Advisors often ask, "How can I get the most out of my direct reports?" It's not always easy to do. However, great owners and managers do have common traits and tactics that ultimately separate successful businesses from not-so-successful organizations. Here are some tips on creating super staff members.
1. Business ownership. The more associates are tied to the bottom-line success of an organization, the better. Even if these individuals do not hold shares of the entity, they can still be rewarded extra if the organization or even department hit their goals. Tying in compensation leads to new ideas, increased loyalty and a bigger commitment to the firm's overall success.
2. Clear objectives. Have a plan for what each individual should achieve in a given timeframe. Make sure the desired outcomes are challenging but also achievable. It is OK to have generic responsibilities, but that said, the more specific the duties are, the more likely they are to be achieved.
3. Constant communication. Set aside frequent check-in meetings for project updates. As trust develops, avoid coming across as micromanager. Make it clear the meetings are to help provide guidance and remove hurdles an individual might be facing. Also, have an open-door policy. Remember, when it is time for an annual performance review, the evaluation should never be a surprise.
4. Listening. It is one thing to hear staff and another to listen. Listening to staff means focusing on what they are saying and acknowledging their message was received using both words and body language.
