Welcome to this brand new series of the Wealthy Wednesday podcast. With me, Dave Drimmie, which we are calling People First Culture.
It’s the culture in a company that provides fertile ground for people to grow and develop into amazing colleagues. One of the biggest challenges to building wealth in a company is the lack of talent in the sector. In fact, since COVID hit, and especially in 2022, I kept hearing phrases like, there’s no talent left in our industry. It seemed to be a common complaint across the globe in multiple sectors when I was speaking to people. So in the summer of 2022, I conducted a quiz to uncover the biggest challenges that owners of companies in the construction sector were experiencing. Because that’s the sector I specialize in. Now. There were five core, uh, challenges that appeared. One, no roadmap for strategic growth. Two, they had poor sales processes. Three, unreliable cash flow. Four, difficulty in hiring amazing employees, and five, lack of work life balance. In fact, uh, 2022 left most business owners highly stressed out and in need of time off at Christmas. It was horrible. Some of the things I was hearing, really, really horrible. For both the individuals I was speaking to and the families, it was just awful. The quiz highlighted that 39% of people who owned a company had huge difficulty in finding, hiring, and then retaining amazing people. Now, with work life balance coming next at 27%, and the remaining three sitting roughly level with each other, it, uh, really was apparent that I wanted to focus on the aspect of hiring amazing people. Okay, so discussing this with business owners in other industry sectors, talent acquisition was also their own major challenge. So it wasn’t just construction alone. It was across multiple, multiple sectors. So our intention with this podcast series to unpack why this is the case and invite experts and guests on the show who really know how to hire amazing talent, how to retain them, and how to build culture that creates a fertile environment for them to grow and thrive. Because ultimately, when it comes down to it, the longer we can have employees working with us, and the more experienced they are, the better our business can perform. Because when we hire five star employees well, put it another way, if we don’t hire five star employees, if we’ve just got poor quality employees in the business, the business doesn’t perform as well as it possibly can. There’s no way we can grow and scale that company unless it’s some form of slick, automated sales machine. So that is really what we’re looking to do in this podcast series. It’s really just to help you to uncover how to hire, retain, and build culture in your company.
Link to Michel Falcon’s Book:
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