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Why some staff WILL leave you

Why some staff WILL leave you

It’s not always for the right reason but sometimes no matter what you do, it’s inevitable. Working conditions, salary level, conflict among staff, moving to a new location, career progression not available, head-hunted, recognition and reward above salary, lack of autonomy, respect and more could be sited as reasons. As a small business owner, management, leadership and continuous communication with staff is not easy within the total demands of your business. We don’t always get it right either. And that’s OK, as long as we learn and improve. What happens every day – you just don’t see it Recently a client called to discuss a staff member who approached them to respectfully challenge their remuneration package. “The catalyst was an advert on Seek. Where can employees gain misinformation? One place is a job advert!” The staff member was a Client Service officer of an SME Financial Planning firm and the advertisement touted a $15,000 greater package for what appeared to be exactly the same role. Trying to put myself in the employees shoes, the spin going through my head could include: I’m being underpaid and if so, the employer doesn’t value my effort. That extra money would go a long way to reducing my HECs debt or give me that surf trip I want to the Mentawais next year! I wonder if the rest of the team are being paid more than me? I know I put in as much time and effort as everyone else. My employer just spent 5 weeks overseas on what looked like a great trip after the dealer conference. I’m probably paying for that....
Hospitality one day, guiding financial futures the next!

Hospitality one day, guiding financial futures the next!

Want to learn from a successful career transition to financial planning? I recently sat with someone who chose to transition from another industry and pursue a career in financial planning. Having been successful in running businesses for 11 years, he started a journey of investigation, made the decision to complete the Advanced Diploma of Financial Services and began networking for a role in the industry. He has now been in a financial planning role for 12 months and shared some of his learning with me. Some initial findings from the industry There is no doubt that graduate programs and the creation of successful career transition pathways to the financial planning industry are necessary for sustainability and growth. It’s also one of the drivers of the industry becoming a profession. The recent analysis completed by Griffith University and Zanetti Recruitment & Consulting has identified that 85.1% of those surveyed will grow their staff numbers in the next five years with 64.5% indicating they would seek graduates for growth positions. Financial Planning SME’s overwhelmingly reported they want a structured graduate recruitment and development pathway within the industry and are looking for guidance in this area. Industry associations and government are focused on transforming financial planning into a profession and the recent PJC report recommendations propose continuous higher education and minimum standards. Some of the learning he shared with me There is no doubt this individual was driven to succeed, had existing business acumen, clear engagement skills, a demonstrated ability to learn and a genuine interest in helping others. Arguably, to transition directly to advice from another profession or industry, these traits...
It’s not about the money!

It’s not about the money!

What makes for a good work environment. There are a whole series of factors. The physical working environment, leadership behaviour, open communication, team work, recognition, reward, continuous professional development & education and more. But be very clear: It is about the money too! If a potential candidate states it’s not about the money, then pay 50% of the market and see how long you’ll retain that team member. People need to be passionate about what they do. They need to enjoy going to work. Paying market or above is about feeling valued……being respected and recognised for their contribution to a business. I’m not talking about a green fields business paying below market because of cash flow restraints but upside on achievement of outcomes or sweat equity where someone backs themselves to receive upside in a venture — this is different. I’m talking about engaging an employee with the skill that matches your expectations and achieves outcomes. Someone that has the right Attitude,Attributes and Ability to learn. Working for love not money? Unless it’s not-for-profit and their mission in life is to help others, they are working for a commercial, profit generating business. You must be the messiah if they are going to work for less or nothing. We all want to feel valued and be rewarded in different ways. Paying someone below market when you own or represent a profitable business and expect them to feel valued? nope, nada, niente, nothing, forget it, you’re wasting your time. And is that what you want to do, run a sweat shop? Exploit your workers for greater good of shareholders or self? As an...
Two important questions about your job!

Two important questions about your job!

  Two important questions about your job! Am I adding value? Do I feel valued? A business leader of a large listed entity recently shared with me: “over the last 22 years, these are the questions I regularly asks myself about the role I perform”. By asking these two questions on a periodic basis, he has always ensured his career and personal satisfaction levels are on track. If the answer was ever “no” to either question, then he’d reflect on the reasons why. He’d then address the matter within his organisation to improve the situation or he’d consider alternative options. He has only moved companies twice in 22 years. But within these businesses, he’s had numerous roles, new challenges, new learning, renewed enthusiasm, career fulfillment and a successful career. Life is simple, not always easy Can his process and outcomes be this simple? What would be the additional “digging” questions he asked of himself in this process and what did he do about it? I haven’t had the chance to ask him yet. But I image it could include: Am I contributing to achieve the KPI’s I’d committed to? Am I offering value to the business and people I lead? Am I offering my full potential? Are my clients genuinely getting value from me? Does my direct manager value my contribution and if not, why not? Do I get out of bed every morning looking forward to the day ahead? How important is career progression? Am I developing my skills in the direction I want to? In my travels I’ve always found that most successful people turn complexity into...
True Giving — A Marketing Segue

True Giving — A Marketing Segue

Those with children understand there’s a need to be selfless. That doesn’t mean we always achieve selflessness! True giving is where there is no expectation of anything in return. Damn it’s hard work being human. When marketing a “for profit” ​business,​ the lines are always blurred. The book Jab Jab Jab Right Hook by Gary Vaynerchuk is an example of understanding how to build trust through delivering education and value online before asking for something in return. “The Social Adviser” consultancy espouses the same methodology. Their premise? — you need to earn the right by giving value before you can expect something in return! For these teachers, they don’t expect everyone will gel with your generosity however your audience is amplified and some will. For many people though, reciprocity is the expectation… whether in the positive or negative. Do good for me and I’ll do the same. Wrong me and look out! ​When the gifts you give are laden down with expectations, they cease to be gifts and become units of exchange that you are, in effect, trading for some reward — Extract from Daily OM   As human beings, are we capable of true giving? ​With this conundrum to reflect on, the ZRC team like to support charitable giving in different ways. I have been asked by two businesses (known to us) if we could promote a charitable event to our network. We’ve said yes and that’s why you’ve received this communication. Below you’ll find invitations to two Brisbane charitable events where you can give (and get something in return:). You will have the opportunity to network with other professionals (Business owners...