In This Episode
How does delaying on dealing with bad employees harm your business? There have been lots of stories in the news lately about some bad employees (Kevin Spacey or Harvey Weinstein anyone?). Chances are you have some too. Maybe they aren’t sexually assaulting people, but there are lots of things bad employees can do to harm your business and it’s up to you to do something about it. We spend a lot of time talking with our coaching clients about bad employees and why it’s best to cut ties sooner vs. later.
How do you figure out what to give your team in terms of bonuses for the year? We have a client who for the first time last year gave their entire team Christmas bonuses. Now it’s become expected. But it’s the owners’ fault since they didn’t tell the team why they were getting the bonuses. We are big fans of putting together a pool of money that shares the profits of the company in the form of discretionary bonuses given out by the owners and key managers.
How do you hire somebody one of your new employees referred when that employee is subject to a non-solicitation by a former employer? One of our clients recently had this situation and when attorneys get involved, it never ends in a win-win situation for anyone.
How do you run a business when you don’t know business? Especially the numbers? Most folks start or get into a business because they know and/or like the products or services. Then they learn the other “stuff” of business. At some point, usually after a couple of years, the owner realizes that there’s more to this stuff than most people (them included) realize.
People, Companies and Resources We Mentioned in the Show
Kevin Spacey (http://www.bbc.com/news/entertainment-arts-41829484)
House of Cards (http://www.imdb.com/title/tt1856010/)
Harvey Weinstein (https://en.m.wikipedia.org/wiki/Harvey_Weinstein)
Jim Collins author of Good to Great (http://www.jimcollins.com/article_topics/articles/good-to-great.html)
Mr. Potter from It’s a Wonderful Life (https://en.m.wikipedia.org/wiki/Mr._Potter)
Holy War St. Ignatius vs. St. Ed’s (http://www.cleveland.com/hssports/blog/index.ssf/2017/10/st_ignatius_reclaims_no_1_spot.html)
The post How do I deal with bad employees and other how questions? appeared first on Maximum Value Partners.
Podcast: Play in new window | Download