What Project Managers Need: Project Management Best Practices in 2021

Successful project management

Project management is often misunderstood. People have lots of different ideas of what it is, assuming that it is simply enough to have a project manager of any kind, or thinks that the project manager is someone who can take a back seat and gets all the credit. Both of these ideas are untrue. Successful project management is essential in modern business, but bad project management can lead to disasters. We describe the project management best practices, top tips for effective project management, and explain the necessary skills for project managers, so you can make sure your project succeeds. 

What does best practices mean in project management?

Project management can be best described as ensuring a project is finished. Ideally, within the time limit, budget, and where the team, clients, stakeholders, and anyone else involved, are happy with the end result. There can be good, or bad project management, or none at all! 

So to understand what is effective project management, there are a few things to consider:

effective project management

Saving time to save money

Time wasted is money wasted. Any delays in your project launch means that is a loss if expected income. If you were expecting $30,000 per week for your project after launch, and it has been delayed a month, that’s $120,000 lost immediately.

Further to this, the overheads may continue, and to speed the project along, extra help may be needed adding to the overheads. 

If workers are overburdened day to day, to hit the deadline, then they may burn out, and staff retention may be jeopardized. This is not only bad for the project, but for the entire company. They will now have to slow down, spend more time on hiring and training, and the quality of the project will suffer as a result.   

The Project Management Institute report “Pulse of the Profession” in 2018 found that $1 million dollars is wasted every twenty seconds in organizations around the world due to poor management. Good management has real financial benefits on a mass scale. 

Ensuring quality and schedule control

Quality is a good barometer of success. Quality control, and comparison to other standards, is a vital measurement of success in a project. If project quality standards slip, then the project may be delayed, or have a considerably lower rate of return.

Scheduling likewise is an essential part of project management. By keeping things on track, by being realistic with schedules, the project manager can provide feedback on the project, keep the team working effectively to achievable goals, and this will boost productivity. Bad scheduling can make workers demotivated, or overworked, and may lead to further delays. It requires a lot of re-evaluation and constant appraisal (more on that later). 

Delegation and organization

Knowing who needs to do what and when by is a key day-to-day task for project managers. The project manager needs to know how best to organize their team, and what tasks to delegate and when. 

Bad delegation will lead to a drop in productivity or quality, and bad organization leads to delays. If the project is organized, if tasks are properly delegated to those who are capable of doing them, it makes work easier for everyone, leading to an easier implementation of the project. 

Dispersion of information

The project manager has to be certain that everyone knows what they need to know. It is not enough just to have people working on their own task. Progress, reports, evaluations and reevaluations have to be shared. This may be with the rest of the team, the client, the stakeholders, management, etc.

The project manager needs to be able to know who needs to know what, and what they all need to know. They also, therefore, need to be able to effectively and efficiently communicate this, as there will be constant new information coming back to them, and they need to be able to extract this information from others. 

Best project management practices to follow right now

Best project management practices

For successful project management, you need to consider the following practices. These tips will help you achieve the goals of the project, ensure your team and stakeholders are happy, and manage the workload effectively between members. 

Communicate well

It is essential to communicate as a project manager. Communication has to be clear, consistent, at appropriate times, and with the right people. It is also worth considering taking meeting notes, and recording meetings and interactions to provide a log, to guarantee that everyone remembers what has taken place, and that there are records to prove conversations took place. Consider sharing all communication in one place between team members, such as in Slack

Be in touch regularly

Checking in daily with members of the team, just to say hello, goes a long way to make the team happy. It also shows you are available to hear any concerns, questions, and facilitate conversation between relevant parties. If team members feel isolated, they may not be so productive, or be working in the dark so to speak, without the knowledge they need. 

Host a kick-off meeting

At the start of the project, host a kick-off meeting with everyone, including stakeholders. By having everyone in one meeting, it aligns all relevant parties on the same page, puts names to faces, and establishes clear communication. 

Establish the objectives and project scope

Before the kick-off meeting, you need to have a project brief, which you will establish. This brief needs to include the main objective of the project, goals, project methods, the scope, deliverables, constraints, milestones, and how you will gauge success. This will help all team members know what they are aiming to achieve, and the stakeholders can see how you wish to achieve the goals. 

Re-evaluate

There’s nothing worse than continuing working unproductively, or towards unrealistic goals. If something isn’t working, or even if it is, constantly assess and evaluate all aspects of the project. It is better to make a change earlier on, than it is to drag out a project, risking going over budget or burning out the team, or worse, just failing all together to deliver the project. 

Be realistic

Relatedly, make sure the deadlines for each team member are realistic, to give them space, take off the pressure, and get better quality results rather than rushed jobs. Additionally, communicate any changes back to the stakeholders or anyone else, to show honesty. People would rather work with honest and communicative managers than those who pretend everything is fine. 

Manage risks

A project manager must constantly assess what could be harmful to the project, team, future users of the product, and anything else for that matter. Be constantly aware of any potential risk (which is why communication is key) and try to mitigate and lessen their negative effects or potential. 

Find specialists for repetitive tasks

Some tasks can take a lot of time, whether for your or other team members. There is no harm in delegation if the members are trustworthy. Repetitive tasks, in particular, can be delegated to specialists to get good quality results and to stop wasting time. 

Track progress

A final important tip is that you need to know the project progress and the team progress. You need feedback from the teams, and thighs to be logged and tracked. CRM software can help, but also consider recording and logging all team members’ meetings, no matter who they are with, to make sure that all communication is proper, and you can see how progress is being made. Tying back to evaluation, this can also help you see the progress being made, evaluate in turn what is working, and what needs changing. 

Skills of a project manager

Technical 

The project manager needs to understand some of the project’s technical aspects, or be willing to learn and get a solid enough grasp of certain key features. This way, managers can talk to the members of the team with confidence, communicate clearly, and understand how to make realistic deadlines for technical tasks. Agile project management is a particular skill set for example in modern software companies that is worth considering being adept in. 

In addition, the project manager needs to know what tools they can use to make the project run smoothly. For example, automation software for recording meetings such as Notiv, collaborative software such as Trello or Toggl, CRMs, messaging service such as Slack, and so on. With a good grasp of these tools, the project manager will make their life easier, and the project proceeds with ease. 

Organization, planning, and goal setting

A top set of skills for any project manager. By being able to establish achievable goals in the first place, the steps to reach it, you will make your and the team’s life a lot easier. Time management in project management is an essential skill as well, as knowing how long something needs and making sure that each task is finished at the right time is a major aspect of the role. 

