June 2, 2025

The Talent Revolution: How to Become the Employer of Choice in Your Industry

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In this value-packed episode, Michael Barbarita and Chuki Obiyo reveal why most businesses fall into the destructive trap of competing on price. You'll discover the counterintuitive "Value Elevation Framework" that enables businesses to command premium prices even in challenging economic times. Learn how to position your products and services so customers willingly pay more while competitors continue undercutting each other's prices in a race to the bottom.

Powerful Business Strategies is broadcast live Mondays at 12 Noon ET Music on W4CY Radio (www.w4cy.com) part of Talk 4 Radio (www.talk4radio.com) on the Talk 4 Media Network (www.talk4media.com). Powerful Business Strategies is viewed on Talk 4 TV (www.talk4tv.com).

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WEBVTT

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The topics and opinions expressed in the following show are

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solely those of the hosts and their guests and not

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those of W FOURCY Radio. It's employees are affiliates. We

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make no recommendations or endorsements for radio show programs, services,

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or products mentioned on air or on our web. No

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liability explicitor implies shall be extended to W FOURCY Radio

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or its employees are affiliates. Any questions or comments should

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be directed to those show hosts. Thank you for choosing

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W FOURCY Radio.

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Welcome to Powerful Business Strategies, where you will find out

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that everything you have ever learned about growing your business

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is wrong. Finally, a show where you'll learn the right

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way to grow your business by learning business and financial

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strategies that your competition isn't doing. And now here is

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your host. President of Next Step CFO Michael Barbarita and

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joining Michael for today's show as an executive moderator is

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chooky obia.

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Yes, this is shookey, and I believe that gratitude is

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undefeated and growth is about the next step. It is

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an honor for me to moderate today's discussion with my

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good friend Michael.

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Michael, how are you fantastic, Choky? Thank you, and my

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name is Michael Baberia, President of Next Step CFO, and

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next Step CFO is a fractional CFO and strategic implementation firm.

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Business owners hire us to double and triple their profit

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using business and financial strategies that their competition isn't doing,

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and our vision is to ensure that overwhelmed business owners

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achieve consistent profits that leads to time, freedom to build

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a legacy and the life that they desire. Our mission

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is dedicated to guiding small business owners to leveraging their time,

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exploding their profits, and building a meaningful legacy. And they

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show powerful business strategies and our book of the same

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name is a step toward accomplishing that vision and mission.

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So with that, I'd like to hand it back to

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my co author and modern for the showy obio, Michael.

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I am particularly inspired by today's episode The Talent Revolution

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how to become the Employer of Choice in your industry.

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So before we jump in, folks, Michael and I are

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both affiliated with a number of different organizations and I

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currently serve as the managing director of business development for

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Better Price, a global business focused law firm in addition

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to that, it's truly an honor to collaborate with Michael

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and modeling these great business roundtables where we document insights

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as part of our book called Powerful Business Strategies. But

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please note that the views expressed on this show are

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personal views based on those successful roundtable experiences and beyond.

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And my mission as a fearless moderator is to ask

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the right questions to help you, the listener, learn the

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best business strategies that the competition isn't doing.

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Michael, back over to you, Thank you, Chokey. So before

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we dive into to any critical topic, I do want

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to share something you know. As business owners, we often

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focus intensely on binding customers, managing operations, and driving profits.

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But there's a fundamental truth that many of us learn

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the hard way, and our business will never outgrow the

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quality of our team, the people we bring on board,

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the culture we create, and how we develop talent ultimately

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determines whether our vision becomes reality or remains forever out

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of reach. And the most successful businesses that I've worked

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with don't just have great products or clever marketing. They've

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created workplaces where exceptional people want to be Today We're

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going to show you how to do exactly that, how

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to become the destination workplace in your industry. Attracting people

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will help you take your business the heights you haven't

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even imagined yet, because when you get the people pot right,

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everything else becomes fit infinitely easier. So today we're tackling

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one of the most persistent challenges facing businesses of all sizes,

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how to attract and retain top talent in an increasingly

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competitive labor market. And I want to start by challenging

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a common misconception that most that cost most business owners

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millions in wasted recruiting expenses and loss of productivity. That

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misconception is that talent shortages are primarily about money, that

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if you just pay more than your competitives, you'll win

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the talent war. That reality is far more complex and

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provides tremendous opportunity for businesses willing to think differently. And

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I've worked with companies across dozens of industries, and I

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see and consistently see that employees make decisions based on

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much more than just compensation. And yeah, yes, pay needs

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to be fair and competitive, that's for sure, but beyond

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a certain threshold, other factors become far more important in

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attracting and keeping good people. So think about it your

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own experience. Would you take a job that paid ten

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percent more but required working for a toxic boss? Or

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would you stay at a company that offered good benefits

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but no flexibility or growth opportunities? See, most people wouldn't,

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and the data confirms this. Studies consistently show that after

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basic financial needs are met, factors like purpose, growth opportunities,

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work environment, and leadership quality matter more than additional compensation.

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This is actually good news for small to medium sized

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businesses competing against larger companies. With those big budgets, you

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could create advantages in these other critical areas that make

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you the employer's voice in your industry, even if you

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can't match the highest salaries.

