Mergers & Acquisitions Advisory

A Neumann & Associates, LLC

December 30, 2015

How to Attract and Keep Great Talent

By Achim Neumann

One fundamental truth of running a successful business is keeping profits high, and costs low. Softer aspects of workplace culture such as recruitment and talent retention have been overshadowed as a result, but that doesn’t mean they are any less important.

By getting the right people and hanging on to them, profits, and both client and employee satisfaction will be considerably more impressive than those that allow too many average employees to exist in their organizations, and A players to slip away to companies that value them more.

Let’s review several ways businesses can make themselves more attractive to the best talent on the market…

14202195290_4ac1d5a92b_z
Make your careers page attractive to A players

The average job seeker is only looking for a paycheck, but alpha employees that take companies to new heights are more interested in companies that present themselves as an agent of growth and change.

They also seek out workplaces that reward success and have a true team atmosphere, so be sure to communicate these qualities effectively.

Is the best candidate on the other side of the country? Reel them in with a relocation stipend…

Recruiting star talent can be an arduous task. When you do find the perfect fit for a position, don’t let financial and logistical difficulties stand in the way of sealing the deal.

If they live on the opposite end of the country or the globe, providing financial assistance that will help the deal with the significant costs involved in a move will help them get off the fence and into a role where they are badly needed.

Allow franchise players to have a long leash when it comes to creative control

Beta employees often need to be actively managed in order to get an acceptable amount of production out of them, but A players can often be trusted to get the job done on their own.

Additionally, they often come up with innovative processes on their own that will benefit the company when their boss resists the temptation to micromanage every aspect of their work day.

Let them tap their superior talent with only a few restrictions, and the business will be better off for it in the long run.

Give employees time flexibility so they can establish a favorable work/life balance for themselves

The best talent is very effective when it comes to how they use their time. When A players get more done in a few hours that takes a B player all day to accomplish, it makes sense to reward them with flex time that permits them to balance their careers with their family and social life.

While there may be some that worry about such an approach, the potential for abuse is low when this privilege is granted to high achievers, making it a net gain for the company, as time flexibility is a policy that will keep them happy.

Grant employees financial incentives and time allowances to develop their skills

Alpha employees aren’t just looking for top-of-the-line compensation, they also want the ability to develop their skills and stay on top of their field.

Employers that grant their employees time off and financial assistance to take courses and obtain designations and continuing education will enjoy greater loyalty and productivity from their team. It shows that an investment in their future is not only important for the business, but them as well.

Celebrate employee successes and the attainment of company goals

Workplaces are viewed by its best contributors to be a team that moves towards goals. When companies recognize and grant rewards, the victories won via the collective efforts of its employees creates a positive feedback loop that motivates them to achieve even greater objectives in the future.

About A Neumann & Associates, LLC

A Neumann & Associates, LLC is a professional mergers & acquisitions and business brokerage firm having assisted business owners and buyers in the business valuation and business transfer process through its affiliations for the past 30 years. With an A+ Better Business Bureau rating, the company has senior trusted professionals with a deep knowledge based in multiple field offices along the East Coast and has performed hundreds of business valuations in its history. The firm’s competitive transaction fees are based on successfully completing transactions. For more information, please contact A Neumann & Associates at 732-872-6777 or info@neumannassociates.com

Comments are closed.

Any questions? Please contact us at 732-872-6777
Call Now

Client Testimonials

“ I appreciate your diligent approach to screening buyers and sellers as well as the high quality CIM that you produce.”

Andrey O, Investor

“Finally enjoying retirement after recently selling my business using the services of A Neumann & Associates. Joe Oddo provided the conduit to a successful transaction. Joe knew when to inject input and when to simply listen and allow the buyers to vent, step back and regroup. The outcome met our expectations and got us to the finish line, which included my staying with the company six months in order for the buyers to get their footing and keep our workforce in the loop. He helped at every step by providing his expert guidance & resources. Thank you!”

Emily Parker Myers, Co-Owner - Myers McRae

“I had been in touch with Karin and Gary from A Neumann & Associates regarding some opportunities and was looking forward to meeting with them. Hence, when they organized a seminar in Princeton, NJ, I was quick to sign up. The seminar was very informative as the team walked the attendees through various scenarios and referenced real life buying/selling situations they had been through. The sessions by Gary, Karin and Achim were crisp and focused and brought clarity to potential seller and buyers. I strongly recommend the team and look forward to continue working with them.”

Gaurav Tyagi

“Thank you for your Event on "How to value, Sell, and Buy A Business for Maximum Profit" and the insight into ANA’s approach on what is involved in the Business Exit for sellers. Garys Hervieiou's "Business Valuation", Achim's "Deal structure" presentation and Karin’s "Preparing the Package" are real street knowledge shared. They answered attendees questions which makes it more interesting for learning from others. Great for small businesses like us. The presentations were totally worth our time and travel for the event to Princeton, NJ from Rockville MD. Ravi Bhutani, President, CIPS”

Ravi Bhutani

“Gary, this is to thank you for an excellent job done in selling our business. We could never have done it without your professional expertise, dedication and time put in without reservation to make it happen. We will gladly and highly recommend you to anybody in our position.  It was a pleasure to work with you.”

Pat Iammatteo, Owner

“Your vetting is simply outstanding, among the best I've seen from a broker.”

Eric H., Investor

“I recently contacted A. Neumann and Associates about getting a valuation of my business done. I spoke with Marc, who explained the process in detail. After meeting with Marc in order to get a clear understanding of my business, and what I was hoping to accomplish. His patience in answering all my questions and his knowledge of the proper way to market my business gave me great confidence that this is the firm I will be using to sell my business for max value. Working with Marc at A Neumann & Associates was very easy and professional. I did not know all that was going to be involved in selling my business but they helped me through the process. What I thought was going to be a just another one of those pushy sales companies was just the opposite. Polite, knowledgeable, and a pleasure to talk to and deal with. I highly recommend this firm to anybody who wants to sell now or down the road. Marc not only knows his stuff, but actually is a real nice guy.”

Double Diamond

“Used A Neumann & Associates to sale my business. could not imagine having done it with out the patience and experience Gary provided. Thanks Gary,”

Dennis Frazier

“Working with Marc and his company was a pleasure. What I thought was going to be a just another one of those pushy sales companies was just the opposite. Polite, knowledgeable, and a pleasure to talk to and deal with. Marc handled most of the interaction and he has one of the greatest demeanors. Again, it was a pleasure working with him and his firm.”

Douglas DiCeglio

“I recently completed an acquisition using A Neumann & Associates. Tony Valentino was very helpful and accessible during the entire process. They do a thorough job vetting both parties and got us to the finish line.”

Srini Mudambi
view all testimonials

Contact A Neumann & Associates, LLC

If you are considering selling your business, please contact us to learn more about our comprehensive service spectrum. Our experienced professionals will answer all your questions about selling a privately held business in complete confidentiality. Please fill out our contact form, or call us at 732-872-6777. We will contact you directly and will never identify ourselves to your employees.

call us now
Contact Us for a Free, Confidential Consultation

Experienced M&A Advisors available

Full Name
Email Address
Phone Number
Message