Your company's silent killers

Your Company’s Silent Killers

Your company’s silent killers can lurk beneath the surface, quietly sabotaging your success. These issues, whether internal or external processes, can lead to high blood pressure moments and disagreements within your organization. Recognising the warning signs is an absolute requirement to maintain constructive relationships within your team.

To combat these silent killers, proactive measures are necessary. Productivity and development initiatives must be implemented to re-energize your environment and foster open discussions. By prioritising communication and constructive feedback, you can mitigate the impact of these silent killers on your organizational growth.

Ignoring these issues can be detrimental, leading to decreased morale, decreased productivity, and ultimately, loss of revenue. Don’t let your company fall victim to these silent killers. Take action today to address these challenges head-on and ensure the long-term success of your business.

Identifying Your Achilles Heel

I’m sure you have heard the story about the amazing warrior, Achilles. He seemed almost invincible, but he had one weak point. When an arrow struck him in his heel, it led to his demise. Thus the term “Achilles heel” – a weak point despite overall strength, that can lead to downfall.

As individuals, we all have an Achilles heel. Larger groups like organizations, and even civilizations, have an Achilles heel. The Roman, Greek, Mongol, Persian or Viking civilizations are no longer with us.

When we look at these civilizations today, it is easy to find their Achilles heel. It’s not always as easy to spot it when you are intricately involved. As an example, you might be to some level aware of a company or organizational weakness. Yet, you might not be aware of a much bigger problem behind this, since you are involved in the day-to-day running of the business.

Being aware of these weaknesses is the first step to being able to attack the problem. We will cover common Achilles heel situations that could exist in your company with possible solutions.

Company Staff

There have been many studies on the subject of staff turnover and what it actually costs a company. Let’s look at some statistics before we delve into the core message of this article.

Josh Bersin of Deloitte believes the cost of losing an employee can range from tens of thousands of dollars to 1.5 – 2.0x the employee’s annual salary.

The Center for American Progress published about 11 papers over a 15-year period that determined the average economic cost to a company of turning over a highly skilled job is 213% of the cost of one year’s compensation for that role.

The cost of replacement will vary from company to company and industry to industry. The average is around 20% of all new staff hired leave in the first year.

It is expensive, disruptive and a big problem.

But what are the main reasons for staff turnover and how can one keep it to a minimum?

Now I am going to get the first “reason” out of the way. A lot of people have the idea that it is all about the money. The employee was not paid enough, so he or she left. There is a very interesting article by the Harvard Business Review, where they cite numerous thorough studies. The finding was that the correlation between payment and work satisfaction is very weak.

How engaged someone is with their job seems to be the main factor that determines job satisfaction. The engagement with a job is monitored by enjoyment, how much the person is learning or growing and the amount of challenge.

When it comes to enjoyment, there are certain things people enjoy more than others. So there might be tasks or duties that are not that enjoyable, but this will vary from person to person. This is why it is important to place someone in a position they are suited for.

With learning and growing it is important that you have a good onboarding program for new staff and that the rest of your staff continually have training to further improve their knowledge and skills.

Also, when we look at challenges, the person has to have adequate challenges in their position. This is where goal setting comes in very handy. One must make sure you set realistic but stiff, goals. Goals that are too easy to attain will not motivate your staff, and goals that are too steep will also demotivate.

I don’t know about you, but I have found that if I have a lot of knowledge and skill in a certain field, I generally like doing it. And I have a lot of confidence that I can handle almost any challenge coming my way, even if it is a tough one.

So for me, the learning and growing factor stands out above the rest and would be the most important factor to address. Of course, this has its own challenges as evidenced by the fact that most companies don’t have efficient onboarding and continual training programs in place.

Staff Training

Staff training can be expensive. I get it. It costs money and takes time to train staff. So far we have only looked at what it could cost you when it comes to staff turnover. What about what it costs you per day, per week or per year with a workforce of people who are not working at their full potential?

Training should be viewed as an investment and not a laborious expense. Your staff are valuable assets that accumulate value over time. Well, they do if you train them and have them expand their skill and knowledge. If you don’t, you are losing out a lot on their full ability to contribute to the success of your company.

Also, something to keep in mind is that even though it does take time to train staff when they are more competent at what they do, you will have increased their ability to produce quality work in less time. This has a snowball effect.

With untrained staff, everyone might look and be super busy, but the level of busyness doesn’t correspond with what outcome you get.

Other common problems with staff training could be that it is boring or staff do not retain what they learn. There could be many solutions to these last two, but I would like to share something with you that is a great solution to all the above-mentioned problems with training. Something that I am very familiar with… yes, you’ve guessed it! Video. 🙂.