Project management involves working with many people, so project coordination skills, such as being able to keep this all organized, and not overwhelming for anyone, collaborating and communicating between parties, are a must-have ability for any project manager. This ties back to being able to evaluate too, and modifying any goals. 

Metric management 

Being able to recognize what is a barometer of success is essential to project management. A project manager should be familiar with KPIs, budget forecasts, output, and understanding reports that show the status of the project. There is plenty of automated software to help with this however, so you can save time, such as Scoro or Databox, which is free for three users! 

Communication

We already stressed that communication is a top tip. This means communication is a must-have skill for project management. A project manager has to manage workflow, communicate with all parties, from stakeholders to executives and workers, in an appropriate and timely manner.

 It is also important to be able to know what each party wants to know, for example, a developer may communicate some information on some updates which are quite technical, and the stakeholders may need to know some part of this information, but this information will need to be said differently, with a particular focus. Knowing people’s needs, and understanding different people, this is all part of project management. 

Leadership

There is a real combination of hard and soft skills, human skills and technical skills, in project management. A major interpersonal skill you need is to be a good leader. You are leading the project in many ways, coordinating everyone, and with the big picture goal in mind. A project manager takes responsibility for the project, and this means you must be able to get people to want to work with you and achieve the goals you have allocated. A good leader is not iron fisted, but rather inspiration, and knows how to get the best from the team, while ensuring they are happy and productive. 

Conclusion

best project management practices
We have provided a list of the best project management practices and skills needed to succeed in the project management role. What is important to recognize is that project managers always need to learn and grow, and there’s always room for improvement. There’s also new tools and techniques for project management you can always take advantage of to make your life easier. For successful project management, consider learning more about the best tools for virtual meetings.

Effective Project Management Tips and Tricks

Project Management Tips

If you are a project manager, you may have many worries on your mind. Are we going over budget? Will we finish on time? Can your project be finished to a good standard? Are my team members and clients happy? 

Effective project management is essential for modern businesses, using a range of skills to guide the project to completion, communicating to all relevant parties and keeping things smooth.

However, when it’s done badly, people are not synchronized, team members can be overburdened or working in the wrong direction, projects can struggle and company’s and even economies can suffer as a result. This guide will give you some project management tips to help you boost your efficiency and your team’s productivity, whether you’re a beginner or experienced. 

Why it is Important to Improve the Efficiency of Project Management

Efficient Management

A lack of effective project management will lead to unfinished projects,  wasted time and money, and leads to unhappy workers. Only 2.5% out of 10,060 projects in one study by PrincewaterhouseCoopers were completed entirely. Many projects fail because of a lack of organization and a lack of coordination to shared goals. 

In addition, a study by the Harvard Business Review found that 1 in 6 projects go over 200% of the budget. Costs can skyrocket when you fail to organize properly. It also can lead to negative effects on the economy, as money is wasted on a large scale in order to achieve a project which is being managed inefficiently. 

It’s not just about money, of course. Safety and wellbeing can be jeopardized when projects aren’t managed well, as corners can be cut, vital communication is missed, and people can feel overwhelmed and overburdened due to too much work falling in a few places. As well, team members can feel unvalued by a company that doesn’t properly help them. 

Efficient project management focuses on reducing waste, maximizing output, and increasing efficiency. It is an essential part of any business, as the project manager guides the project, ensures everyone knows what they need to do, and should also understand and value the people that are undertaking the project. They also can endure any unforeseen circumstances and help the company navigate them much more. When project management is efficient, projects are more likely to be completed, money is less likely to be wasted and people will be happier. 

What Skills do Project Managers Need?

Empathy, collaboration, adaptability, decision making, organization, problem-solving, communication

There are many useful project management skills. From hard IT skills to soft people skills, project managers need to possess a range of abilities to work effectively with a range of different team members and clients as well. We have a list of some essential skills for a project manager:

Communication

This is probably number one. A project manager is communicating constantly, with team members and clients. It’s just being able to communicate with various people at the same time, it’s knowing how to communicate. For example, explaining things clearly, properly, and with all the necessary details is vital, so nothing gets lost. 

Being friendly to your staff and regularly checking in, even if it’s just saying hello, goes a long way to let team members know you are aware of them and they are valued. 

It is also important to know when to say “I don’t know” and how to say it. In this situation, it is best to say something like “I can’t give you the best answer on this, I will get in touch with the software engineer”, rather than sound like you haven’t a clue at all. 

It’s not just about talking, a project manager has to listen. If you are a project manager, you have to listen to what people think, if they are meeting their targets and expectations, and what they want from other people. If you ignore this side of things, then people will be frustrated and plenty of vital information will get lost. 

You also need to be able to communicate in written form. Acing meeting notes, emails, and messengers to get the right information out to the right people are skills in themselves, and one which any project manager requires. 

Adaptability

Things can go wrong. Things can change. And you may not know everything. You need to be able to adapt to changes and try to keep calm under pressure when managing projects. If you don’t know something, try to use it to learn something new, and get a new skill while you’re at it. Be able to cope with the changes and the mistakes, and you will be a great project manager. 

Empathy 

A major problem happens with projects when the product is put before the people, whether it’s the customer or the team. A project manager has to deal with all these different people, requirements, and needs, so you have to understand what people want, what they really mean if they are unhappy, and try to ensure that they are happy to continue working. A project manager is not, or at least should not, focus on purely getting an end result, but see themselves as a manager of people.  When you focus on results alone, things are lost, pressure is overwhelming on the participants leading to burnout, and people will also communicate less effectively to you. 

Employees need to feel engaged in the project. This ties back to communication, but get the members of the team to interact with the clients and feel a connection to the project. Engaged workers give a significantly better output. 

Organization

While this may appear to go without saying, it is a vital skill of any project manager. A project manager has to bear in mind deadlines, the progress of multiple people, the needs of the client, and a variety of tools as well. To succeed in project management, you need to be someone who can stay on top of keeping track of these different things and be organized. This also requires a strong degree of time management and setting realistic goals and deadlines, knowing how long something will take in reality, and keeping on top of those goals. 

Best Project Management Tips that You Should Know

Project Management Tips

You know the skills you need to succeed in project management, but now we have given some tips that everyone needs to know. Here are four essential tips for effective project management:

Create Project Plan

According to one study, by the Project Management Institute, that interviewed executives, 37% of projects failed due to a lack of clear goals. If your project doesn’t have properly defined goals and objectives, then it is more likely to fail. So one of the most important tips we can provide is for you to create a good project plan. 