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You know, Michael, that's an interesting perspective. But with unemployment

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rates relatively low and skilled workers in high demand, when

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you say that most businesses are forced to compete primarily

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on wages store track talent.

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Well that's a great question, Choky, But you know the

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current labor market is indeed challenging. You know, I heard

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it recent statistic in the construction industry that's every year

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or I'm sorry. Every month, five people retire and only

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two people come into the labor market. So that's a

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depleting statistic for sure. And that's what business owners are

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up against in a lot of industries, not just the

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construction industry, but competing primarily on wages is actually a

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losing strategy for most businesses, especially smaller ones that can't

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win a bidding war against the larger competitors. And here's

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the reason. That's a good point. We know, when you

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attract people primarily through high compensation, you create three significant problems. First,

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you essentially attract mercenaries. These are people who will leave

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the moment someone offers them slightly more money. Second, you

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create unsustainable compensation structures that hurt profitability. And third, you

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miss out on attracting people who are looking for more

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than just a paycheck. And by the way, these end

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up being the most dedicated, creative and productive employees. Instead,

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smart businesses are implementing what I call the employer of

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choice framework. And this approach recognizes that employees, like customers,

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have specific problems they're trying to solve and outcomes they're seeking.

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When you understand these deeply, uh, you know these issues

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deeply and position your business as a solution. You can

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attract better talent even without paying those premium wages. So

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let me share a quick example. So a manufacturing company

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was struggling to find skilled technicians, and they were competing

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against larger manufacturers offering higher wages and losing most candidates

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as a result. And when they analyzed the situation, they

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discovered that many experienced technicians in their industry were actually

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frustrated by rigid shift schedules that interfeared with family life

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and personal interests. So this company introduced a flexible scheduling

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system that allowed technicians to create their own schedules within

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certain parameters, and they didn't increase their wage rates, but

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they promoted this flexibility very heavily in their recruiting messaging,

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and within three months, their applications rates tripled and they

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were able to fully staff their operation with qualified technicians,

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many of whom came from those higher paying competitors. And

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this example illustrates the power of understanding what potential employees

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really want beyond just compensation. And the company identified a

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significant problem that these technicians had with traditional employers, and

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they position themselves as the solution to that problem, and

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our Employer of Choice framework helps businesses replicate the success

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through a systematic approach with three key components. First, employee

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problem and solution identification deeply understanding the specific problems and

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frustrations that your ideal employees face with typical employers in

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your industry and developing innovative solutions to these problems. Second,

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employee value proposition development, Creating and articulating a compelling statement

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that clearly communicates how working for your company solves these

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problems and delivers unique benefits that employees can't find elsewhere.

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And Third, attraction and retention systems implementing specific processes to

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attract ideal candidates, efficiently convert them to employees, and keep

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them engaged for the long term. So I introduced our

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Employer of Choice framework and the importance of understanding what

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employees truly value beyond just compensation. So let's dive into

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the first component of the framework, which is employee problems

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solution identification. This is about deeply understanding the specific problems

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and frustrations that your ideal employees face with typical employers

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in your industry and developing innovative solutions to these problems. Now,

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most business owners approach hiring with a self centered perspective,

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here's what we need from employees. Now. The employer of

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choice framework flips that around to an employee senate perspective. So,

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here's what employees need from us is the shift and thinking,

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and that shift opens up tremendous opportunities to differentiate your

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company in the talent marketplace. So how do you identify

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these employee problems and frustrations? Well, there are four primary

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research methods that I recommend. First, conduct what I call

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stay interviews with your best current employees. So unlike exed

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interviews that happened too late to retain talent, stay interviews

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focus on understanding what keeps your top employee and top

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performance engaged and what might cause them to leave. So

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you would ask questions like, what do you enjoy most

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about working here? What frustrates you about your job or

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our company? What would what would make your work experience better?

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Have you ever considered leaving and if so, what prompted that?

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And what would another company have to offer to entice

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you away? And these frank conversations often reveal very surprising

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insights about what your employees truly value and what problems

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they're experiencing that you might not be aware of. Second,

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analyze data from former employees, whether it's reviewing exit interviews,

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resignation letters, departure patterns to identify recurring themes. Why did

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people leave? Was it always for more money or were

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there other factors like a lack of flexibility or a

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lack of growth opportunities or management issues. Third, research your

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industry's specific pain points. Different industries and roles have very

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unique frustrations. For example, retail employees often struggle with unpredictable scheduling,

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I TAM professionals frequently cite lack of development opportunities, and

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healthcare workers report burnout from administrative burdens. So understanding the

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common pain points in your industry provides a starting point

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for differentiation. Four. Monitor online employer reviews on platforms like Glassdoor,

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and indeed, look at reviews of both your company and

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your competitors. What patents do you see that in these

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negative and any negative reviews? What do employees consistently praise

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or criticize. These public forums often contain candid feedback that

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you know that wouldn't be shared directly, So let me

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share a real example of how powerful this research could be.

