Dollars to Donuts Sarah L. Fogleman K-State Research and Extension Extension Agricultural Economist,...
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Transcript of Dollars to Donuts Sarah L. Fogleman K-State Research and Extension Extension Agricultural Economist,...
![Page 1: Dollars to Donuts Sarah L. Fogleman K-State Research and Extension Extension Agricultural Economist, SE 620-431-1530.](https://reader038.fdocuments.in/reader038/viewer/2022100501/56649f565503460f94c79dff/html5/thumbnails/1.jpg)
Dollars to Donuts
Sarah L. FoglemanK-State Research and ExtensionExtension Agricultural Economist, SE
www.agmanager.info
620-431-1530
![Page 2: Dollars to Donuts Sarah L. Fogleman K-State Research and Extension Extension Agricultural Economist, SE 620-431-1530.](https://reader038.fdocuments.in/reader038/viewer/2022100501/56649f565503460f94c79dff/html5/thumbnails/2.jpg)
Who contributes to your business?
You
Spouse
Children In-LawNeighbor
Part-time Employee
FriendFull-Time Employee
Seasonal Employee
Customer
![Page 3: Dollars to Donuts Sarah L. Fogleman K-State Research and Extension Extension Agricultural Economist, SE 620-431-1530.](https://reader038.fdocuments.in/reader038/viewer/2022100501/56649f565503460f94c79dff/html5/thumbnails/3.jpg)
Why are working relationships important?
You live with these people!
This is your livelihood!
![Page 4: Dollars to Donuts Sarah L. Fogleman K-State Research and Extension Extension Agricultural Economist, SE 620-431-1530.](https://reader038.fdocuments.in/reader038/viewer/2022100501/56649f565503460f94c79dff/html5/thumbnails/4.jpg)
Who is competing for ag labor?
• Farms
• Ranches
• Agribusinesses
• Any local employer who utilizes workers of similar competency
![Page 5: Dollars to Donuts Sarah L. Fogleman K-State Research and Extension Extension Agricultural Economist, SE 620-431-1530.](https://reader038.fdocuments.in/reader038/viewer/2022100501/56649f565503460f94c79dff/html5/thumbnails/5.jpg)
What brings employers and employees together?
Compensation
Reputation
Situation
![Page 6: Dollars to Donuts Sarah L. Fogleman K-State Research and Extension Extension Agricultural Economist, SE 620-431-1530.](https://reader038.fdocuments.in/reader038/viewer/2022100501/56649f565503460f94c79dff/html5/thumbnails/6.jpg)
Elements of successful compensation packages
• Direct compensation– annual salary, hourly wage, profit-sharing
bonuses
• Indirect compensation– legally required protection programs (SS,
unemployment)– voluntary employment incentives (health
insurance, retirement plans, paid leave)
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Developing a competitive compensation package
• Understand the needs of your employees– communicate– review regularly
• Understand the current labor market
![Page 8: Dollars to Donuts Sarah L. Fogleman K-State Research and Extension Extension Agricultural Economist, SE 620-431-1530.](https://reader038.fdocuments.in/reader038/viewer/2022100501/56649f565503460f94c79dff/html5/thumbnails/8.jpg)
Stay Competitive
• It doesn’t matter so much what your neighbors pay. It matters if they are more willing to meet your employee’s needs.
![Page 9: Dollars to Donuts Sarah L. Fogleman K-State Research and Extension Extension Agricultural Economist, SE 620-431-1530.](https://reader038.fdocuments.in/reader038/viewer/2022100501/56649f565503460f94c79dff/html5/thumbnails/9.jpg)
Reputation
The fastest way to get better employees is to be a better employer.
![Page 10: Dollars to Donuts Sarah L. Fogleman K-State Research and Extension Extension Agricultural Economist, SE 620-431-1530.](https://reader038.fdocuments.in/reader038/viewer/2022100501/56649f565503460f94c79dff/html5/thumbnails/10.jpg)
6 Steps to Being a Better Employer
• Communicate More
• Use Job Descriptions
• Recruit and Hire the right people for the right positions
• Provide proper training
• Lay out the ground rules
• Meet the employee’s needs
![Page 11: Dollars to Donuts Sarah L. Fogleman K-State Research and Extension Extension Agricultural Economist, SE 620-431-1530.](https://reader038.fdocuments.in/reader038/viewer/2022100501/56649f565503460f94c79dff/html5/thumbnails/11.jpg)
Employee Communication
Communication forgives most sins.the “hazard lights phenomenon”
![Page 12: Dollars to Donuts Sarah L. Fogleman K-State Research and Extension Extension Agricultural Economist, SE 620-431-1530.](https://reader038.fdocuments.in/reader038/viewer/2022100501/56649f565503460f94c79dff/html5/thumbnails/12.jpg)
The Communication Test
• Every person within your business should be able to make the following 4 statements:
– I know what to expect.– I know what’s going on.– I know how I am doing.– I know how we are doing.