You should define the goals, align with the key points, and objectives,  and set up a project scope document, which helps outline the work that needs to be undertaken in order to achieve the goals and objectives of the project. 

Make sure you set out the roles and responsibilities in advance, so everyone knows exactly what is expected of them, and no one ends up with too much or too little on their plate, so to speak. Also, ensure that everyone knows where they need to go to communicate and what software to use. 

Make reminders in a calendar

Have a calendar with reminders that are linked to everyone’s accounts. This can either be using google calendar or some other synchronized software, so long as it is all in the same place and everyone is aware of what to expect. This will help you make deadlines clear, get everyone at the right meetings, and know what is in store for you each day as well. 

Extra tip: When it comes to your own schedule, remember to give yourself buffer time, and time for extra calls, meetings, and any unexpected situations, as you never know what may happen. Think back to our point on adaptability. Keep some space in your schedule! 

Keep communication organized

It is vital to ensure that everyone stays up to date, and you can communicate well. To do this, keep communication channels clear and ideally in one place. 

Use programs such as Slack to organize communication, and ensure everyone has proper work emails if necessary, to prevent an overload of different places for different messages where things can easily be lost.

 Send out regular messages, have channels for relevant teams and stand-up meetings, to ensure that you can keep track of the project progress, and everyone knows where to go when they need to share something or get in touch with someone else. 

Utilize project management software 

Software and project management tools are plentiful these days. There is a range of programs that you need to effectively manage your projects.

 For project management, there are programs such as Trello, which is an online Kanban board where you can see all the tasks, their status, and assign them to team members. There are plenty of alternatives, such as Jira which allows you to have scrum meetings and track tasks, or Toggl plan, which is useful for large teams. 

In addition to project management software, you will need to know what to use for online meetings, such as Zoom or MS Teams

You can have all communication on tools such as Slack, to coordinate different teams communication. 

Time trackers such as Toggl Track can help you see how much time is spent on a task, and allow you to re-evaluative future deadlines. 

Also, we recommend using collaborative whiteboards to work together, such as Google Jamboard or Miro!

 There is a lot, so a trick is to ensure these are integrated as much as possible. This way your meeting will have reminders sent out before, then take place, and you can have information immediately shared, and the progress of the tasks can be updated without having to trawl through lots of applications at the same time. 

Project Management Tips for Beginners

Project Management Tips

The previous tips are useful for everyone, but if you’re just entering the project management world you should be aware of the following tips and project management hacks (though if you are experienced, it’s worth remembering).

Set clear and achievable goals

We talked a bit about goals and the importance of planning. A good tip you should follow is to ensure that everyone knows what they need to do, so set them clear goals. These should also have reasonable deadlines, and make sure you are open to communicating with the team members about the goals, in case they need anything clarifying. 

For example, a bad goal would be:

“Finish the current task by next Wednesday”

Or “Complete the development task assigned to you by Monday”

Because these have not explained what exactly needs completing. They may have lots of tasks, and considering how development can go on a long time, you may actually wish to refer to a specific component of the development process. For example

“Finish the preliminary landing page button for mobile by next Friday” 

In this instance, the developer knows what the task is in more clear terms. They know which task to do and by when. 

Make sure you give an appropriate amount of time, as you want quality results, not rushed work. Also, according to one study in the Personal & Social Psychology Bulletin, deadlines which involve a degree of self-determination on the part of the one who has to do the task are more effective than strict externally imposed ones, so allow for some control over this by giving them the freedom to discuss any deadlines. 

Keep track of your meetings

Managing meetings is a key part of project management. We talked about tools, but a tip you should know is to record and transcribe your meetings and get reports about them. This is essential if you want effective meetings. It saves time, keeps all information logged, and cuts the need for endless meetings to recap previously talked about topics, or to fill in other team members. 

As a project manager, you will have plenty of meetings with team members but also clients, and it’s essential you don’t forget anything. You should take good meeting notes to remember what took place, but this may be time-consuming.

 This is where software such as Notiv can come in to help. Notiv records, transcribes and generates reports with the help of AI of any call, whether it’s on your phone, zoom, MS Teams, etc, and it is integrated with Slack and other software. This way, after meetings, the report can be sent to the relevant parties and everyone stays on top of what is going on. 

Know your strengths and weaknesses

Whether you’ve been doing project management for one day or 10 years, you should always be learning. There are new developments and new skills you should be adopting all the time. What is important is to know what you excel at and what you struggle with. 

Work on your weaknesses and take courses and try to learn the new skills, there is nothing wrong with recognizing you’re not the best at everything! And use your strengths to your advantage, and help others who perhaps struggle in areas you do well in.

 You should reflect on things that go well and what goes wrong, and consider ways for you to improve. There is always something new to learn!

Re-evaluate

As part of being adaptable, accepting things go wrong, you should always check in on progress and reconsider anything that doesn’t appear to work. Is this deadline for the marketing team too short? Are you having too many meetings? Is your budget goal realistic? 

Have regular status meetings and consider what can and should be changed. It is better to make changes when you can as opposed to letting inefficiency carry on, which can really lead to disaster, both financial or human. 

Conclusion

effective project management

We have given a range of project management tips in this article, and we hope that this will help you achieve your goals as a project manager. For truly effective project management, remember, you are managing people, and should see it as such. Communicate well and clearly, set realistic goals, be flexible, adaptable, and ready to learn something new. And make sure you use the tools to help you make your life a lot easier! Read more about recording meetings to see how you can get the most of your meetings. 

Tracking Sales Performance: Best Practices To Evaluating Your Sales Team

Tracking Sales Performance

Are you struggling to keep an eye on how your team is performing? Missing out on vital statistics, or unsure what you need to measure to know if your team is reaching their potential? Want to learn of some useful software? Want to get better at tracking sales performance? Look no further. 

Having a sales team do their best comes down to more than just their hard work. Even when you believe in your team, it isn’t enough to get them to reach the goals you want. It requires goals, targets, communication, effective meetings, rewards, and time management. 

To ensure your team does the best, you need to check how they perform in sales. So, how to track sales performance? We answer this question here. 

How to track sales team performance: Quantitative approach

To keep track of your team performance, you have to look at the numbers. Without any tracking of sales activity and other useful statistics, any progress to any goals you set, and the usefulness of the goals themselves, will be pretty much pointless. So what sort of numbers do you need to track?

