This is my first column after being installed as the 39th president of the American Rental Association, as well as the first president in the new millennium. Looking back over the past 10 years of consolidations, increased competition and challenging employee issues, one can only wonder at what the next 10 years hold for us in this business.
In the coming decade we will see a greater focus on enhancing profits by establishing higher rates to improve our return on investment; managing our health, property and casualty insurance policies more effectively; and rising to meet the challenge of more stringent, "killer" government regulations.
Now, just because I've nailed the hard stuff right off the bat, don't think for a moment that I can begin to address all the issues that we'll face over the next 10 years in this first column. I'll be the first to admit I don't have all the answers, but I would like to address issues in this column that I feel are important and helpful to our members. In the coming months, I will give attention to the past and speculate on the future of the rental industry.
This month I'd like to discuss the issues of finding, hiring and retaining good employees. Something we have to remember in a shrinking job market is that the good employees are already working. Since you are probably your own human resources department, you must keep your eyes open as you do business in your community and always carry a few extra business cards to hand out when you meet one of those good employees. If you find you're getting outstanding service from someone, say to that person, "If you're ever looking for a career move, let me know. I think you'd be an excellent asset for my company." I was in this situation some years back and ended up with a wonderful manager who stayed with me for eight years.
Next, remember the single most important way to keep good, loyal employees is to treat them just as you would like to be treated. Provide a company atmosphere where your employees are well respected, feel appreciated and are compensated for a job well done. Do this, and your employees will tell others what a great working environment they have. This will open up a whole new avenue for prospective employees.
Lastly, consider paying your employees to help you build a strong team. Offer incentives or bonuses for referring a potential new hire. It's important that your team like and respect one another. Congruity among your staff will make your workplace a happier one, and your company more successful.
That's all for this month. I hope I've given you something to think about.
Copyright © 2000 American Rental Association. All rights reserved.