![Page 13: Dollars to Donuts Sarah L. Fogleman K-State Research and Extension Extension Agricultural Economist, SE 620-431-1530.](https://reader038.fdocuments.in/reader038/viewer/2022100501/56649f565503460f94c79dff/html5/thumbnails/13.jpg)
Step 2: Use Job Descriptions
![Page 14: Dollars to Donuts Sarah L. Fogleman K-State Research and Extension Extension Agricultural Economist, SE 620-431-1530.](https://reader038.fdocuments.in/reader038/viewer/2022100501/56649f565503460f94c79dff/html5/thumbnails/14.jpg)
Job Description
• Basic framework for all HRM practices
• Combines job analysis and specification to outline the entire position
• Establishes goals and objectives
• Always subject to change--should evolve with the employee and the job
![Page 15: Dollars to Donuts Sarah L. Fogleman K-State Research and Extension Extension Agricultural Economist, SE 620-431-1530.](https://reader038.fdocuments.in/reader038/viewer/2022100501/56649f565503460f94c79dff/html5/thumbnails/15.jpg)
A Job Description
• Should include:– Title– Position Summary– Qualifications– Opportunities and Responsibilities– Clear Performance Expectations
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Step 3: Hire the Right People for the Right Positions
Not every person is well-suited for every position.
Not every position is well-suited for every person.
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If you don’t have time to do something right the first time,
how are you going to find time to do it a second time?
• This is never more true than when talking about employee selection
![Page 18: Dollars to Donuts Sarah L. Fogleman K-State Research and Extension Extension Agricultural Economist, SE 620-431-1530.](https://reader038.fdocuments.in/reader038/viewer/2022100501/56649f565503460f94c79dff/html5/thumbnails/18.jpg)
Evaluate the Applicants
• Hurdles– -written applications– -written tests– -oral tests– -interviews– -practical tests– -reference
• Job Preview
• Let them interview you
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Step 4: Provide Proper Training
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The Training Process
• Teach newcomers the language• Allow plenty of time• Be aware of business / community
adjustments• Remember, everyone needs training
– experienced new employees– inexperienced new employees– existing employees
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Step 5: Lay out the Ground Rules
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Don’t be put into a situation where it looks like you are making
the rules up as you go along
• Use clearly defined policies and procedures
• Communicate those things to your employees
• Allow your employees to have a voice when establishing these tools
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Step 6: Meet Your Employee’s Needs
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Compensation
It’s not about money.
It’s about meeting your employee’s needs
• Communicate with your employees – components and details of current package– needs for future packages
• Review your package regularly
• Be flexible and innovative
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Everything about your compensation package sends a
message.
![Page 26: Dollars to Donuts Sarah L. Fogleman K-State Research and Extension Extension Agricultural Economist, SE 620-431-1530.](https://reader038.fdocuments.in/reader038/viewer/2022100501/56649f565503460f94c79dff/html5/thumbnails/26.jpg)
Use the right carrots
• A compensation package must align with the business’s– mission– vision– values
• People will respond to compensation incentives– you have to use the right incentives to get the right
responses
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Situation
![Page 28: Dollars to Donuts Sarah L. Fogleman K-State Research and Extension Extension Agricultural Economist, SE 620-431-1530.](https://reader038.fdocuments.in/reader038/viewer/2022100501/56649f565503460f94c79dff/html5/thumbnails/28.jpg)
Most situations can’t be controlled
• Make an effort to allow positions to evolve with employees
• Be flexible
• Be innovative
• Know when to cut your losses
![Page 29: Dollars to Donuts Sarah L. Fogleman K-State Research and Extension Extension Agricultural Economist, SE 620-431-1530.](https://reader038.fdocuments.in/reader038/viewer/2022100501/56649f565503460f94c79dff/html5/thumbnails/29.jpg)
In conclusion,• Finding and keeping quality employees has never
been more difficult.
• With compensation, be more concerned with the employees’ needs than what your neighbors are paying.
• Promote yourself as a valuable employer.
• Understand that when situations change, so do work relationships.
![Page 30: Dollars to Donuts Sarah L. Fogleman K-State Research and Extension Extension Agricultural Economist, SE 620-431-1530.](https://reader038.fdocuments.in/reader038/viewer/2022100501/56649f565503460f94c79dff/html5/thumbnails/30.jpg)
www.agmanager.info