Key Performance Indicators (KPIs)

Key Performance Indicators Image

A KPI is a goal you set, and a barometer of your team’s success, effectively a type of sales goal tracker. When you set a KPI, whether it’s sales, conversions, new customers, or whatever other goals you are focusing on, it gives a clear and concrete focus for your team. This should be visible to everyone, clear, and can be viewed daily by your team.   

What KPIs are best?

If you want to track sales, and you are setting a KPI, you may want to know what sort of KPI is best and how to find them. Well, here we can offer some advice. Here are five popular KPIs:

  • Monthly Sales Growth: This KPI helps you see any increase, or decrease, in sales over the month, which, unlike yearly sales stats, gives a closer look at the figures, and for newer companies just getting started, is much more useful. 
  • Average Conversion Time: This tracks how quickly a customer agrees to pay for a product or service, as a slow conversion rate, even with high customer interactions and sales, can still cause big problems for your business. 
  • Average Profit Margin: By tracking profit, you can see a general success, which is particularly useful for companies that have flexibility in sales, a diverse range of products, and offers sales and upgrades to existing customers, as profit is perhaps more important than new customers.  
  • Monthly Sales Bookings: This focuses on closed deals and confirmations, and itself can be broken down into different areas, such as per region, per salesperson etc. 
  • Sales Closing Ratio: This tracks how many sales are in comparison to quotes and offers. Lots of calls and quotes may indicate some success, but at the end of the day, it’s all about closing. 

How to track KPIs?

There’s plenty of free and affordable KPI software, to ensure that management or your sales team performance can view the statistics, and this can also be shared with shareholders to ensure transparency. By using third party sales performance tracking software, you can enter the KPIs, and get detailed data on whether they are being met or not, in an easy to read format. One example is Sisense, which allows you to see detailed data on any aspect of the business. 

Sisense Image

Sales metrics (Sales performance metrics)

Sales metrics are often confused with KPIs, but they aren’t quite the same. Although they are still very useful for tracking sales performance. In simple terms, all KPIs are sales metrics, but not all sales metrics are KPIs.  KPIs are essential parts of understanding the success of your business, your team performance and should be what drives it forwards. Metrics may not be as important but are still important data aspects to monitor. Nonetheless, to track your sales team and success, sales metrics can be good indicators. Here are some good sales performance metrics to keep an eye on, which have a relation to sales, but are not as essential:

  • Customer satisfaction score: Satisfaction doesn’t mean your company is doing well, or badly, necessarily, but it’s a core part of any business’ success long term.
  • Revenue Growth: this may seem like a KPI, but the growth of revenue alone won’t tell you if your company will necessarily succeed when for example there is a low conversion rate or low retention of customers. 

Sales performance metrics image

Qualitative approaches to tracking your team’s performance

Team

There’s more than just numbers to tracking sales rep performance. How effective are your sales team at communicating? Do they use a good sales method?  How productive are their meetings? Are they happy? Numbers alone can’t tell you this. 

Without good communication with customers, your team may not be reaching their potential and failing to meet the KPIs, so this is something that absolutely needs to be understood by management. Badly crafted emails, calls and meetings can be a major cause of problems within a company. An unhappy team will also struggle.

So, how can we improve and check these, and how can you do that without spending lots of time? We have you covered!

Regular Performance Reviews

Regular Performance Image

Check-in with your team members regularly, to see what they are struggling with and what they feel competent at. By keeping a regular eye on things, problems can be solved quickly by identifying problems and giving a voice to your employees.

Use these as opportunities to praise your staff as well, as this will make them happier to continue working and give them motivation. In addition, any negatives should be used as learning opportunities, for the whole team as well!

You can identify areas where staff need further training, and you can in turn use your team to teach each other. Have one member who is great at closing? Get them to help others who struggle. Are others better at efficient communication? Use them to share their tips!

Team Discussion Image

Track and Automate Sales Funnels

The numbers can give so much, but you need to see how your team approaches sales. What is necessary is to track how your sales funnel is followed.  

Funnel gives sales teams a step by step process to the sales approach. By creating an effective funnel, and seeing if your employees work with it, you can monitor how effective they are at sales techniques, and see how the process works. The funnel can be used in any business area, for sales, the end goal should be a purchase.  

To explain, for each step of the funnel, you can set clear steps for the team to achieve each part of the funnel process. Each interaction with a client can be in mind of this funnel stage, with specific requirements on the team member to follow in their engagement.  

Team members can confirm they have followed each step in the process from (for example) awareness to purchase. If there are difficulties in any particular step, then either consider giving constructive feedback to the member or consider modifying the funnel. 

How can you track this?  It is best to record interactions with clients, and meetings. We will come to that shortly. Additionally, it is worthwhile considering some automation. For example, Active Campaign automates sales processes, and tracks the interactions with clients. The sales team can control each step of the process, and you can observe what is taking place. This allows you to ensure the sales funnel is being followed and what sort of results are being achieved. 

Sales Funnel Stages Image

Tracking Cold Emails

If cold emails are not as effective as they can be, you will be missing your targets. How your team cold email potential customers is a cornerstone of sales and this needs to be measured. A good cold email should be the following:

  • Quick and to the point, no one wants to read lengthy emails;
  • Personalized: People want to feel it is made for them, so as not to look like spam;
  • Engaging: They need to draw the reader in.

Tracking Cold Emails Image

However, when you’re talking about sales, lots need to be sent out and to personally write hundreds of emails takes time. So what’s the solution? 

Provide a cold email software that allows for personalization, to ensure that emails provide the key information with a personal touch while streamlining the process through automation.  A good CRM software can help through automation of the process. Other software or sometimes the CRM, such as Hubspot can track your emails, so you can see how the team is conducting their cold emails. 

Tracking Cold Emails Image 2

These softwares, combined with KPIs, can allow you to see what sort of ROI you are getting. If you see how many emails are being sent out, can check them, and see what results are being made, you can track your team’s process, and good CRM software can do just that. 

Checking the Quality of Sales Calls

Checking the Quality of Sales Calls Image

Calls in addition to emails need to be of good quality. Personalized, efficient, and to the point as well, it’s essential to know if your team’s calls with potential clients are their best, that they communicate well in settings, and do all they can to close the sale.

While you can and should use software to help with scripts for calls, that are personalized and easy for the sales rep to follow, it’s essential to check how they are if you want to track their performance. 

Notiv is a software that can record any online meetings, whether they are between clients or staff, and unlike rival services which focus on transcribing whole meetings, Notiv can focus on the key facts from any meetings, so when you want to find what took place, it will be an easy and quick task. This way, you can observe what is taking place in meetings, to ensure that your team is doing their best. 

