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Today, in my series on the keys to business success, we’re talking about the impact of employees on that success. While in years past, employers often thought of employees as replaceable cogs in the infinite wheel that kept their business running. Hire anyone and pay them as little as possible was the mantra in that bygone era, which, unfortunately, lives on today ins far too many businesses.
Workers are major keys to business success
Executive compensation compared to worker compensation
While every business recognizes the impact of executives on the success of their operation far too many businesses attribute a disproportionate among of credit to these executives, especially C-suite folks who have astronomical compensation rates, while the folks who interact with customers, who build the product, and who keep the business running, get peanuts. The average compensation for all C-suite executives tops $ 200,000 while front-line workers earn as little as $ 14,500. Some top executives at Fortune 500 companies earn a median compensation (salary plus stock options) of $ 11.5 million in 2016, more than 5000 times what their workers received.
There’s so little concern for front-line workers that 7 managers at a Tyson meatpacking plant bet on the number of their workers who would get Covid-19. Employees at Amazon complain they don’t even have time to use the bathroom and are forced to pee in bottles on the warehouse floor to reduce the time needed for normal bodily functions.
The role of front-line workers
While the treatment of front-line workers represents social justice issues, contributing to the rapidly increasing income and wealth inequality in the US and several other Western countries, the damage caused by these disparities and poor treatment of workers contributes to lower market performance and other negative factors that reduce business success.
Front-line workers have a huge impact on customers, thus effectively managing your workforces is one of the keys to business success.
Think about it. A customer walks into your store and wants help buying a product. Poorly motivated front-line employees greet the customer, answer his/ her questions, and consummate the sale all while receiving no part of that sale. If the employee feels badly treated or poorly compensated by the firm, what incentive do they have to do their job well, let alone go beyond expectations to delight customers? Face it, a customer who feels the employee cares about them, is fast in meeting their demands, who is pleasant, and who goes the extra mile to make sure customers are satisfied buy more from your store, return to your store when they need additional products, and tell their friends about your amazing store.
In an earlier article, I discussed ways to motivate employees, involving intrinsic and extrinsic motivation based on Herzberg’s theory, so I recommend you read that post to learn more about motivating employees and the impact of good management on customer satisfaction.
Today, I’d like to expand the notion of employees as keys to business success by discussing hiring and onboarding issues.
Online hiring practices as keys to business success
Online job boards
Posting job advertisements on the internet, especially via the use of various online job boards like Glassdoor or LinkedIn, provides many benefits to the organization. For typical front-line workers, using an online hiring board offered by most cities and counties, helps reach prospective candidates efficiently.
Of course, there is the obvious point that you find an employee to fill your vacancy but using these job boards provides other benefits as well. Read on to discover the three chief and crucial advantages linked with online job advertisements.
Cut down your costs:
By using an online job board to advertise for a job position you save a substantial amount of business money, as the fees charged by these services are reasonable. This allows you to spend more of your personnel budget on training and onboarding costs. Lower fees may also mean you have more money for salaries.
First and foremost you save on the cost of the paper ad itself, or whatever other traditional methods you previously used for employee recruitment. However, online job boards provide other benefits, such as scoring applications, that reduce administrative costs incurred by your talent management folks. Further administrative cost savings accrue when you don’t need employees to answer phone calls since reviewing applications is less time-consuming.
Attract more applicants
It goes without saying that if you want to reach a wide range of people then the internet is the best approach. By posting an online advertisement you vastly improve your reach, drawing in as many potential candidates as possible. All things being equal, a larger candidate pool means you have a greater chance of finding the best possible person for the job, which, as mentioned earlier, greatly impacts business success.
If you fear the fact that your advertisement may attract a great influx of unwanted emails and applications from under-qualified and inappropriate candidates use a website offering screening that ensures only qualified candidates apply or offers a scoring mechanism to rank candidates based on your needs. You can even disguise your company name on job boards, if you desire.
Increase the appeal of your company:
By posting a job advertisement on the internet you indirectly advertising your company at the same time. The existence of your advertisement on the internet enhances your search engine optimization (SEO) so you may find your website ranking higher on results pages on Google and other popular search engines. This then generates increased awareness of your company, additional traffic to your website and store, and improved sales. In addition to this, if you post a link to your website in the advertisement itself, this is another way to increase your traffic.
So there you have it; three great reasons to opt for an online advertisement over more conventional and traditional costly methods. Reap the rewards of excess publicity, an increased number of applicants, and lower business costs. What are you waiting for? Get online and post jobs on the various advertising websites out there today.