Explosive Revenues:The Keys to Profitability

Garrett Kramer @garrettdkramer

Linkedin.com/garrettdkramer

Who am I?

Who am I?

The demographics

• Hourly employee turnover rates historically average 70-120% per year

• 40% of hourly employees are under 25 years old

• 33% are 25-44

• 28% are 45 or over

• 80% work within a 5 mile radius to their house

• 56% consider their jobs a FT career

• 74% prefer to work 30 hrs or less per week

• Over 50% apply for 3 or more jobs at one time

http://www.tlnt.com/2010/10/29/how-to-find-and-recruit-the-best-hourly-employees/

What WE THINK they want...

1. Good Wages2. Job Security3. Growth opportunities4. Good working conditions5. Interesting work6. Personal loyalty to workers7. Tactful discipline8. Appreciation of work done9. Sympathetic help with personal problems10. Feeling “In” on things

http://www.selfgrowth.com/articles/Dunn110.html

What THEY really want…

1. Appreciation for Work done2. Feeling “In” on things3. Sympathetic help on personal problems4. Job security5. Good wages6. Interesting work7. Growth opportunities8. Personal loyalty to workers9. Good working coditions10. Tactful discipline

http://www.selfgrowth.com/articles/Dunn110.html

What they want at work?

• In the Workplace– Purpose

– Goals

– Empowerment

– Belief

– Empathy

– Understanding

– Thanks

– Recognition

http://www.inc.com/guides/2010/08/10-things-employees-want.htmlhttp://www.inc.com/geoffrey-james/10-things-employees-want-more-than-a-raise.htmlhttp://www.inc.com/what-your-employees-really-want.htmlhttp://www.tlnt.com/2010/10/29/how-to-find-and-recruit-the-best-hourly-employees/

But wait…

What about Explosive Revenues?

4 Things are Key

• Know your Identity and revel in it

• Focus on what your Customers buy

• Use the right tools & technology to get things done

• Empower and engage your employees

Know your Identity• Be the best at what you do• Stay focused in your niche• Market and promote it

Focus on what your customers buy• Sell what people buy from you

• Push what your customers actually buy from you

• Market and promote what they actually buy

Use the RIGHT Tools & Technology to get things

done

• There is great stuff designed to help you!

• Use Google and check a few out!

• Learn to do it or delegate it

Finding

That HAS to be a better way

• How do you

– Source new candidates

– Receive new resumes/applications

– Filter through resumes/applications/applicants

– Ensure those candidates are the BEST for YOU

– Handle new employee on-boarding/paperwork

• Do you

– Know what you are looking for

– Know how to spot them

Hiring

What to know

• Make it easy for the best people to find your opening

• Make it easy to apply

• Allow after hours applicants & interviews

• 24 hr job hotline or solution

– Increase high quality applicants by 30-50%

• Become a Magnet

• Find proactive candidates

http://www.workforceinstitute.org/wp-content/uploads/2008/06/kleiman-recruit-the-best-hourly-06.pdf

There HAS to be a better way

A Story…

Scheduling & Attendance

Scheduling & Attendance

There HAS to be a better way

Paying

Empower AND Engage your employees

• Appreciate them• Give them purpose• Give them goals• Show empathy in ALL situations

Employee Engagement

• Employee engagement is the emotional commitment the employee has to the organization and its goals.

• Engagement promotes

• “Customer who had the best experiences spend 140% more compared to those who had the poorest past experience”

– http://blogs.hbr.org/2014/08/the-value-of-customer-experience-quantified/

Employee Engagement

http://www.forbes.com/sites/kevinkruse/2012/09/04/why-employee-engagement/3/

Disengaged Employees =

• Lower productivity– Companies with high levels of employee engagement

improved 19.2% in operating income while companies with low levels of employee engagement declined 32.7% over the study period. (Source: The ISR Employee Engagement Report. Towers Perrin-ISR)

• Higher Turnover – Employees with lower engagement are 4x more

likely to leave their jobs than those who are highly engaged (Source:Driving performance and retention through employee engagement. Corporate Leadership Council)

http://www.forbes.com/sites/kevinkruse/2012/09/04/why-employee-engagement/3/

Disengaged Employees =

• Lower ROI

• Lower Revenue– A study of 64 organizations revealed that

organizations with engaged employees have 2 times the Annual Net Income of organizations whose employees are disengaged (Source: The Impact of Employee Engagement. Kenexa)

• Lower Profit

http://www.forbes.com/sites/kevinkruse/2012/09/04/why-employee-engagement/3/

Engaged Employees Lead to…

• Better service, quality, and productivity, which leads to…

• Higher customer satisfaction, which leads to…

• Increased sales (repeat business and referrals) which leads to…

• Higher levels of profit, which leads too… (6% higher Net Profit Margins)

• Higher shareholder returns (7 times higher)– A study conducted across 39 organizations indicates

that orgs with highly engaged employees achieve 7 times greater 5-year total shareholder return (TSR) that orgs whose employees are less engaged (Source: The Impact of Employee Engagement. Kenexa)

http://www.forbes.com/sites/kevinkruse/2012/06/22/employee-engagement-what-and-why/

A Means, Not an End

• It will STILL take work

• It will STILL take effort

• It WILL get better

• You WILL see results

Questions?

THANK YOU!!!