Conclusion 

There are many solutions you should consider to track your team performance. KPIs, metrics both provide clear goals and remind your team what to achieve. Provide funnels, have regular reviews with your staff, and focus on things outside the numbers too to keep an eye on progress. Cold call and cold email scripts help the team achieve better results as well. Last but not least, meeting recording software such as Notiv, can all help with tracking sales performance and checking up on meetings when you cannot be present. Sign up for a free trial, see how much time you can save, and keep track of your team’s sales approach.

An Ultimate Guide To Managing A Fast-growing Sales Team: 6 Expert Tips

sales call

Has your sales team grown thanks to success, but all of a sudden started to plateau, missing sales quotas and generally not performing as you want? Struggling to keep track of your team in general and losing vital information? Or are you worried that this will happen soon?

Keep reading this guide to managing a fast-growing sales team to prevent potential issues.

Why sales team management is vital

As your sales team grows rapidly, it can get more difficult to know how to manage them, leading to ineffective management. Missed quotas, high staff turnover and other problems can result when a team is poorly managed. When people don’t work productively, they are less efficient, and they then feel they are better off elsewhere.

It becomes a catch-22, as now the team is less productive, losing the productive members who feel overburdened, increasingly making it hard to manage, leading to worse performances. In addition, with a large sales team, it is hard to keep track of what each member is doing, how they interact with their customers, and how they approach their sales.

sales team

No matter what sort of team you manage, whether it’s internal or outsourced, remotely or offline, you can always benefit from learning some of the sales management best practices. This article will provide six steps on how to manage a sales team.

Step 1: Organize the processes for cold outreach

Cold outreach can be challenging, no doubt, and a vital part of any sales business, as it secures your first customers, as well as your new customers. When this isn’t organized properly, it will be harder to achieve, and your team will struggle to meet their quota requirements.

The average response rate to cold emails is about 1%, and the conversion rate has been dropping over time across the board. Make sure your team is doing proper market research, personalizing contact interactions, and when it comes to emails, make sure the team is writing quick and brief emails, sending follow-ups, and generally putting a bit of time into cold emails. This will improve the response rate significantly.

Analytics is also a useful tool to keep a track of responses and details of who is being reached out to, who responds, and who is converted. The approach can then be tweaked in line with your team and customer’s specific needs, for even greater success. Analytics will be mentioned a few times in this post!

Incorporate software into this process, to automate work while maintaining the ability to personalize your cold outreach. For example, QuickMail (which has a free version) can help streamline the cold emailing process through automation, and integrates with other apps with ease. This program still provides a good degree of customization to ensure your potential clients feel they are being paid attention to in their communications. When the cold outreach process is streamlined, the team will better approach the task, get better results and the customer will also have a much better experience at their end, in addition, boosting sales.

Tools for cold outreach

Step 2: Introduce a CRM system

Just like how analytics about cold outreach can help keep track of success, a CRM (customer relationship management) system can be really useful for sales team management. CRMs keep track of all the up to date important information about customers, every interaction, every request, every email, call and so on. It is all stored in one place, to help support the sales team in their interactions with customers by giving them all the vital information. 

Without a proper CRM, details are lost, information gets out of date, and sales have to ask repetitive questions, which results in difficulties when trying to build relationships with the customers. If this happens, the customers will simply leave.

There is a really wide range of CRM applications that are very easy to use and very accessible. Many CRMs can be free, such as HubSpot CRM for Sales Leaders, so there is little reason to not take advantage. What is important is to find what software best works for your team, and is compatible with anything else you are currently using.

CRM for sales team

Step 3: Set up rules for managing sales reps

Sales rep management requires rules to help get the best success rate.  Give your sales reps standardized rules and processes that will achieve the most. Without some standardization, the team will make mistakes and struggle to achieve the results you want them to!

For example, set up a “sales funnel”, with a range of steps on the way, which should be simple and easy to follow. Train the reps to internalize these steps, starting at introductions and ending in receiving the payment.

sales funnel

Apps, such as getresponse (which starts at 15 USD per month), can help with this, by providing a visualisation of the approach and automating the process. Whatever goal you have for your funnel, can be adapted. So if it’s sales, marketing, or whatever else, the funnel will visualize the entire process, helping you manage your team and for your team to get better results.

The step by step approach, whether we are thinking about work, studying, or day to day life, will always make tasks easier, clearer, and more achievable. For sales, it is just the same.

sales team management

Step 4: Set clear and understandable KPIs

When looking at how to manage a sales team, the use of KPIs, a key performance indicator, helps to keep track of the success of the company. There is no universal KPI standard; you need to set them in relation to your business, your goals, and how you wish to achieve success.

For example, if you want to achieve an increase in sales (which presumably you do if you are reading this article), you may define your KPI as to “increase sales by X%”, or “upsell by X%” or “increase response conversion by X%”. The KPI or KPIs need to be clear and understandable for your sales team, so they know what to focus on and to give them a sense of purpose. 

Software can interactively display these KPIs, and use statistics to ensure that no important data is lost and the KPIs are clear to the team and achievable. For example, Simplekpi displays the goals alongside other key information such as reports and analytics.

Sales team KPIs

By taking advantage of this type of software, your team will see the KPI, if they are reaching it, and what needs to be changed to succeed. Without making the KPIs clear and easy to understand and track, they won’t be effective motivations for the team.

Step 5: Prepare scripts for a sales call

We talked a bit about cold outreach before, and when it comes to calls it is very important to have a suitable script. A script will help make the process of making a days’ worth of calls more efficient, and then any curveball questions asked to the team member will be easier to answer, as they haven’t used all their brainpower creating an entire conversation.

Note: this doesn’t mean these calls should be impersonal, they require personalization, prior research about the client (this ties back to point 1 and the CRM), and leaving room for creativity. However, by following a script, it will make that outreach a bit easier and efficient for the sales reps.

There are software solutions that can help with this. The challenge of a script is to balance efficiency with the personalization that customers will want to hear. Software, for example, Stonly, can offer custom interactive scripts, displaying the history of the customer and what next for the caller to do.

Stonly software

This allows the caller to not get overwhelmed or lost with a written script, provides what is necessary for them to say to not overload on the customer, and generally streamlines the process.

Step 6: Record every call with a meeting management software

The final tip we will give is to oversee all meetings and conversations with clients. With a growing team, it’s impossible to observe everything at once, but you may want to ensure that your team is working to full capacity, aiming for the KPIs, using the funnel system and scripts, and generally doing their best. 

