Revive your team and your cash flow

Revive your team and your cash flow

Client stories make such great reference points. This is one of my favourites as personal budgeting is something many people need help with.

During one of our team management training sessions, the discussion came to internal training of team members. I commented that a company can only grow to the level of its team and encouraged in-house training, especially in basic life skills. This can often be done by internal team members sharing what they know and how they practically apply these skills in their lives. For many people privileged to experience a quality education, it can be hard to appreciate how many people struggle with basic life skills. Do you know people who struggle with things like good manners, asking authority figures questions, budgeting, relationships, personal health and hygiene?

If you can equip your team members to win at work and help your team to ‘win’ at home your team retention, loyalty and productivity will all increase.

Tom*(names changed) shared this story to encourage others around how easy it is to help upskill your team. Tom had James, a young man in his early 20’s, join his contracting business. James was a superb worker - arrived early, worked hard, showed initiative and had a great attitude. Such was his work ethic James soon was given more responsibility and an increase in pay. Shortly thereafter James appeared distracted and unfocused at work. He lost his cheery demeanor and during a lunch break, Tom asked James why he seemed to be down. “I just seem to have no money”, was the reply. Surprised Tom gently pointed out that, for his age, James was earning top wage. “I know but there never seems to be enough and I am getting behind on bills,” James admitted.

Tom asked if they could look at it together and getting the back of a handy old envelope asked “What is your rent per week? How much do you normally spend on your phone? Electricity? Food? Petrol?...” - Listing all the expenses in a left hand column and the amount on the right he worked out total expenses and subtracted James’ wages stating he would have just over a $150 for discretionary spending. James was at first shocked stating, “I spend way more than that!” Then, almost as quickly stated - “Wow, I have never seen it presented like that before.”

Were you ever taught how to do a basic budget in school? How about communication skills or something as imminently practical as how to manage your emotions, or relationships?

Do you equip your team to succeed? Do you have a learning organisation? Are you constantly developing your people and providing opportunities for learning? One simple suggestion is to make available a company library - a selection of books that anyone can have access to. You may even want to promote monthly read with CASCADE TRAINING. Look for ways to make learning easy - have a culture of internal training and for sales reps (or anyone travelling a lot) I suggest audiobooks to listen to while driving - I love Audible.com.

Learning can be easy, cover simple things and yet still be life changing. Our latest edition of Learning BITES is in this vein with 5 simple ways to increase cash flow.

This week consider what steps you could take towards becoming a learning organisation. If we can help in any way send us an email and until next week.