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So if business in the accounting industry was struggling to

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attract and retain skilled professionals, and that's another industry with

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a retirement rate is a lot faster than the incoming rate.

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And through state interviews and industry research, dis accounting for

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discovered three primary frustrations among accountants. Number one was the

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traditional busy season created extreme work life and balance for

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several months each year. Second, most firms provided limited client

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interaction for junior staffs, longing professional development, and remote work

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flexibility was inconsistent or non existent at many firms owned.

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With this knowledge, they completely reimagined their employment model to

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address these specific pain points, and they implemented year round

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tax planning to flatten workloads. They created client exposure opportunities

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for all staff levels, and adopted a remote first approach

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with optional office space. So these changes they did require

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pa higher salaries. In fact, they were able to offer

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slightly below market compensation while still becoming a preferred employer

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in the region, and within a year they reduced turnover

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by sixty two percent and built a waiting list of

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qualified candidates refer it by existing employees.

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Michael, it's always interesting to gauge the amount of engagement

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that we have. So we've got a good number of

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listeners today. We do have one question from a listener,

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and I'll go ahead and sort of ask that question, Michael,

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if you've got a minute. So look, I imagine here's a question.

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I imagine many business owners might worry about the cost

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of implementing these kinds of solutions. Michael, how do you

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even sure that becoming an employer of choice remains financially viable.

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Well, that's a critical concern about cost. You know, the

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goal isn't to create employee benefits that bankrupt the business.

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It's a design and employment experience that attracts and retains

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talent while remaining financially sustainable. And there are three key

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approaches to achieving that balance. First, you focus on value creation,

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not just cost. When evaluating potential solutions, consider both the

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cost and the financial benefits, because you've got to consider

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that reduce turnover. That reduced turnover alan can save substantial money.

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The fully loaded cost of replacing an employee typically ranges

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between fifty percent and two hundred percent of their annual salary,

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after your account for recruiting, training, loss, productivity, and customer impact.

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For example, the company in the IT services industry implemented

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a four day work week for their technical staff, and

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while this represented a theoretical theoretical twenty percent reduction in

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available billable hours, the reality was far different. Turnover decrease

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from twenty eight percent to nine percent that was on

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an annual base, saving tremendous replacement costs, and then productivity

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during the full working days increased, and their improved reputation

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as an employer led to higher quality applicants, further enhancing

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productivity and client satisfaction. Second, design solutions around trade offs

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rather than just pure digit So instead of simply adding

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benefits on top of current operations, look for creative restructuring

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that delivers value to employees without significantly increasing the costs. So,

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for example, a healthcare provider found that their clinical staff

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strongly valued scheduled predictability, so rather than hiring additional staff,

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which would have been prohibitibly expensive, they redesigned their scheduling system.

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So they offered slightly lower hourly rates for shifts scheduled

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two months in advance, with premiums for last minute coverage.

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So the staff could actually we choose their preference, creating

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a win win scenario because employees who valued predictability got

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guaranteed schedules and those who valued higher pay had opportunities

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for the premium shifts. And Third, carefully phase implementation based

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on financial impact. So start with solutions that have the

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highest impact to cost ratio, and then reinvest the benefits

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from reduced turnover and improve productivity into the additional improvements

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and benefits. So a manufacturing company began with low cost,

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high impact changes like creating transparent career paths and implementing

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peer recognition programs, and as these changes reduced turnover and

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improve productivity, they reinvested a portion of these savings into

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more substantial benefits like skills based pay increases and educational assistance.

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And this phased approach allowed them to become an employer

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of choice while actually improving their overall financial performance. So

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the most important point is that becoming an employer of

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choice doesn't necessarily mean having the highest cost. It means

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understanding what truly matters to your ideal employees and designing

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an experience that delivers exceptional value in those specific areas.

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Even if you make trade offs in other areas.

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So to wrop up this segment, what are two key

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action items that you would recommend business owners implement right away?

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Well, the first action item is to schedule those stay

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interviews that I talked about with at least five of

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your best performers in the next couple of weeks. Prepare

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specific questions about what they value most about working for

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your company, what frustrates them, and what would make their

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experience better. And the key is to listen without defensiveness.

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We business owners have a tendency to be defensive in

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these in these conversations and look for patterns across different conversations.

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These insights will form the foundation for your employee problems

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solution identification. And then the second action item is to

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conduct a competitor analysis with an employment perspective. So review

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at least ten online reviews of your top competitors on

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platforms like Glassdoor and Indeed, and note what employees consistently

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praise or criticize about these companies, and then assess your

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own company against these findings. Where do you potentially have

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advantages where you're vulnerable? And this analysis will help you

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identify opportunities for meaningful differentiation in the talent workplace. And

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in our next segment, we're going to explore that second

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component of our framework, employment value proposition development. We're going

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to show you how to articulate your unique advantages in

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a way that resonates powerfully with your right deal employees.