You can use meeting management software such as Notiv, to do all of this. Notiv can help organize information before, during, and after meetings. It can also transcribe all interactions, so you can monitor what has been said and check back for important information that has been exchanged. Sign up here for a free trial!

Notiv meeting

Conclusion

A good range of sales management strategies are important, but they can be difficult to manage. This is where sales team management software can come in. Notiv helps your team improve, keep track of information, and use it to improve both the team’s and client’s experience of interactions. Now you know a bit more about how to manage a sales team.

5 Practical Strategies That Will Increase Your Sales Team Productivity

Sales team productivity

Sales team plays a pivotal role in any enterprise’s success. If they are too busy with other tasks along with meeting sales objectives, it will likely cause sales to drop and decline in sales team productivity, hitting the company’s profitability. Forrester, a global market research company, conducted a study to analyze the activities of sales executives in more than 150 firms. They found that these sales execs were only spending 23% of their time selling, and 27% of their time involved in less productive activities, such as preparing expense reports. 

Reducing this time spent on internal activities would result in an increase in sales productivity. But focusing purely on sales improvement figures is only half the equation; sales representatives need to be supported through mentorship and effective coaching, as well as training for selling responsiveness and monitoring performance. 

So, how do you resolve issues your sales team is facing, while motivating them to effectively and sustainably increase sales? Here are five practical strategies for sales leaders to enhance their sales team productivity, morale, and efficiency.

tips for sales teams

5 Productivity Hacks for Your Sales Team

Build a strong team spirit and set a roadmap 

Every sales member wants to feel successful and a valued part of a wider team. The sales leaders can unite their salespeople around organizational goals, resulting in sales improvement.

  1. Promote collaboration and the exchange of best practices between your employees. Experienced executives guide their younger employees by giving tips on how to close more sales. Bringing value through collaboration is rewarding – play on the group effect: together, we are stronger.
  2. Treat your team members fairly and avoid favoritism or discrimination. As a sales leader, you should avoid arousing discouragement and demotivation. 

The sales heads are also responsible for setting up the strategic direction of your team. This involves in particular:

  1. Defining and clarifying objectives;
  2. Developing an action plan to achieve these objectives (short-medium-long term goals);
  3. Analysis of results;
  4. The implementation of corrective actions;
  5. A dynamic system of information transmission.

Additionally, it is the job of the sales leader to provide their team with the necessary tools to carry out their tasks: sales assistance, pipeline management, marketing alignment, dashboards and KPIs, just to name a few. These tools can change and improve your sales team productivity, as well as the way the team interacts with customers.

Amazing sales team

Value your team efforts and tailor rewards accordingly

Rewarding the progress of your salespeople is one of the best ideas to improve sales performance and team morale. It is a tried and true way to motivate each salesperson  to achieve their targets or even exceed them. 

When we talk about rewarding salespeople, we often think of financial incentives or bonuses. However, there are other types of rewards that you can offer that don’t always depend on the state of your company’s finances.

  1. Recognition: Through company wide emails, “salesperson of the month” notices on the bulletin board and so on, an organization can communicate how their company values the efforts of its salespeople. Put your best salespeople in the spotlight and motivate the rest of the team;
  2. Offer experiences: It can be a trip, a cultural outing, or a team dinner for top performers;
  3. Trainings and Conferences: You can send your best salesmen to attend conferences, lectures, talks, or trainings to learn new skills, make new connections, and step away from their daily routines to experience something new.
  4. Certificates or awards: Also a form of recognition, but something more tangible, awarding trophies, or certificates for top performing sales reps can be a powerful motivating force for sales teams.

Important note: Do not count only the increase in sales performance, but also highlight involvement, effort and customer satisfaction. If a team member delivered less than usual this month, it may be because they deepened certain relationships with clients, locking in greater returns in the future.

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Measure team performance to increase productivity

Much more than a simple tool for processing and managing customer relationships, CRM software is both useful for testing the effectiveness of marketing and  sales strategies, as well as for and evaluating your salespeople.

In addition to knowing each profile and the corresponding needs, sales executives must also systematically communicate with their prospects. As a place to store and utilize customer information to generate leads, CRM software can be extremely useful. 

CRM implementation

A CRM has the following advantages: 

  • Improved customer/prospective customer knowledge;
  • Automated digital prospecting set up;
  • Optimization of commercial performance;
  • Additional sales;
  • Customer acquisition costs reduction and time-saving;
  • Ease of exchange between your sales teams.

When you lead a team of salespeople, you can measure their performance with the help of a number of indicators such as:

  • Average sales value;
  • Sales productivity;
  • Costs per converted lead;
  • Customer satisfaction rate;
  • Market share by segment;
  • Repeat purchase rate;
  • Number of contracts signed;
  • Current business valuation / target ratio;
  • Ratio of deals concluded / lost market.

CRMs also automate routine manual tasks such as data entry, so sales reps can focus on their main mission — selling. It also offers managers real-time insights on the progress of individual team members, using the centralized platform to document the sales process and keep the team on the right track.

Record sales calls and meetings to improve your team’s performance

Especially since the start of the pandemic, companies are having more sales calls and meetings than ever. For the sales team, these calls and meetings can be valuable sources of information, helping to better meet customers’ needs and close more deals.

We recommend using Notiv – an AI-based meeting note taker that records and transcribes all details related to your prospects, and automatically identifies key moments, so you can utilize important details with ease. When speaking to customers, salespeople are dealing with so many things as the conversation proceeds – asking relevant questions, discovering their needs and concerns, and explaining the benefits of a product/service. Notiv preserves all calls/meetings, so you don’t have to ask the client to repeat the information. You can replay these recordings to take note of key information whenever you want, and prepare relevant offers for prospects.

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Effective team coaching via internal meetings

Sales coaching is not a task performed once or twice a year, it should be done on a regular basis. These meetings are important touch points for the sales team, and managers can use this time to teach something new, boost the team’s commitment, review performance, discuss important issues, and share key insights. Unfortunately, sales executives come out of these meetings with discussed action items that are easily forgotten, as no one was taking any notes. This makes their implementation unlikely. 

Notiv seamlessly syncs with several video conferencing tools and even transcribes recorded videos, helping your team work with what was discussed. Notiv’s smart AI highlights key phrases, lets you create actions and tasks, and then distribute them internally. Additionally, these records can be turned into a digital document for collaboration, where teams can follow the guidelines and refer to any tips when communicating with their prospects. 

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Conclusion

This article offered practical advice on how to improve sales performance and strengthen a team’s skills over the long term.