Leading analysts at Forrester, Bersin and Gartner have done some extensive research at Fortune 100 companies like Microsoft and IBM and Forrester Research found that employees are 75% more likely to watch a video than read documents, emails or web articles.

Recent data from the SAVO Group has shown that only 7 days after training the average employee would have forgotten 65% of the material covered. What’s worse is after 6 months they would have forgotten 90%.

Employing Video In Your Company Initiatives

Video however has been shown to greatly improve people’s ability to remember concepts and details. So it not only increases the efficacy of your training but also improves the ability of people to remember the information for much longer. Video has been proven to increase retention by  65%.

Training using video keeps the costs down. The reason for this is that most of the costs of training are delivering it. Also if you look at the above statistics about retention, it is clear to see that conventional methods are very ineffective and you are basically throwing 90% of that money down the drain.

With video, you create it once and you have it to keep. Your staff can train on-demand and even do so from their mobile devices. So it saves time and it saves a whole lot of money.

As an example, Microsoft brought down their staff training costs from $320 per person to $17 per person when they used video instead of conventional methods. Over a 3-year period, they saved an average of $13.9 Million per year!

With video, you can break down complicated tasks and boring company procedures into an easy and engaging format and make your training fun! Your training videos could also have instilled in them your company culture.

Another great thing about using video is you can rapidly get your new staff up to speed using video and you could also build an amazing on-boarding program with video. If you would like to chat with us to see how we can help produce great videos for your company staff training program, you can book a free call at the top of this page.

We looked at the importance of staff training and how a lack of it could be very costly, to say the least, and ultimately silently kill your business. Before we get into the next of your company’s silent killers, I want to tell you a short story about something that happened to me recently. Less than a week ago, I was looking for another CRM (Customer Relations Management) software solution. When I embarked on this journey, I was thinking it would take me about 30 min, or 1 hour at the most. 

3 hours later, after I had read through tons of web pages and spoken to a dozen support teams, I found what I had thought to be a clear winner. A bit more expensive than our current solution, but it seemed like it could do everything we needed.

I spent another 2 hours, checking out the software to learn how it works so that I could easily transition our staff over to this new platform. Then I realised that there was one very crucial thing that this software needed to do for us, which it could not. On top of that, there was another feature that we needed, but it’s only available if you paid for a much higher tier.

I was super frustrated! My whole day had been a complete waste and I had to start searching again! 

I am sure you’ve had a similar experience to this in the past. This company did provide a lot of information about their product, and they have a very good product overall, but their offer wasn’t clear from the start. How many people are having similar experiences to mine?

Constructive Initiatives for Your Company

So, how do you ensure that a client or prospect has a pleasant and efficient experience when working with your company? Let’s go over some basic and effective things you can do.

The first thing to do is to look at your business and identify all the touch points. Those are all the parts that are in contact with clients or prospects. Examples are the sales department, customer support, your website etc.

The next thing would be to look at these touch points and make a list of things that clients or prospects would want or need to know or what they would want to have happen at these points.

It would also be very helpful to get a list of commonly asked questions or common requests from the staff who directly deal with the public at these points. Now that you have this information at hand you should be able to get a very good idea of where you are lacking. Whether it is with your website, sales, customer service or anything else, you will be able to do something effective to improve the operation of your company and the interactions with your clients and prospects. This is a two-edged sword. You will not only increase the perception people have about your company but will also boost your staff’s efficiency and morale. 

When doing this exercise ourselves, we found that salespeople had a recurring question about our video production process and had to answer it over and over and over. So we made a short video that explains it. You can view it by following the link here.

Video is an invaluable tool in this regard. Your clients can quickly get the information they require and as a bonus, it saves your staff a ton of time. If you had to get a few videos on your website, as an example, you’d increase your conversions as people would now understand easily what you offer and be able to differentiate your company from all your competitors. 

If you would like to chat with us to see how we can help you, feel free to schedule an obligation-free call by clicking on the menu button above. One of our business growth experts will get on a call and work out a solution tailored to your needs. 

A while back I was driving and suddenly I noticed that the car’s heat gauge came up really fast! I switched off the engine and luckily there was an open spot next to the road so I could pull over. After a lot of investigation, I isolated what the problem was. One tiny valve wasn’t working. Luckily I saw the heat coming up, otherwise the whole engine would have overheated and would have cost a lot of money to fix. Whereas the small device that I found was faulty and cost the same as a plate of food.