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So before I continue this discussion, we're going to take

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a ninety second break. Hey there, business owners, let me

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ask you something. Are you tied of blending in with

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your competitors? Frustrated with slow growth and slim margins? Well,

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I've got news for you. Everything you've ever learned about

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growing your business is wrong. Don't worry. I'm here to

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let you in on a secret weapon, your position of

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market dominance. It's what sets you apart, makes you irreplaceable,

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and has customers lining up at your door. My name

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is Michael Babarta from Next Step CFO. I know what

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you're thinking. Sounds great, Michael, How do I find my

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position of market dominance? Well, that's exactly why we've created

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our game changing impleitation program called Next Step to Market Dominance.

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In just ninety days, we'll guide you step by step

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to a position of market dominance by uncovering your unique

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strengths that competitors can't touch, by crafting a message that

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resonates deeply with your ideal customer, by building a strategy

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that turns you into the go to expert in your field.

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Now this is in theory. These are battle tests and

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00:22:10.319 --> 00:22:13.480
strategies that have held businesses like yours double triple and

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quadruple their revenue. Don't let another quarter go by struggling

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to standout. It's time to dominate your market period. Go

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00:22:22.839 --> 00:22:27.000
to NEXTSTEPCFO dot net forward slash contact. Fill out the

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form and in the message section put the word dominate

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or call us at seven eight one three two six

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00:22:34.599 --> 00:22:38.319
three A two two. That's next STEPCFO dot net forward

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slash Contact or call us at seven eight one three

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two six three A two two. Welcome back to Powerful

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Business Strategies. And remember you could catch any of our

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episodes at Powerful Business Strategies dot com. So before the break,

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we discussed employee problem solution identification. How to uncover and

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address the specific frustration it's your ideal employees face in

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your industry. Now let's explore that second component of our

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Employer of Choice framework, employment value proposition development. This is

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about creating and articulating a compelling statement that clearly communicates

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how working for your company solves employee problems and delivers

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unique benefits they can't find anywhere else. Now, your employment

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value proposition or EVP is essentially your promise to employees

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and answers the fundamental question why should a talented person

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choose to work for your company rather than any option

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available to them? So powerful EVP has five key characteristics,

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and we're going to give you a little later on.

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After I go over these characteristics, we're gonna give you

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a little template and an example. So first, the first

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key characteristic, it's authentic. It must be based on real

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strengths and benefits. Your company can consistently deliver. Exaggerated claims

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quickly lead to disappointment and high turnover, and you'll be

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in last place very quickly. Second, it's distinctive. It clearly

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differentiates your company from typical employers in your industry by

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addressing specific problems or frustrations. Third, it's specific rather than

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generic claims about being a great place to work. It

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identifies concrete benefits and experiences employees will receive. Fourth, it's relevant.

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It focuses on what matters most to your ideal employees,

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not what you think should matter to them. And fifth,

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it's compelling. It creates an emotional connection by addressing deep motivations,

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not just rational considerations. So let me walk you through

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a process for developing your EVP that ensures you hit

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all five of these characteristics. So Step one is to

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consolidate your research findings from the problem solution identification work

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we discussed in this per A segment. Then review the

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patterns you've discovered in stay interviews, exit data, industry research,

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and combetitor analysis. What problems have you identified? What solutions

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have you developed or could you develop? Step two is

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to identify your authentic employment strengths. These are aspects of

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your employment experience that number one, you currently deliver consistently.

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Are you valued by employment? You know what you're valued

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by employees or what your employees value currently a relatively

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unique to your industry. That could be those experiences or

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experiences that you can sustain over time. And be honest here,

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you know it's to have a few general, genuine strengths

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that a long list of aspirational claims that you can't

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deliver on. Step three is to craft your EVP statement

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This is a concise articulation of your employment promise that

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typically follows a specific structure. It starts by acknowledging the

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problem or frustration that employees face in your industry, then

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presents your company as the solutions to the problem through

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specific benefits or experiences. And this is the exact format

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of your position of market dominance for attracting customers. Now

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I'm going to go through I'm going to attempt as

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best I can to describe a template that you can use,

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and then I'll follow it up with an example to

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help you provide more clarity. So, while most type of companies,

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that's so you start out with while most and then

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you insert the type of company that you are in

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your industry expect, and then you insert the pain point

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and the frustration at whatever your company name is. We

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believe the alternative philosophy is what you insert, and that's

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why we and you insert a specific solution benefit one,

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a specific solution benefit two, and a specific solution benefit three.

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Now let me share an example of that template. So

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this is a real example from a company in the

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healthcare industry. Their EVP reads as follows. While most healthcare

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facilities expect clinicians to sacrifice work life balance and professional autonomy.

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At ABC Healthcare, we believe exceptional patient care begins with

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exceptional provider well being. That's why we guarantee predictable schedules

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announced three months in advance, limit administrative tasks to twenty

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percent of your worktime, and provide every clinician with a

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dedicated professional development fund for continuing education of your choice. Now,

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notice how this statement acknowledges common industry frustrations, presents an

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alternative philosophy, and then backs it up with specific tangible

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benefits that address those frustrations. Michael, that's a powerful example.

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And I do have a question related to this. So,

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once a company has developed their EVP, how did they

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effectively communicate that's a prospective employees and one of that So,

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is it seems like you know this would require a

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different approach than traditional job postings.