Companies can beat the competition if they invest in promoting the productivity of their sales teams as much as they invest to improve their production process. By embracing technology such as the use of CRM for leads intelligence and using Notiv to document all information shared during meetings or calls, you can definitely improve your team productivity and improve your margins. That’s the wonderful thing about Notiv – it empowers salespeople to do their jobs better. 

Want to know what Notiv can do for you? Sign up for a free trial and see it in action!

Pros and Cons of Working from Home

working from home

Over the past year, our team at Notiv has upheld our ‘remote-first’ motto and these are some of the lessons we learned, including the working from home pros and cons for employers. A remote team, sometimes called a virtual team, can be lauded as the future of the workplace.

One of the lessons we learnt from the Deloitte Millennial Survey is that as technology advances with 4.0 technology, artificial intelligence and increasing globalization, the workforce and how we work will inevitably change to adapt. In this sense, the first step to managing remote teams is adopting and embracing flexibility.

However, the terms ‘remote’ and ‘virtual’ can be used interchangeably but they differ in a few ways.  A Virtual Team comprises of members possessing a varied set of skills who work on a specific set of issues. They may work for different managers and are not usually geographically co-located. This factor though may vary from company to company. Their work is characterized by the ‘dotted line’ reporting and once their work is done or the issue is resolved, they “disperse”.

Whereas Remote teams work for a manager directly but they are not co-located, nor are they bounded by skill. An example of a remote team is a field-based sales team, whereas an example of a virtual team is a remote-first start-up like Notiv!

Managing remote teams

Notiv has always been a ‘remote-first’ team, we first launched in 2018 with a four-person team based out of the United States and Australia. Today, our team is based across the United States, Australia, South-East Asia and India! But it’s not just us. The remote-first culture is rapidly gaining traction in the workplace, with many new businesses opting for remote teams. However, remote team management is a crucial consideration. So, let’s dig in!

Working from home pros and cons for employers?

For one, you will need to balance a fine line between flexibility and adhering to ground rules. Managing remote teams includes taking the following into account:

Dealing with Multiculturalism

A remote team does not have a specific workplace or work time. This means there may not be any borders to your work-space. In dealing with workers from multiple cultures or countries employers, you will need to be aware of culture-specific practices, holidays and other sensitivities. Maintaining international holidays will help maintain your workflow. Encouraging team members to respect diversity and embrace multiculturalism will help bond remote teams effectively. Once you have defined the culture of your company, then you will need to protect it.

Communication

It is important to communicate with your team effectively given they won’t have the facility to ask for suggestions in the same place. Forbes conducted a survey where 97% of people believed that a lack of proper communication hampers the workforce. Therefore, building strong communication between your team is important. To improve the productivity of your conversations, some simple tips include, setting and agenda ahead of time, using the parking lot method and leveraging the right tools to maximize the value from your time spent in a meeting.

Boosting Employee Morale

While the best way to improve employee retention is to consider your hiring process, boosting employee morale will also drive the productivity of the workforce. Giving positive feedback, training and keeping communication open were core tenants in the Deloitte Millennial Survey that proved to boost employee’s morale, retention and the overall success of the company.

working from home

Pros and cons of a fully remote team

According to the Global Leadership Summit, by 2020, it is expected that at least 34% of a company’s full-time workforce will be working remotely.

Pros

Access to a large talent base

Remote teams comprise of talent from across the world. This leads to getting the best talents and skills, along with diversity and the freshest of ideas and creativity.

A motivated workforce

A survey found that 53% of people preferred to work from home than in a traditional office space. Not only is it a more comfortable space, employees are better able to manage their tasks and time. Particularly for employees that require flexible work arrangements due to caregiver or health issues, this can be a highly motivating factor, leading to happier employees and higher productivity.

Reduced expenses

Rent, office supplies and other welfare costs are not applicable to remote teams that can save business significant amounts each year. Apart from money, remote employees also save time and energy that is otherwise spent on travel or commute.

Cons

Distractions

One of the most common working remotely challenges that employees may face is the dreaded trap of procrastination. While working from home may be comfortable, it comes with its fair share of distractions. Having distractions or employees who are unable to self-manage tasks can adversely affect work productivity. While working from home may not be for everyone, employers and potential remote workers can make better informed choices by understandings the pros and cons of working from home before the hiring stage.

Lack of Communication

Communication issues can occur even when you’re in the same room. Therefore, given that remote teams don’t work in the same space, department or timezone, communication issues must be well managed for. However, with video conferencing tool, online chat tools and other meetings tools, like Notiv, the idea of an augmented brain across a remote team is very possible. The important point to remember here is that any team needs a way to discuss and share information easily, and a culture that supports collaboration.

Over this year, we found that implementing proper management systems across the entire team helped us improve our communications, documentation and improved our project outcomes. Effective remote team working is as simple or complicated as balancing the various pros and cons effectively and specifically for your team.

With the future moving towards technology-based solutions, this concept can be a massive success if enough technological advancements are involved in the daily operations of the various processes.

If you found our tips interesting, useful or if you have any additional tips to turn any remote-first company working on this concept into a truly global entity, let us know! Tweet us your tips!

How to Excel at Work: Tools and Tips to Becoming Irreplaceable

excel at work

Joining any workplace is a scary and alien experience. Will my boss like me? Will I hate my job? Will I excel at work? Can I handle the pressure? There can be so many things to worry about. Knowing this, it’s no wonder people jump from job to job. In fact, it is said people change jobs at least 12 times in their career.

Interestingly, a millennial survey by Deloitte states millennials are the most likely to switch jobs frequently. But, this doesn’t come voluntarily. Several studies show people are forced to look for new jobs due to issues such as poor performance or misalignment between values. With this in mind it got us wondering, how do you become irreplaceable and excel at work?

What do bosses think?

“People who are genuinely enjoying their job and who are inspired to continue to be better every day. These are the people who actively help others grow, they share their learnings (including their mistakes), and they are incredibly dependable. These people, while they use the word “we” rather than “I”, they themselves still stand out as individuals.” – Becci Reid, Founder at Notiv.

Putting it into practice

Be a half-full kinda person

Every office has one. That one employee who is constantly happy and positive (even if they’re crying on the inside). Love ’em or hate ’em, you can’t deny that their positivity is contagious. That’s what every company needs. Entrepreneurship is difficult because of its up and down nature. In times of stress, that positive attitude can help motivate and inspire teams to persevere. Leaders also tend to trust these types of people with tasks because they appear confident in their abilities. These are the individuals that truly excel at work.

