Thanks to everyone who came out last night to Asheville Hair Design for our free seminar, Do You Get What You Pay For?
The focus of the evening was on hiring and managing employees, HR practices, and living wages. Our esteemed panelists from Roots Organic Gourmet, Altamont Brewing, and Just Economics were guided through some smart questions by the fabulous Kimberly Hunter, one of our Business Developers. Patrick Doran, who works with our small business loans joined the panel as well.
Here’s a sampling of some of the knowledge that was shared:
When to hire. How do you know when you should hire a newemployee? When you have to! Don’t hire on speculation or projections because you may end up having to let them go if you can’t sustain that growth. Only hire when you absolutely need to.
What to look for. All of our panelists agreed that the most important traits to look for when hiring new employees are enthusiasm and trustworthiness. Enthusiasm is something that can’t be trained, but it will go a long way toward building your brand and creating a great workplace culture. And you must be able to trust your employees to do the right thing when it comes to decision-making, customer service, and communication – or you’ll always be putting out fires.
How much to pay. While pay rates vary by industry and job title, overall, paying a higher or living wage results in better employee retention, loyalty, and ambition. If you invest in your employees, they will invest in your business with fresh ideas for problem solving and growth.
Remember your past. Now that you’re the boss, don’t forget what it was like to be an employee. Remember those times when you went the extra mile and didn’t get any additional compensation – or even a “thank you”? Put that experience to use and make it a practice to express your gratitude to your employees through words, deeds, and good old fashioned cash.
We love it when smart folks get together to share their business wisdom! Thanks again to our hosts, panelists, and sponsors: Tricia, Mark, Gordon, Ben, Fletcher, Lauren, TD Bank, and the SBA.
