This week’s episode of the Elite Entrepreneurs podcast is a bit different. I’ve invited Stephen Woessner, CEO of digital marketing agency Predictive ROI and host of the Onward Nation podcast, to join me as guest host of Elite Entrepreneurs.
During our conversation, Stephen and I discussed two deep topics. First, how you can keep your finger on the pulse of what matters to your audience and quickly create helpful content. Elite uses what we call our Elite Business Advisory Group to get us “behind the scenes” of the struggles business owners moving from 7-figures to 8-figures are facing right now! Then we discuss the nuts and bolts of how to take that insight and turn it into actionable advice through events, podcasts, emails, blogs, etc. The ability to pivot quickly to provide useful information to your audience is a significant advantage in today’s world.
Second, we dove into what business owners have to overcome in today’s hot job market, and the challenges virtually every business owner is facing in hiring, onboarding and retaining talented employees in this hot job market. So many business owners see their relationship with their team as transactional: “I pay you and in exchange you do work for the business.” This transactional relationship often results in business owners thinking the best way to hire and keep their employees is to offer more money.
However, more money is seldom the solution to the hot job market. Instead, employees need three things to feel truly fulfilled in their work.
- Purpose – Employees want to feel that their work matters, that it is truly making a difference toward the success of the organization
- Growth – Your team members want the opportunity to grow within their roles, expand their skill sets, and make incremental gains in their careers
- Connection – Feeling connected to the team and feeling like a part of something bigger can help inspire loyalty
When you move beyond the transactional relationship by giving your employees Purpose, Growth and a sense of Connection, you create a work environment where they want to work, where they are invigorated and invested in the success of the organization as a whole. You’re offering them something valuable beyond just a paycheck. This doesn’t mean you shouldn’t pay well, but it does mean that your business should have something to offer beyond financial gains.
If you’re interested in taking a deeper look at the topic, I suggest you revisit episode #99 of the Elite Entrepreneurs podcast, “The Great Resignation: Stopping the Bleeding,” where I share in-depth strategies for meeting the challenges of the hot job market.
And if you’d like to learn more strategies that can help you break through the revenue plateau and fuel the further growth of your organization, I encourage you to explore our extensive library of past episodes of the Elite Entrepreneurs podcast filled with informative interviews with business leaders and experts at https://growwithelite.com/podcast/.