Adams & Garth Blog

The recession has certainly presented a struggle for businesses throughout Central Virginia. And, as a result, many company owners and managers have been forced to operate on a lean budget, trimming staff and putting plans for expansion on hold in order to stay afloat. But now that the economy is regaining some life, it’s time to assess your company’s health and plan ahead for future growth. Here are some questions you should be asking:

1. How is the company doing compared to competitors?

Try to find out what your top three competitors are doing regarding new markets, products, hiring, and pricing. It’s imperative that you have a handle on what your competitors are doing so you’re not blindsided by any moves.

2. Should the company be offering new services or products?

Innovation is paramount to the success of any business. However, due to the unstable economy, you may have put off any expansion plans for your product lines or services. But if you don’t develop new offerings soon, your competitors will.

3. How did the company’s sales in the last year compare to those in previous years?

While flat sales are certainly better than declining sales, now’s the time to pick up the pace and aim to improve in 2011.

4. What percentage of the company’s sales come from repeat business?

As you know, it’s much easier to retain existing customers than it is to win new ones. So you should strive to improve the percentage of repeat customers in 2011.

5. What can the company do to better serve existing customers?

Without customers, you’re out of business. So it’s critical that you make sure their needs are met and that they’re satisfied with your products and services. Make a plan for you or your sales reps to touch base with every customer to check in. Ask questions about what you’re doing right – and what areas could use some improvement.

6. Does the company need to update any equipment or technology?

If you’ve put costly IT maintenance or updates on hold, it’s time to reconsider. Even if you still can’t afford your entire wish list, start making some small and steady updates.

7. How is the company protecting against turnover?

As the economy recovers, more and more employees are starting to voluntarily leave positions and move on to greener pastures. So what are you doing to ensure you retain your star performers?

8. Does the company need to hire new employees?

Now could be the time when you should be bringing on new employees so you can get more done and take on new opportunities. If you’re not ready to hire full-time, then consider supplementing your core staff with temporary workers.

And if hiring is on your list for 2011, please contact Adams & Garth. As one of Central Virginia’s leading staffing agencies, we can give you access to the talent you need, when you need it.

While your employees are your greatest asset, they are also your biggest expense. So, logic follows, the more proactive you are about managing the cost of your employees, the more money you’ll be able to save.

However, with that said, effectively managing your staffing function isn’t all about saving money or cutting costs. Instead, it’s about increasing your company’s flexibility so that you can take on new opportunities and overcome obstacles.

Here are some tips you can use to better manage your business through effective staffing:

Eliminate those bottlenecks.
When it comes to running a company, one of the biggest challenges for growth is the shortage of skilled people. In order to overcome this issue, you have a few options:

• Hire additional permanent staff
• Train your existing core staff to work more efficiently
• Hire contingent or temporary workers
• Outsource parts of your process to a firm that can get those tasks done faster or cheaper

Be on the lookout for new opportunities.
You’ve probably had a lot of great ideas for new business ventures; however, you may not have the resources to implement those plans. But with temporary or contract workers, you can tap into the resources you need, when you need them, in order to take on new opportunities and grow your business – whether that means hiring a contract IT guru to build an e-commerce function for your website, or taking on several new temporary workers to complete administrative tasks so your core staff can focus on the new initiative.

Hire skilled talent.
Instead of taking the time to learn a new skill on your own, or spending hours trying to train your staff, bring in an experienced contract employee who can offer you the knowledge and capabilities you need on a temporary basis. There’s no learning curve and once the project is finished, you don’t have to worry about the cost of a full-time employee.

Generate revenue with temporary workers.
Temporary workers can be used for a variety of revenue-generating tasks, including:

• To collect data
• To conduct market research.
• To create marketing materials.
• To manage a seasonal surge in business.
• To fill employment gaps when an employee is on vacation, or on maternity or sick leave.

Focus your employees on what they do best.
Your top sales person shouldn’t be doing low-level administrative tasks. He or she should be focused on selling and making money for your business. Hire a full-time administrative assistant or bring in a team of temporary employees to manage less important duties while your full-time staff focuses on priorities.

Outsource certain activities.
You may want to consider outsourcing certain functions, like IT, staffing, or payroll, to a firm that specializes in these kinds of tasks. Chances are, they’ll be able to get the job done more efficiently – and effectively – than you can.

If you’re ready to use staffing to better manage your business in 2010, then please contact Adams & Garth. As one of Lynchburg’s top staffing firms, we can help you plan for future staffing needs, as well as determine the best way to get the work done, improve revenues, and reduce costs.