A heavy focus on return on effort (ROE) in your staffing business is crucial for improving job satisfaction, reducing churn and ultimately making your business more successful.
Maximising ROE is perhaps the most important thing for you to focus on. Your people are at the root of everything in your organisation, so their happiness can be instrumental or detrimental to your success.
We are fortunate enough to work in an industry where most people have hard-wired motivation, they already work very hard. How much harder can they work? Small incremental gains in effort will not lead to exponential growth in results. Instead, helping people to use their time more efficiently so they can be more effective and productive allows a business to scale faster.
As a staffing leader, it’s your responsibility to look out for the health and well-being of your teams. There is only so much effort you can reasonably expect your people to put into a single day or week, and simply pressuring them to do more only leads to unhappy people and employee burning-out.
Now more than ever, putting people’s mental health front and centre and ensuring that we do everything possible to help them succeed is the easiest way to help our people create an incredible work/life balance. If they can deliver and earn more from doing the same or less work they will be happier, more productive and have more rewarding careers with our companies. And happy, motivated employees are far less likely to seek opportunities elsewhere.
Improving the retention of high-performing employees is perhaps the easiest way to achieve highly scalable growth.
RETURN ON EFFORT From Incremental To Exponential – How can I help my employees to have the most rewarding career possible with my business?
- Cultivated Potential
It’s vital to your businesses success that you are providing everyone in your team with the tools and support that they need to live up to their full potential.
- Impactful Coaching
Recognising your ability to impact the effectiveness and efficiency of your staff is a crucial part of achieving your growth objectives.
- Absolute Accountability
As a staffing leader, it’s your responsibility to ensure that everyone clearly understands what’s required from them and how to achieve it so that they are ultimately accountable for their contribution to the company’s objectives.
So… what does this mean?
To ensure that every person in your staffing business achieves to the best of their ability you must understand their strengths and weaknesses and show them how to continuously improve so that they are always getting better and becoming more successful.
As a staffing leader, creating a playbook for success that accurately depicts what great looks like for your team members is a great way to create a repeatable, scalable process for your business.
By inspecting the data behind your individual recruiter activity breakdown, you can unlock the secret into what makes your top performer so successful. How many jobs are they working? How many CVs did they submit? How many interviews are they facilitating? And so on, until you find your perfect ratio of activity to money, which can then be shared with the rest of the team so that they can replicate the technique.
This creates a playbook for success that can be leveraged by your team to reach their full potential. Thus cultivating their potential through delivering proactive information that helps them to accomplish their individual goals.
This applies as much to longer-standing employees as it does to new recruits. The staff turnover rate and the failure rate for new hires in staffing is much higher than it should be. Helping employees continuously improve and maximise their potential reduces churn, improves retention and engagement and ultimately allows the company to grow at a faster rate.
“Staff churn is the unspoken KPI in recruitment and the greatest metaphor for performance. It tells you so much about the business. It captures your ability to hire, onboard, train and develop the right people for excellence. It became a fundamental part of our manager bonuses at SThree.”Russel Clements
cube19’s CEO guide
To ensure that your leaders are as effective as possible and use their time in a highly efficient manner you should ensure they never have to waste time gathering data and can instead spend much more time providing real-time impactful and meaningful coaching to help their team members achieve exponential growth.
Great leaders are in short supply. This can apply to billing managers who have to deliver against their own target as well as a team target, and for companies whose growth is being held back because of inexperienced or ineffective managers.
Soliant’s leadership team replaced a multitude of labour intensive weekly reports for a business intelligence and analytics platform that can handle the demands and complexity that unique processes and reporting requirements create. This impactful coaching ensures that their colleagues can find the data and insights easy to use, understand and action.
“I noticed that team leaders were using their reports minimally and only really to appease the demands of their own leaders. Now we’re moving with cube19’s automated real-time insights and don’t need to wait for reports to be generated. cube19 brings together all of our key data into one dashboard and individualizes the views so that everyone in the business, regardless of role, has access to relevant data at all times.”Ron Washburn
Recruitment is a people business. It’s your responsibility as a leader to ensure that your staff are fulfilled and happy in their role. For the most part, this means that they will deliver a higher standard of work and in turn make the business more profitable and more successful.
To be certain that everyone in your organisation is fully engaged you must ensure that everyone clearly understands what’s required from them and how to achieve it so that they are ultimately accountable for their contribution to the company’s objectives in real-time.
“Everybody at all levels of the business has a clear and simple view of the activities they are responsible for, from a recruiter checking their own activity & pipeline to an MD reviewing the same items for an entire region.”Dan Martin, Head of Systems
In order to ensure absolute accountability from everyone in your organisation, you must create Total Vertical Transparency. Meaning that regardless of job role or position, expectations are clarified and the tools to achieve these are accessible. So that should an issue arise, as a leader, you know that you did everything you possibly could to encourage success.
“cube19 has been instrumental in our growth to date. The clarity across the business around expectations for performance combined with the ability to analyse our outputs, lets us spend our time focussing on growth. It is an essential tool.”Tim Barber
Ask yourself, how confident are you that:
- Your team is currently operating at their maximum potential?
- Your leaders are as effective and efficient as they can be?
- Performance accountability is being demonstrated by all team members in your business?
If your answer to any of these is anything other than “Extremely Confident”, then it’s definitely time to consider making a change to maximise return on effort in your staffing business.
After all, in an industry where high effort is a given (for the most part), return on effort directly impacts profitability, motivation, and ultimately the health of your recruitment business. So as a staffing leader, wouldn’t you like to maximise it to its full potential?
If you’d like to find out more about the tools available to help maximise return on effort, get in touch.