Here at Service Dealer Towers this week, we have putting the finishing touches to the next issue of the magazine, before it heads off to the printers.
Your copy should be with you during the first week of September (and if you're not already a subscriber to the physical edition, you can sign up for free here). Not wishing to blow any of our collective trumpets, but I must say it's a superb publication once again!
There are plenty of dealer and manufacturer articles to get your teeth into, as well as comprehensive reports from some of the early summer industry shows.
Also, as ever, we feature some fascinating opinion pieces from our regular, expert contributors. Sara Hey from BCI in the States talks about the importance of good documentation in dealerships; small business expert Adam Bernstein looks at new tax rules relevant to SMEs; and Jason Nettle of Winchester Garden Machinery, amongst other topical thoughts, considers the important role dealers play in reducing scrappage. All fascinating think pieces.
Staff retention
Elsewhere in the mag our all-knowing, industry-observing, mystery columnist The Sprocket has a say on the F.R. Jones situation and enjoys the start of the new show season. Pertinently, some column inches are also dedicated to discussing the value of staff retention for independent dealerships.
Now it's arguable that staff retention is an area that doesn't get spoken about as much as the recruitment of new staff does - but it is an incredibly important consideration for the heath of a dealer's business.
The Sprocket writes, "Companies need to keep a close eye on their staff and ensure that they are happy and comfortable in their jobs. It costs far less to hang onto a good member of staff than it does to recruit a new one."
This is so true and really shouldn't be underestimated. I did some reading online around the subject and there's plenty of ideas as to exactly why it is so important to keep valued team-members from having their heads turned by a competitor or an alternative sector.
In a niche industry such as ours, colleagues will possess specialised knowledge that clearly takes a lot of time to acquire. When experienced staff members stay with a company, they can pass on this expertise to others who join the dealership, ensuring a consistent level of quality. Another easy win for the business in keeping hold of staff is that long-standing employees will become familiar faces to customers, engendering trust and rapport. These relationships translate into customer loyalty, as your local clientele are more likely to return when they know and trust the staff.
A further benefit is likely to be that employees who have been with a company for a longer period often become more invested in its culture and values. Their belief in the dealership's ethos and their natural desire to see the business thrive, it is said, can positively impact teamwork, morale, and the overall work environment.
So how best to encourage this desired loyalty? Clearly pay and conditions are paramount - but as everyone reading this today with attest to, there isn't a bottomless pit of money to throw at keeping the best people, Therefore it's essential to offer a complete package to employees, to keep them from looking elsewhere.
Business experts talk about notions such as acknowledging and rewarding employee efforts. They advise implementing recognition programs that highlight great performance. Also key can be providing growth opportunities, such as training, workshops, and chances for advancement within the dealership.
Other ideas can include encouraging a healthy work/life balance, looking after staff's mental well-being, encouraging honest feedback and providing opportunities for ongoing learning. Areas such as these go hand-in-hand with fair pay to hopefully keep your key team members satisfied.
But what do you do in your dealership? Do you have any tips that you can pass on to other dealers for keeping colleagues from straying?
Please let us know any techniques you utilise, in the comments below.
