Your MSP company has people working for it, not job titles. Your employees aren’t a conglomeration of digits with self-consciousness, they’re self-conscious individuals who have wants, needs, hopes, and desires. If your MSP doesn’t respect this, you’re going to have higher staff turnover. If you acknowledge and cater to this reality, you’re very likely to expand retention.
One way to acknowledge your staff’s humanity is to give employees something to aspire to, and opportunities to demonstrate their worthiness to advance. You want to give them a career path, and you can use statistics to help you establish such a program.
Compare your average rate of retention to outliers in categories of long and short service. How many in management climbed the ranks, and how often does a position representing promotion open? Are there incentive-rich positions where an employee can write their own ticket to profitability through persistence?
Designing a career path can be complicated. Today we’ll highlight three points for your consideration when outlining advancement opportunities for your teams.
First, your MSP company needs to determine if career opportunities exist. They likely do; especially if you’re profitable and expanding outward as you should. If you’re a start-up, those who fight the good fight with you through the initial years of operation will likely have a controlling stake of the company, which will ideally continue to grow until it is a localized institution.
If you get to the point where your business has 100 employees, then there is very likely opportunity for career advancement. But you need to know where you are, where you’re going, what it will take to get there, and how best to represent your workers. If you don’t have prospects for a career path, but you can design one, that may be worth doing.
Do Workers Know?
If you do have career path opportunities, it’s wise to ensure your workers are appraised of the fact. They need to know your business can do more than just provide them rent and sustenance: it can provide them increasing levels of success which reduce their need to work hard, while increasing their profit. You need to recognize when employees do well enough to advance, and you need to constantly transition workers forward as possible. Some will prefer to tread water, others will truly strive to succeed. You want every employee to have a passionate forward plan that is rooted in your firm’s success. Having a career path can initiate competition among staff, which can help drag even laissez-faire workers toward an attitude of determination organically.
None of this will work if your business doesn’t have the right level of structural support. You need to have protocols in place that help your business sustain the load generated by employees being promoted. With any new position, there will be mistakes, and training will be necessary. Additionally, a void will need to be filled. Ideally, as employees climb the ladder, those beneath them become eligible for their vacated positions. But at the bottom, this likely means hiring new workers. This isn’t bad if your business is profitable. It means you’ve scaled out, if slightly. You should be scaling outward as a business. So be careful that however you do things, you plan accordingly.
Satisfied Employees Lead to Satisfied Customers
When your MSP company gives its workers a good reason to stick around and simultaneously devote their energies toward successful operations, a byproduct is likely to be more satisfied customers. Those who are promoted have increased loyalty to the company. They begin to think in a more managerial way. They begin to understand that when your business does good, they do good. It’s a win-win, “you-scratch-my-back-I’ll-scratch-yours” situation. So, examine your current operational structure, determine if there are career advancement opportunities available, make them visible, and ensure proper structural support. These actions will improve employee retention and enhance your firm’s long-term success.