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Yes, oh, absolutely, Effectively communicating this EVP required a fundamentally

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different approach to recruitment marketing because most job postings focus

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on what the company wants from candidates specific qualifications, experiences, responsibilities.

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These line listings of things they need to do and

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need to have, need to qualify an EVP senate approach

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just flips that narrative. This is to focus on what

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the company offers candidates and that's the key difference. That's

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the key differential. And here are five strategies for effectively

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communicating your EVP to prospective employees. First, change your job

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posting into job postings into opportunity announcements. Traditional job postings

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read like you know demands. For example, you know you

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have you must have this, or you will do that.

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And instead, structure your postings to lead with your EVP

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and the uniquemployee experience that you're going to be offering,

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and then connect specific job responsibilities to meaningful outcomes and

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growth opportunities, not just tests, they that the employee needs

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to perform. For example, a company in the professional services

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industry changed their job postings from standard lists of requirements

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to opportunity focused messages that began with are you tied

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of firms that promise work life balance but expect seventy

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hour weeks during busy seasons. At Johnson Partners, we're reinventing

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the traditional accounting model to ensure that you can thrive

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both professionally and personally. And this approach immediately speaks to

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the common frustraction and positions the company has as a

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solution attracting candidates will experienced those specific pain points, and Second,

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leverage employee testimony onials that validate your EVP. This exists

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is real powerful perspective. Employees are naturally skeptical of company

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claims and authentic stories about current employees who have experiences

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the experience the benefits that you promise carry a lot

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more weight than corporate statements. So collect specific stories that

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illustrate your EVP in action, not just generic endorsements. You know,

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for example, rather than this is a great place to work,

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seek testimonials like after working at three other firms where

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flexible scheduling was just a recruiting phase, I was amazed

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when my manager here actually helped me design a schedule

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around my family commitments. Two years later, they've honored that

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promise consistently. And then, third, showcase your EVP prominently in

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recruitment materials and your website's career page. And don't bury

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your employment advantages, deepen your website or mention them only

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in job interviews. You know, make your EVP the centerpiece,

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the centerpiece of your recruitment marketing and create dedicated web

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content that expands on each element of your EVP with

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specific examples, employees, stories, and tangible evidence, and use visuals

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and video to bring these elements to life authentically. And four,

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train everyone involved in the hiring process to articulate your

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EVP consistently, from recruiters to hiring managers, to potential teammates

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and everyone a candidate encounters. Every one of the candidate

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encounters should be able to clearly explain what makes your

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company unique as an employer, and this consistency reinforces your

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message and demonstrates that your EVP is not just a

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marketing slogan, but a deeply embedded part of your company culture.

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That is critical. Fifth, activate your current employees as EVP ambassadors.

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Your existing team members can be the most powerful recruitment

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channel if they generally believe in your employment experience. So

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create structured programs that make it easy for employees to

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share authentic content about their work experience on social media

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and in professional networks. And a quick example of this

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is a technology company created an employee Experience content series

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where team members share specific stories about how the companies

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supported their growth and their worklike balance and their unique needs.

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And these are authentic posts shared on LinkedIn and other

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platforms generated more qualified applicants than their paid recruitment advertising. Remarkable.

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So to wrap up this segment, what are two key

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action items that you'd recommend for business owners?

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Well, the first action item, chicky, is to draft your

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initial v statement using the template that I provided and

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the example that I provided earlier. Stop by writing down

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the most common frustrations that your research has on covet

464
00:34:09.719 --> 00:34:14.599
about employers in your industry. Then articulate how your company

465
00:34:14.719 --> 00:34:19.840
offers a fundamentally different approach with at least three specific

466
00:34:19.880 --> 00:34:24.719
benefits or experiences that address their frustrations, and share this

467
00:34:25.000 --> 00:34:30.679
draft with trusted employees for feedback on its authenticity and appeal.

468
00:34:31.519 --> 00:34:34.320
And the second action item is to audit your current

469
00:34:34.440 --> 00:34:40.679
job actually auditing your current job postings that you've actually

470
00:34:40.760 --> 00:34:47.480
been marketing with and recruitment materials against your new EVP

471
00:34:48.400 --> 00:34:52.119
and how well do they communicate your unique advantages. Revise

472
00:34:52.280 --> 00:34:55.440
at least one job posting to leave with your EVP,

473
00:34:55.800 --> 00:34:59.199
and restructure the content to focus on the opportunity you

474
00:34:59.199 --> 00:35:02.280
are offering rather than just the requiredness that you have

475
00:35:02.400 --> 00:35:06.639
for that particular position and test this revised approach against

476
00:35:06.639 --> 00:35:09.960
your traditional posting and measure the difference in both quantity

477
00:35:10.199 --> 00:35:14.480
and quality of applicants. And in our next segment, we'll

478
00:35:14.519 --> 00:35:18.000
explore the third component of our framework, which is attraction

479
00:35:18.159 --> 00:35:22.119
and retention systems, and show you how to implement specific

480
00:35:22.440 --> 00:35:27.599
processes to find ideal candidates, efficiently convert them to employees,

481
00:35:27.679 --> 00:35:31.400
and keep them engaged for the long term. So before

482
00:35:31.440 --> 00:35:33.599
we continue this discussion, we're going to take a ninety

483
00:35:33.639 --> 00:35:37.480
second break. Hey, their business owners, let me ask you something.

