

9 Where do you begin? Preliminary questions – What does management need from the role? – What will the employee actually do? – What does the current incumbent think the role does? – What do others in the practice think the role does? Position Descriptions

10 Checklist a brief description of where the role sits within the business in terms of reporting lines? the qualifications/and or experience necessary for the role, (NOT the qualifications and/or experience of the incumbent)? list the major areas of activity for which the role is accountable? list the outcomes or results that the role is expected to achieve? list the responsibilities that, if achieved, will indicate a job well done? differentiate between key accountabilities and accountabilities to which the role only makes a contribution? explain what specific outcomes are expected in relation to each accountability? use clear language, not vague or ambiguous words that need clarification? Position Descriptions

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12 As far as small business is concerned, recruitment is a big problem! Source: Sensis Business Index, Sweeney Research (May 2004) Courtesy Doug Turek Recruitment

13 Advertise Internally Let current employees consider the role May have the ability to step up or want to change role They may be able to recommend someone they know Advertise Externally Use the Internet or newspaper Recruitment

14 Recruitment Agency Ensure they know the industry and its challenges Ensure they know your business and culture Give them a clear brief about the person, the role and the position Agree the process and fee in advance – can range from 8% - 32% of salary – negotiate – obtain guarantee Recruitment

15 Other options Targeted campaigns at business schools and universities (sponsor information nights) Solicit satisfied clients Hire seniors or target part timers Target employees currently working with other advisers (outside of the Consultum network!) Make sure you utilise the 3 month probationary period Recruitment

16 Remember Sometimes the good people are not looking Don’t be afraid to recruit someone better than yourself Good selection leads to good retention which leads to profitability Don’t overlook ‘B Players’ that bring stability and depth, they slowly but surely improve an organisation and will not leave for better monetary rewards elsewhere! Today’s employees in most cases are not job seekers, they are career opportunists Recruitment

17 Remember differing demographics Traditionalist (born 1900 - 1945) – They want to build a legacy Baby Boomers (born 1946 - 1964) – They want to build a stellar career Generation Xers (born 1965 - 1980) – They want to build a portable career Generation Y’s (born 1981 - 1999) – They want to build parallel careers Recruitment

18 Short listing Recruitment

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20 Recruitment (The ten most common mistakes) 1. Inadequate Screening 2. Inadequate Preparation 3. Lack of knowledge about role 4. Unintentional Coaching 5. Ineffective Questioning 6. Dominating Interview 7. Stereotyping 8. Don’t probe for depth 9. Evaluate Relatively 10. Premature Evaluation Swayed by persuasive candidates who don’t match criteria Fail to develop a questioning strategy and read CV's Judge candidate by wrong standards Tell candidate about requirements as opposed to uncovering Don’t use open ending questions, ie can you…………… You do all the talking Don’t remain objective with likeable candidates Accept inadequate answers Pick the best candidate available even though they won’t do Relying on first impressions before comparing with others MistakeDescription Source: Greening - Profile: The HR Book for Small Business Courtesy Doug Turek Recruitment

21 The 7 steps required to develop a training program Step 1 - Assess business needsStep 2 - Assess training needsStep 3 - Set training objectives Step 4 - Design trainingStep 5 - Conduct training Step 6 - Evaluate performanceStep 7 - Re - evaluate performance Staff Development and Training

22 The causes of poor performance Is the person over-qualified and therefore bored? Are there obstacles to performance? Does the person know what is expected? Are conflicting demands placed on the persons time? Is the person experiencing health or family problems? Are you inadvertently discouraging good performance by delegating more work and placing more pressure on that person? Have they got the skills in the first place? Performance Management

23 Has anyone got some solutions to address poor performance? Has anyone had to address poor performance? Performance Management

24 Some possible solutions for poor performance Could support, development, mentor/coach or structural changes improve the persons performance and or behaviour? Can the person be encouraged to generate their own ideas about how to improve their performance? Could they commit to a plan of action which has been made and agreed upon? Are both parties clear on the follow-through process to ensure the problem or issues is improving or being resolved? Performance Management

25 Providing Feedback Ask permission to provide feedback Focus on ‘what’ or ‘how’ rather than ‘why’ and ‘should have’ Provide feedback that is timely and consistent Avoid feedback when you are angry and emotional Check to see if the feedback has been understood and accepted Start with positive feedback and end on a positive note Performance Management

26 Tips for conducting a performance appraisal Firstly, separate counselling for poor performance from reviewing and appraising - they are different Prepare and encourage the employee to prepare Keep a record of performance throughout the year Check objectives set at the start of the year Discuss training and development requirements A performance review should be positive and constructive Use concrete examples of behaviours to support a rating Document the outcomes Allocate sufficient time Performance Management

27 Tips for conducting a performance appraisal (continued) Listen to each other and encourage 2 way dialogue Examine how well previously set goals in key result areas were achieved Focus on performance and behaviour - not personality Acknowledge good performance and achievements Identify areas needing improvement and obtain commitment to addressing these issues List future directions and steps to be taken Conclude by summarising what the interview has achieved Ensure the employee leaves feeling positive Performance Management

28 Remuneration

29 From the survey we found 40% of responses offer equity of some description mainly provided to senior planning staff by invitation or upon hurdles being met Equity valuation based upon BOLR (ie 2.5 x revenue), EBIT (4 x EBIT) or on a discounted cash flow estimate Amount of equity varied up to 20% Half of those business’s offering equity also provided the finance. Remuneration

30 Other forms of remuneration Education Expenses Parking Mobile Phone Conference Cost Professional Memberships Insurances Flexible Hours Remuneration

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32 Additional Information Classified Salary Information Services - www.csirem.com.au www.wagenet.gov.au The Hay Group - www.haypaynet.com Mercer HR Consulting - www.mercerhr.com.au

33 Aviva HR Workshop Aviva Business Development Manager Worksheets Templates Questionnaires etc Thank you for your time For more information


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