Categories
business career entrepreneur success

Determining Causes of Talent Departure

Causes of talent departure

You might think you know why employees have left your company in the past, based on the reasons they gave you for leaving at the time. But do you really know the cause of why talented employees leave? Some of these reasons are probably highly specific to your organization or department. To prevent good talent from leaving, it’s vital to discover what the reasons are.

Employees may provide one of many possible reasons for their departures. They might have personal commitments that have little to do with the job itself. Or they may leave because of external, industry- specific pressures, or because of internal problems with your department.

Personal

Sometimes the reasons employees leave are personal and have little to do with your organization. They might have family obligations that conflict with their jobs or transportation problems, or simply want to change careers.

External

Some reasons are external ones. New employees could receive counter-offers from their former employers, for example. Or other companies may offer your employees jobs with higher salaries or more career advancement opportunities.

Internal

A set of factors associated with your organization could make employees leave. They might dislike the work environment in your organization or find the work they’re doing stressful.

They may have problems with their supervisors or working hours, feel unappreciated, or feel that they’re not fairly rewarded for their contributions. They may also feel they’re not allowed enough independence or flexibility in their day-to-day work.

Read more on Medium.com

Categories
business career entrepreneur success

Identifying Risk through Brainstorming

One of the most common methods of identifying risks is brainstorming. Remember that brainstorming is an effective method to use when you want to establish an open dialog and stimulate fresh ideas.

Preparing for your brainstorming session

Despite its benefits, there are several drawbacks associated with brainstorming. Participants may be unaware of the purpose of the session. Or they may focus on issues that are unrelated to the risk. These problems, however, can be avoided by using two guidelines for preparing for your brainstorming session. First, define the scope of the session. And second, adapt the session for risk identification.

The first guideline when preparing for your brainstorming session is to define the scope of the session. One way of achieving this is by using existing documentation and historical data to provide a context for your project. There are several main sources of information you can use:

The project management plan can provide an insight into project elements such as budget, objectives, and schedule.

The project scope statement describes the boundaries or deliverables expected from your project. Organizational process assets include plans, procedures, historical information, schedules, and lessons learned from previous projects that can influence your current goal or project.

The next guideline is to adapt the brainstorming session for risk identification. Sometimes participants may focus on indicators of risks, rather than risks themselves. You can overcome this difficulty by using risk metalanguage, a format that helps to separate risks from their causes and effects. It takes the following form: Because of “cause,” “risk” might occur, which could lead to “effects.” For instance, because of the increase in currency exchange rates, import costs may increase, reducing the organization’s profit margin.

Read more on Medium.com

Categories
business career entrepreneur success

The Solution Selling Process

Types of customer needs

There are two types of sales situations, each requiring a different sales approach:

  • expressed needs — Customers have defined their needs and are searching for suppliers that can fulfill those needs.
  • unexpressed needs — Customers are either unaware of their needs, or are ignoring those needs because they don’t know how to solve them.

Selling to meet expressed needs

When customers with expressed needs approach you, you can follow a five step solution selling process:

  1. assess the opportunity,
  2. select a competitive strategy,
  3. diagnose the need,
  4. present your solution, and
  5. reach an agreement.

Read more on Medium.com

Categories
business career entrepreneur success

Preparing for the Meeting Follow-up

There are several steps you can take to ensure your business meetings are a success. You need to circulate all the pertinent information to the meeting participants ahead of time, and prepare the room before the meeting. In addition, to perfect your meeting process, you need to plan for follow-up.

This can be at least partially prepared prior to your meeting. To ensure your follow-up activities are effective, you can take the following actions prior to the meeting:

  • prepare an evaluation form,
  • make a list of names and addresses of attendees,
  • brief the meeting’s secretary, and
  • create an attendance sheet.

Prepare an evaluation form

Effective meetings occur when leaders and participants work to find a better way to get the job done. By providing the participants with an evaluation form, you will receive valuable information.

By preparing this form in advance, you will be able to get instant feedback from your attendees. As they fill out the forms, attendees will still have details about the meeting fresh in their minds, so they will be able to recall the events of your meeting and give an informative evaluation.

Read more on Medium.com