Nick said, “Bob, we had never offered a person a job with our company before we did a complete and comprehensive background, criminal, drug, and credit check on the candidate. We have a minimal amount of turnover with our firm because we treat the people with the respect that they deserve. We pay every employee a fair salary, at or even above the market for their position. We bonus everyone in the company from the company’s profits. My partner and I believe that the way we make money with our business is to hire the best people in the area, treat them with respect, give them the tools to do their job, provide them an excellent environment to work in and compensate them fairly.
“We do a performance review with all employees in the company every January and July. We share with them what they are doing right and where they may need to improve. The review times in this firm are easy to deal with because we employ the best people. Everyone loves working here and respects their job. We have not have had an employee leave the company in two and a half years. We had a great CFO six months ago, but he was in a horrible car accident and did not make it. The position has been open since then because we have not been able to find the right person. This hiring system that we use has worked for us very successfully for the 30 years, and we are not going to change it now.”
Ever since I worked for these two gentlemen, I have tried to model their corporate culture, hiring practices, and business philosophy with every company where I have either turned around the company as the President/CEO, or acted as a turnaround consultant.
The employees in this company were one big team supporting each other to make the business very profitable. This company with its group of employees was like a “Dream Team” case study of a successful business. I believe the reason the company was so successful was that the two owners made the hiring process the most important function that they were responsible for accomplishing.
I worked for this company for eight years as the COO/CFO. The only reason that I am not still working for the organization today is that they sold the business. Even when they sold the company, the two owners were very fair and distributed a considerable share of the proceeds from the sale to the employees.
If you treat your employees like these two owners, your business will be a success too!
I’m Bob Curry, CEO Business Coach, and Turnaround Specialist. I just published my first book available on Amazon.com. This has been an excerpt from this book, From Red to Black, A Business Turnaround – The Matter of ABC Computer Distributor, which should be on sale shortly..