As a part of normal business operations, the cost of handover and training new staff always seems unavoidable. It can cost a business owner losing an entire month profit if it goes to the wrong direction. Here are some ideas that maybe helpful to smooth this process instead of costing you an arm and leg.
1.Hire the right people at the beginning. An ethical and reliable staff shouldn’t be a cost to a business. The activities of a right person always contribute to profit and gain. If he is leaving and doing a handover, he knows the effective way to handover and looks after your business even after he leaves. If he is the new staff taking a position, he should at least be competent to do the job that he is hired to do and be motivated to close the gap as fast as possible.
2.Have procedures. Procedures are an asset to your business, setting up the standard of work and keeping risks at minimum. It is not only a checklist of the current works but also an important document for training new staff and handover. Being lack of procedures always indicates a business still being at its infant stage and not having risks under control. A perfect procedure can deliver handover to a qualified new staff without another person involved at all.
3.Employ licenses and credentials. Whether it is a new software, or a designation, or a platform of operation, it is a minimum requirement to have your employees with the right qualifications. On job training is that the training is, as it says, “On the JOB”. If you are really passionate of training your staff without the “job” part, I would recommend you establish a school separately for this purpose and start collecting tuitions from your students. Your staff should already have these qualifications and licenses before they start the job. The role of the business is to give them the work experience and to point out the direction of their career.
4.Know when to stop. Set a budget of how long and by which date the handover is completed. Normally it is less than a week. There should be a fair understanding that how complex a job is and how long it takes for handover. Remember it is handover not tutoring. Make this transparent so your team knows your expectation. If it takes too long, it could be an indication of incompetency.
5.Look after your business’ assets. It also includes all security related matters, logins, passwords, entry cards and accesses etc. Sometimes it can be overlooked. It is always better to prevent anything bad happens before it’s too late.
There are many other things of course very important not mentioned. Please consult a human resource management specialist for further details. As an accounting firm, we observe this reflecting as an unreasonable cost to businesses sometimes. If we can point it out for you at an early stage, it will prevent further damage or even disaster as a result. We also offer payroll process and bookkeeping services for businesses who are interested to know how their performances are and point out some issues early. If you are one of them, we are always available to assist with your needs.