484
00:35:37.800 --> 00:35:41.400
Are you tied of blending in with your competitors, frustrated

485
00:35:41.440 --> 00:35:44.800
with slow growth and slim margins. Well, I've got news

486
00:35:44.800 --> 00:35:48.280
for you. Everything you've ever learned about growing your business

487
00:35:48.800 --> 00:35:52.199
is wrong. Don't worry. I'm here to let you in

488
00:35:52.239 --> 00:35:56.280
on a secret weapon, your position of market dominance. It's

489
00:35:56.280 --> 00:36:00.000
what sets you apart, makes you irreplaceable, and has customers

490
00:36:00.119 --> 00:36:03.199
lining up at your door. My name is Michael Barber

491
00:36:03.280 --> 00:36:06.639
Rita from Next Step CFO. I know what you're thinking.

492
00:36:07.280 --> 00:36:10.199
Sounds great, Michael, How do I find my position of

493
00:36:10.239 --> 00:36:13.920
market dominance? Well, that's exactly why we've created our game

494
00:36:14.000 --> 00:36:18.679
changing implementation program called Next Step to Market dominance in

495
00:36:18.760 --> 00:36:21.039
just ninety days. We'll guide you step by step to

496
00:36:21.119 --> 00:36:24.679
a position of market dominance by uncovering your unique strengths

497
00:36:24.719 --> 00:36:28.360
that competitors can't touch. By crafting a message that resonates

498
00:36:28.400 --> 00:36:31.599
deeply with your ideal customer, by building a strategy that

499
00:36:31.679 --> 00:36:34.159
turns you into the go to expert in your field.

500
00:36:34.880 --> 00:36:38.320
Now this is in theory. These are battle tested strategies

501
00:36:38.360 --> 00:36:41.000
that have helped businesses like you as double, triple and

502
00:36:41.119 --> 00:36:45.760
quadruple their revenue. Don't let another quarter go by struggling

503
00:36:45.760 --> 00:36:50.280
to standout. It's time to dominate your market period. Go

504
00:36:50.360 --> 00:36:54.519
to NEXTSTEPCFO dot net forward slash contact. Fill out the

505
00:36:54.599 --> 00:36:58.239
form and in the message section put the word dominate

506
00:36:58.679 --> 00:37:01.440
or call us at seven and eight one three two

507
00:37:01.519 --> 00:37:05.840
six three A two two. That's NEXTSTEPCFO dot net forward

508
00:37:05.880 --> 00:37:09.400
slash contact or call us at seven eight one three

509
00:37:09.440 --> 00:37:13.320
two six three A two two. Welcome back to powerful

510
00:37:13.360 --> 00:37:17.360
business strategies. So so far, we've covered employee problem solution,

511
00:37:17.480 --> 00:37:23.599
identification and employee value proposition development. Now let's explore that

512
00:37:23.719 --> 00:37:27.800
third component of our Employer of Choice framework called attraction

513
00:37:28.079 --> 00:37:32.519
and retention systems. And this is where we implement specific

514
00:37:32.599 --> 00:37:38.360
processes to attract ideal candidates, officially convert them to employees,

515
00:37:38.440 --> 00:37:41.880
and keep them engaged for the long term. Having a

516
00:37:41.920 --> 00:37:46.159
great EVP isn't enough if your recruitment and management systems

517
00:37:46.199 --> 00:37:50.599
don't effectively connect it with the right people and consistently

518
00:37:50.679 --> 00:37:54.639
deliver on its promises. So let's start with attraction system.

519
00:37:54.679 --> 00:37:58.760
So how do we find an appeal to your ideal employees? Well,

520
00:37:58.800 --> 00:38:04.480
there are five key strategies that I recommend. First, develop

521
00:38:04.719 --> 00:38:12.519
detailed ideal employee profiles. Just as marketers create customer avatars,

522
00:38:12.960 --> 00:38:17.119
you should create detailed profiles of your ideal employees for

523
00:38:17.239 --> 00:38:21.480
different roles, and these profiles should go beyond skills and

524
00:38:21.559 --> 00:38:27.840
experience to include values, motivations, career aspirations, and cultural fit indicators.

525
00:38:27.840 --> 00:38:33.360
For example, a software development company might identify that their

526
00:38:33.719 --> 00:38:40.480
most successful developers value autonomy, continuous learning, and work flexibility

527
00:38:40.880 --> 00:38:46.360
more than prestige or maximum compensation, and this insight would

528
00:38:46.400 --> 00:38:52.360
shape everything from where they recruit to how they structure interviews. Second,

529
00:38:52.920 --> 00:38:58.400
implement target sourcing strategies. Rather than using generic job boards

530
00:38:58.880 --> 00:39:03.000
and hoping that the right people apply, proactively seek out

531
00:39:03.039 --> 00:39:06.440
candidates who match your ideal profiles, and this might involve

532
00:39:06.599 --> 00:39:13.159
industry specific forums and community communities, professional associations and events.

