From Good to Great by Jim Collins is the book which I am reading now. The focus is on what has distinguished truly great companies and their CEOs from other companies. One element of having a great company is having the right people ‘on the bus’. And not only having the right people on board but having them in the right seats is critical to distinguishing a great company from a good one. The focus of this book is on large multi million or billion dollar corporations - very different from the micro shop that I run. However there are many points which I think translate to all size organizations:
- Hire staff at all levels who are passionate about what the company does or provides
- The right people will be self motivated. (however management has to work to ensure that they do not demotivate these individuals).
- Don’t settle for just anybody when looking to hire. It’s better to wait than to settle.
- When a company is in time of transition, get the right people on the bus and the right people off the bus before determining the direction.
- If it seems like you don’t have a fit with an employee, first determine if it’s the role you have assigned to that individual before ending the relationship.
- If it is not a good fit, act… let everyone move on with their lives. (a tough one)
What Jim Collins does not discuss but I think is connected is retention. When you have the right people, what will you do to retain those individuals? How do their life events factor into your retention plan? Do you work with staff to reduce hours to a part-time schedule; create a flexible schedule, etc?...