5 Essential Tips to build a high performing business. Running a recruitment consultancy means I have had the opportunity to meet and learn from some phenomenal businesses over the years, from small boutique SMEs to large corporates – I’ve seen it done well and also very badly!
I’ve always been fascinated with the development of high performing teams – I help build them for my clients but also, of course, have needed to create them for my own business.
I have spent lots of time studying this subject and below I have included the 5 key traits I feel your business must possess in order to outstrip the competition.
- Clear Vision
Your company must have a clear, ambitious goal. It needs a strong vision that excites and challenges the people within the organisation. A clear vision drives and aligns strategy, objectives and goals throughout the business.
Remember your vision is outwardly facing – it’s where the company will be in 5 years’ time – it should be ambitious and inspiring.
Top Tip: Test your vision – regularly (twice a year at least) test team members on the company vision and values, this is a great way to ensure full adoption!
Your leader MUST be honest and sincere and live with integrity – lead by example. The leader is essential in creating and driving the business towards the vision. A strong leader will exercise control, monitor team performance and establish internal processes that all team members must abide by (including themselves!).
A good leader will engage their team and develop people as “passion champions” and remove anyone who is not on the same wavelength.
Top Tip – Annually or Bi-annually run an engagement survey internally, to see how you and your leaders are performing.
- Learning Culture
All high performing businesses foster a learning culture; a culture focused on coaching rather than advising (i.e. developing individuals and empowering them to make a decision, rather than dictating decisions). They also invest in their team, offering extensive internal and external training.
Top Tip – Invest in your team – training mustn’t stop after the first few weeks / months. You will help develop future leaders and increase engagement and retention.
- Simple Organisation and Teamwork
Your business should always be striving towards simplicity, cutting out any unnecessary bureaucracy. You must foster company-wide sharing of information, knowledge and best practice.
TOP TIP – Audit your processes quarterly – ask your team anonymously what processes they feel could be improved and how?
- Hiring Strategy
Top performing businesses attract and retain the best people. The skill shortage across all sectors is immense at the moment and it puts a huge pressure on our businesses.
You need to have a clear, coherent plan for growth and recognise the time it takes to find and secure the best people. Securing the best talent is the most important objective for any business, do not cut corners.
And when you have them – you need to keep them! Ensuring you follow the 4 points above will dramatically increase retention.
TOP TIP: Have a clear proposition to put to potential employees, utilise your network and that of any trusted employee or partner. Develop your brand utilising social media
I’m really interested to hear what other business leaders have found to be key in their success – do any of these points ring true? Do you do something else that you feel has been essential to your success???
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