This article first appeared in the September 2016 AM Magazine
We ask, are people your greatest asset?
For the past 15 years GMD People has been supporting automotive businesses develop their leaders.
Over the next few months within AM’s Executive Panel we will be focussing upon how you can get the most out of your people as a leader.
We are all familiar with the expression ‘people are our greatest asset’. Leaders have a fundamental role in ensuring that they maximise all their resources – we all have stories about how the good people, and the not so good people, impact on bottom-line profitability.
Behind all the key business KPI’s are people – they all have a role to play in achieving and exceeding these.
Many leaders we speak to, talk about the ever growing complexity of running a retail motor business and the frustration of the tactical, operational ‘distractions’ that frequently take them away from focussing on their longer term thinking.
This includes consideration of their people – even having an informal chat with a team member can be seen as a luxury for many!
Considering the activities and time needed to recruit, induct, manage and develop people properly, the role of leader is crucial to ensure all the elements of the ‘Employee Journey’ are managed in the most efficient and effective way.
For example, the cost of recruiting the wrong person can cost a business up to £30,000 (ref ACAS) – this is a direct hit on the profitability of the business but one that can sometimes be overlooked.
So, do you get the best from your greatest assets? And if the answer is NO, come and talk to us –GMD People