When it comes to your business’s marketing and sales divisions, there are also a lot of parts. You could generally have a good system, but one part that is not working could be the difference between howling success or disaster.

The internet has a sea of information and opinions about different things and every second day another marketing or sales gimmick enters the market making huge claims. So how do we know what to use and what to ignore?

The answer is not an easy one, but I will share with you the basic fundamental laws that, when applied exactly, will leave you with a fine-tuned machine that helps your company travel safely on the road to your dream destinations.

The first two vital laws about marketing are:

1. If you or your marketing team want to communicate effectively about a service or product to your audience it is very important that the people involved understand the product or service well

2. To communicate effectively to your audience in your marketing, you have to have a really good understanding of the audience you are trying to communicate to. 

If you know the information regarding the above vital laws, crafting a successful marketing campaign becomes relatively easy. This is the foundation on which you build the rest.

It does take some time, but it is absolutely vital to do a lot of research regarding your target audience. Fortunately, there are many tools available today to do this.

A very key and easily overlooked tool is to get some surveys done. This will give you valuable insights into people’s ideas and attitudes towards certain things and will give you actionable information for your marketing campaigns.

Study the market and competitors thoroughly, and also follow key companies or people you are looking to do business with on social media. Once you have followed them you will see their posts in your feed. This will also give you valuable insights. Keep in mind this is an ongoing process. You should always look to learn more about your target audience.

Once you have a good understanding of your audience, it is easy to give the copywriting and marketing team or agency information about your service and product. The key point here is to make sure they actually understand it. They do not need to know all the technical information about it, just to really understand what it does and how it will help the client.

Whether you are talking about a website, flier, email or video it has to do three things successfully to achieve the purpose of marketing.

It has to:

– Grab attention

– Generate interest

– Get your message across

In that order. This is true about your copy, but if you also apply this in your design and artwork you will have created a double impact and it will most certainly get results if you have done your research and surveys correctly.

Here’s an example of this. If you arrived at your desk and in the middle of the desk stood a little bottle with a note in it, it would grab your attention as it is out of the ordinary. Then you would look at the bottle and see that you cannot make out who it is from or what is written on the note inside. Next, you would open it and read the message.

Whoever sent you that would have accomplished their mission – getting the message across to you.

Some people focus on the message so much that they totally abandon the design, which leaves you with something that comes across as very mediocre and can give a bad impression of the company.

Some people focus so much on the design that they completely miss the mark in delivering the message.

Here at Impact Animated Videos we work on both, as they are both important! A great video that grabs attention generates interest and gets the message across to your audience is all we are interested in.

So we have covered some fundamentals so far. We have looked at the research aspect of knowing the product or service you are trying to market and then making sure you understand the audience. Building on that, we have looked at the key elements of a successful marketing campaign and the sequence of those elements.

Now let’s look at some guiding rules and important information when it comes to quality.

It might seem obvious, but the first guiding rule is to actually try and sell your product or service or to get them to take some kind of a step. So there needs to be some call to action. The key word here is action! I am sure you have seen some magazine ads where there is some pretty girl and somewhere in the picture there is a perfume with a single line of text, but that’s it… It might build some awareness that your product exists, but you will not achieve much more than that, unfortunately.

The second guiding rule is not to make false claims. It lays you open to attack and most people, when they find out you had falsely advertised, will never do business with you. With the speed of communication on the internet, social media etc. you can get a pretty good idea of how damaging this could be to your company. 

The last thing is quality. A badly researched, boring, cliche-ridden marketing campaign can cause damage to your company. We’ve seen this, where someone chooses to work with an animated video company based on price as the only qualifier. They end up with a video that doesn’t get their message across and looks cheap. So essentially without realising it, they have gone and paid money to damage their company. 

Conclusion

In conclusion, your company’s silent killers are real threats that can impede your progress and undermine your success. Whether it’s staff turnover, ineffective training, or poor customer experience, these issues can quietly erode your organization’s potential.

However, by acknowledging these challenges and taking proactive steps to address them, you can turn the tide in your favour. Investing in staff training, leveraging innovative tools like video, and focusing on improving customer interactions are all crucial steps toward overcoming these silent killers.

Remember, the cost of inaction can be steep, leading to decreased morale, productivity, and revenue loss. But with strategic initiatives and a commitment to improvement, you can safeguard your business against these threats and pave the way for long-term success.

By identifying your Achilles heel and implementing constructive solutions, you can fortify your company against these silent killers and ensure a brighter future for your organization. So don’t wait until it’s too late. Take action today and steer your company toward sustainable growth and prosperity.

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