But how do you do this? It’s not as easy as flipping a switch. Luckily, there are some practices that you can adopt to ‘fake it till you make it’. These include avoiding the blame game, providing support to others, taking an interest in your colleagues and being grateful for and respecting your team. After all, you’re all there for a reason.

Commit yourself

Deadlines can be tough, especially when it comes to choosing between quitting time and overtime. However, the willingness to go above and beyond shows your boss that you’re passionate about what you’re doing. Do the due diligence so that you too can rest easy, knowing that you’ve done your best. Dedicate yourself to high standards, but don’t compare yourself to others. This also involves knowing what you can and cannot do. It can be easy to say “yes” to everything, but over committing yourself is the best way to fall short.

“There’s always gonna be another mountain, you’re always gonna wanna make it move”

While the process is important, in the end, we all want results. Chase those results by bringing new ideas to the table. Everyone experiences road blocks, even if it’s just writer’s block. But before you admit defeat or run to your boss, look at what you can do to unblock yourself. Come up with potential solutions and then see if your boss can help you achieve them.‍

Diversify

While you don’t want to over commit yourself or overstep boundaries, it’s always a good idea to try to be involved in a variety of things at work. Instead, try offering your colleagues help or expertise. It will not only help you build strong relationships outside of your immediate team, but it’ll give you exposure. These opportunities to network are especially crucial if you work in a large organization.

Most of us are skilled, but it’s only the ones who showcase their skills who get noticed. Just don’t volunteer for something that you can’t do, and if you suddenly realize that you can’t handle your tasks, bow out early.

Sharing is caring, but also learning

As the workforce changes, employers also look for different things in their employees. Lifelong learning is important for your career and mental health. The good thing is that everyone has something to learn and something to impart. That’s the true mark of teamwork. Take the time to talk to your colleagues, bosses and even trainees. You never know what experiences and knowledge someone might have until you start to share.

Aim to make other lives easier

Let’s go back to the basics. Why would your employer keep you around? Probably because you make their lives better, or easier. Surveys have shown that top performers understand their leadership’s shifting priorities and adapt to help drive the end goals. Of course, this means that employers will need to communicate these end goals, but building trust and credibility is a good place for an employee to start. While you should always stand up for your rights, it’s important to nix bad habits like, shifting blame, becoming overly emotional, being apathetic or embracing the solitary lone-wolf life.

No matter what your role is, everyone can strive to excel at work and become irreplaceable to their company, colleagues and their clients. Be invaluable to anyone who spends time with you, because you’re giving up just as much of your time. An invaluable boss can make a world of difference in an employee’s work life and considering that we spend most of our time at work, you could even change lives.‍

Need extra resources to help you excel at work? Check out these hacks to be more productive at your workplace!

How to Excel at Work

If you need some tools to help you be more effective, check out Notiv!

Notiv helps you capture every insight and communicate outcomes clearly. With one click, record, revisit and share your meetings. By recording your meetings and transcribing them to highlight important moments, you can stay engaged in your meeting conversations and drive better outcomes for your clients.

To learn more about our product, download the app now for free on iOS or Android.

Employee Retention for Startups: Ultimate Guide to Retaining an Amazing Team

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Workers in the United States have a strong tendency to move around quickly, and at a large cost to employers. In 2016, 47% of workers admitted to replacing more than 20% of their employees throughout one calendar year and reports determined millennial turnover cost companies $30.5 billion collectively each year. Low employee retention rates in the United States are not only costly to businesses but also heavily influence the way a company operates and it is perceived by the public long term.

guide to retaining

Source: Stats and Remedies For Employee Turnover In The Middle East

Why Does Employee Retention Matter?

Cost efficiency

Employee retention is notably important to employers conceivably due to its ability to cut costs. The numbers speak for themselves and essentially it will cost an employer twice the amount of one employee’s salary to hire and train a replacement. In addition, the cost of hiring isn’t limited to the salary, but it also drains human resources to headhunt, interview, onboard, and finally train an employee for a new position.

Consistency

As it is more expensive to hire, onboard and train a new employee, it causes consistency within a company to falter. New hires usually entail months of training within their new roles, getting accustomed to company culture and becoming comfortable in their new positions. These employees could also eventually end up training newer hires which will further impact how the company operates.

While it takes time to learn the culture of a new company, it is another thing entirely to promote the culture accurately. Like a game of telephone, as the process of passing something on gets longer, the more it changes. So, retaining employees for as long as possible is the safest way to ensure a company’s brand is intact and being represented properly.

Employee retantion

How do You Create Employee Retention?

Hiring

The easiest way to prevent employees from wanting to leave a company is to improve the process at the source: who companies hire and how. Focusing on applicants who are excited about the prospective job and seem genuinely interested in being a part of the company is an important objective when conducting interviews because those applicants are the ones who are more likely to want to stay with the business long-term.

But how they are hired is also essential. A Gallup study found only 12% of employees found their company onboarding process good. The lack of a good onboarding process has been reported to result in feelings of disengagement within 3 months, which prevents the formation of an emotional bond between the employee and the company — this connection can make or break retention. A positive hiring environment is beneficial to all parties involved; the employer knows they will have a committed employee and the employee will be enthusiastic about their work environment.

Company Culture

New hires want to know they will be happy in their workplace and to know the organization stands for the same ideals they do. Studies have shown millennials are 25 times more likely to stay long-term at a workplace they believe in, which in turn minimizes company turnover costs. For example, 71% of millennials who strongly believe they know what their organization stands for and what makes it different from its competitors say they plan to be with their company for at least one year. This suggests a positive company culture in which employees find valuable aids employee retention for at least the first year.

Training and Advancement

In any industry, people want the opportunity for advancement within their career. The intelligent manager will invest time in supporting their employees to realize their short-term and long-term goals. For example, creating the opportunity to attend workshops, up-skilling courses or relevant industry events. Failure could be perceived as a lack of care for their employees, which can dampen morale.

Communication

A communicative and collaborative process, structured to inform, empower and recognize employees and their work contributions are crucial. Communication that is top-down, bottom-up and also lateral engages the community and provides management with a shared insight into the ‘health’ of the business.

In combination, these elements can provide businesses with a retention strategy built from a genuine commitment to serving your customers and employees.

amazing team

It’s your turn

It’s pretty clear many business owners have trouble retaining their employees. Having more insight into how to empower your employees and keep them will allow you to reach lengths in your business you never thought were possible. However, unless you actually adopt these tips mentioned above, you will fall into the 47% of business owners who need to replace their employees in their first year.