533
00:39:14.280 --> 00:39:19.440
It might involve targeted social media groups, educational institutions with

534
00:39:19.679 --> 00:39:24.400
relevant programs. And it also might involve companies with similar

535
00:39:24.440 --> 00:39:29.559
cultures but different industries. So, for example, a manufacturing company

536
00:39:29.559 --> 00:39:35.719
struggling to find production supervisors started recruiting from the military,

537
00:39:36.280 --> 00:39:40.079
which provides extensive leadership training and in stills the discipline

538
00:39:40.360 --> 00:39:43.920
and attention to detail that they value, and this targeted

539
00:39:43.960 --> 00:39:48.360
approach yield far better results than generic job postings. Third,

540
00:39:48.719 --> 00:39:53.039
create a referral system that leverages your EVP, so employee

541
00:39:53.079 --> 00:39:57.760
referrals consistently produce the highest quality hires with the best

542
00:39:57.800 --> 00:40:02.719
retention rate. So design are referral program that encourages current

543
00:40:02.760 --> 00:40:07.599
employees to identify candidates who would particularly value your EVP.

544
00:40:08.800 --> 00:40:14.280
And rather than just offering a generic referral bonus, create

545
00:40:14.320 --> 00:40:19.159
materials that would help employees explain your unique advantages to

546
00:40:19.239 --> 00:40:24.960
potential referrals. For example, so a healthcare company created conversion

547
00:40:25.480 --> 00:40:30.320
I'm Sorry conversation cards that highlighted their three key EVP

548
00:40:30.559 --> 00:40:35.840
elements with specific examples, and employees use these cards when

549
00:40:35.920 --> 00:40:39.519
talking to potential referrals, resulting in a sixty eight percent

550
00:40:39.559 --> 00:40:46.039
increase in qualified referral candidates. Fourth, design a candidate experience

551
00:40:46.400 --> 00:40:50.960
that showcases your EVP. So every touch point in the

552
00:40:51.000 --> 00:40:55.800
recruitment process should demonstrate your employment value proposition in action.

553
00:40:56.480 --> 00:41:01.480
If your EVP promises exceptional respect for worklifelence, don't schedule

554
00:41:01.559 --> 00:41:05.679
interviews outside business hours or expect immediate responses to communications.

555
00:41:06.840 --> 00:41:11.000
So a client in the professional services industry redesigned their

556
00:41:11.039 --> 00:41:15.360
interview process to demonstrate their commitments to professional growth, and

557
00:41:15.440 --> 00:41:22.639
they replaced traditional grilling interviews with collaborative problem solving sessions

558
00:41:22.639 --> 00:41:27.440
that showcase how the firm approached professional development. And it's

559
00:41:27.519 --> 00:41:31.800
changed not only improved candidate experience, but also provided better

560
00:41:31.840 --> 00:41:40.079
assessment of capabilities. And Fifth, you leverage content marketing to

561
00:41:40.239 --> 00:41:46.239
attract passive candidates, so most high value employees are actively

562
00:41:46.360 --> 00:41:51.880
job searching. Create content that addresses the professional challenges and

563
00:41:52.079 --> 00:41:56.000
interests of your ideal candidates, positioning your company as a

564
00:41:56.199 --> 00:42:02.280
thought leader, and subtly communicate your EVP. For example, a

565
00:42:02.360 --> 00:42:08.679
marketing agency created a series of agency life remaged articles

566
00:42:09.039 --> 00:42:13.679
and videos showcasing how they had eliminated common industry pain

567
00:42:13.760 --> 00:42:18.920
points like unpredictable hours and last minute fire drops. Now

568
00:42:18.960 --> 00:42:24.800
this content attracted interesting prospects were frustrated with traditional agency environments,

569
00:42:25.440 --> 00:42:33.800
but weren't actively job hunting. So chicky, there's a question

570
00:42:35.679 --> 00:42:37.159
listener to wrap up this segment.

571
00:42:39.280 --> 00:42:42.079
Yeah, so my understanding was that we would power through.

572
00:42:42.119 --> 00:42:47.360
But yeah, let's get to that. So to wrop up

573
00:42:47.360 --> 00:42:49.360
this segment, I mean, what are two of the most

574
00:42:49.400 --> 00:42:54.000
important action items that you'd recommend for business owners.

575
00:42:54.000 --> 00:42:59.800
Well, the first one is to audit your current onboarding

576
00:43:00.079 --> 00:43:03.800
process through the lens of your EVP, So you'll lit

577
00:43:03.880 --> 00:43:08.360
each element of your EVP and evaluate how well your

578
00:43:08.440 --> 00:43:13.679
onboarding experience demonstrates and reinforces these elements. For example, if

579
00:43:13.719 --> 00:43:19.679
your EVP promises exceptional professional development, does your onboarding include

580
00:43:19.719 --> 00:43:23.679
a structured career planning session? If it promises work life

581
00:43:23.760 --> 00:43:28.119
balance on new employees given reasonable workloads and clear boundaries,

582
00:43:28.760 --> 00:43:33.639
identify at least three specific improvements you can make to

583
00:43:33.719 --> 00:43:38.920
align your onboarding more closely with your EVP promises. And

584
00:43:38.960 --> 00:43:42.320
the second action item is to implement quarterly stay interviews

585
00:43:42.360 --> 00:43:46.239
with key employees, and these structured conversation should focus on

586
00:43:46.400 --> 00:43:51.360
understanding what they value most about working for your company,

587
00:43:51.719 --> 00:43:55.800
what frustrations they're experiencing and what would make their experience

588
00:43:55.880 --> 00:44:00.559
even better, and use these insights to continuously refine retention

589
00:44:00.679 --> 00:44:06.440
strategies and address issues before they lead to turnover, and

590
00:44:06.559 --> 00:44:14.079
document patterns across multiple interviews to identify system systemic opportunities

591
00:44:14.679 --> 00:44:20.440
for improvement. So, as we wrap up today's episode on

592
00:44:20.519 --> 00:44:25.000
becoming the employer of choice in your industry, that's similarize

593
00:44:25.039 --> 00:44:27.960
the key elements of our framework and how they work

594
00:44:28.079 --> 00:44:34.079
together to transform your ability to attract and retain top talent. Now,

595
00:44:34.079 --> 00:44:40.159
we began with the employee problem solution identification, deeply understanding

596
00:44:40.199 --> 00:44:45.400
the specific problems and frustrations that your ideal employees face

597
00:44:46.039 --> 00:44:50.760
with typical employers in your industry and developing innovative solutions

598
00:44:50.800 --> 00:44:55.639
to these problems. Now, we discussed research methods like stay interviews,

599
00:44:56.199 --> 00:45:01.440
exit data analysis, industry research, and compare editor reviews to

600
00:45:01.599 --> 00:45:08.360
uncover these insights. Next, we explored employment value proposition development,

601
00:45:08.880 --> 00:45:13.639
creating and articulating a compelling statement that clearly communicates how

602
00:45:13.679 --> 00:45:18.159
your company solves employee problems and delivers unique benefits that

603
00:45:18.199 --> 00:45:21.960
they can't find elsewhere. We provided a template for your

604
00:45:21.960 --> 00:45:26.480
crafting your EVP statement and strategies for effectively communicating it

605
00:45:26.519 --> 00:45:32.920
to a perspective employees. And finally we covered attraction and

606
00:45:33.039 --> 00:45:38.719
retention systems, implementing specific processes to find the ideal candidates,

607
00:45:38.920 --> 00:45:42.920
efficiently convert them to employees, and keep them engaged for

608
00:45:42.960 --> 00:45:46.920
the long term. And we discussed targeting sourcing referral program

609
00:45:47.559 --> 00:45:56.280
We discussed targeted sourcing referral programs, candidate experiences, onboarding growth paths,

610
00:45:56.320 --> 00:46:02.360
and systematic listening mechanisms. So the power of this framework

611
00:46:03.159 --> 00:46:08.159
comes from implementing all three components together and understanding employee

612
00:46:08.199 --> 00:46:14.119
problems without developing solutions won't improve your position. Having a

613
00:46:14.159 --> 00:46:19.639
great EVP without effective attention, attraction, and retention systems won't

614
00:46:19.679 --> 00:46:24.880
translate to results. The businesses that truly become employers of

615
00:46:24.960 --> 00:46:31.159
choice of those that excel in all three areas. Remember

616
00:46:31.480 --> 00:46:34.920
that becoming an employer of choice isn't about copying what

617
00:46:35.079 --> 00:46:39.400
large companies do or offering the highest compensation. It's about

618
00:46:39.440 --> 00:46:43.559
deeply understanding what matters most to your ideal employees and

619
00:46:43.639 --> 00:46:47.000
creating an experience that there lives exceptional value in those

620
00:46:47.039 --> 00:46:51.519
specific areas. And this approach allows even small businesses to

621
00:46:51.599 --> 00:46:59.079
compete effectively for talent against much of the logic organizations

622
00:47:00.000 --> 00:47:01.840
and so to get a copy of the book Powerful

623
00:47:01.880 --> 00:47:06.320
Business Strategy, simply go to our website www dot NEXTSTEPCFO

624
00:47:06.440 --> 00:47:11.280
dot net. It's totally complimentary and until next Monday at

625
00:47:11.280 --> 00:47:15.159
noon Eastern time for Chokey Obio. My name is Michael Baberita,

626
00:47:15.199 --> 00:47:20.280
and remember, don't keep doing what your competition is doing.

627
00:47:22.039 --> 00:47:25.119
You have been listening to Powerful Business Strategies finding out

628
00:47:25.159 --> 00:47:28.800
that everything you ever learned about growing your business is wrong.

629
00:47:29.119 --> 00:47:32.320
Tune in next week and every week at noon Eastern

630
00:47:32.360 --> 00:47:35.840
time on W four CY Radio with your host Michael

631
00:47:35.880 --> 00:47:40.480
Barbarita of Next Step CFO and moderator Chukey Obio