My Home Office Virtual Services

Name: My Home Office Virtual Services
Address: Phoenix, AZ, 85018, US
Telephone: +16025055362

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My Home Office Virtual Services

Virtual Accounting, Administrative, Human Resources, Marketing and Business Operations Analysis Serv S. The temp. who just walked in the door?

My Home Office provides a full line of business services for Small and Medium Sized Businesses in the virtual arena. The small and medium sized business sector is the engine on which the U. economy is built and My Home Office capitalizes on the success of this sector by taking advantage of cloud technology. My Home Office provides extensive administrative, sales and marketing, accounting, human re

sources and computer skills and education along with a professional demeanor. The whole concept of My Home Office is based on the fact that a lot of small and medium sized business owners are consistently overworked. How many of them focus on their primary business during the day, only to come home at night and have to do their bookkeeping, do a marketing presentation for a new client or decide how to deal with that employee who just made a major mistake that cost the business owner that client they worked so hard to lure in? Sure, they could hire a temporary service or an individual that just does bookkeeping. The flip side of that is, with a temporary service, the worker that they send in could change from day to day, the bookkeeper is great at QuickBooks, but do they see the whole financial picture? And who’s going to deal with that employee that screwed up? My Home Office is the solution. We can offer you a complete solution or you can take what you need and leave the rest. The way we work is in teams. A team consisting of an accountant, administrative assistant, a sales and marketing rep. and a human resources professional works with several different companies. In that sense, you have a cohesive team and are always getting the same group of people. At the same time, because they work for several companies at once, the small and medium sized business doesn’t carry the entire cost of the team, it’s divided up among several different companies. That means employee benefits and taxes, as well as overhead are absorbed by My Home Office and the small and medium sized companies get the services they need. It also makes the client look good when dealing with other professionals. If someone calls and says, we didn’t get our bill paid, the business owner says, “Call my accountant at My Home Office.” They look good. Because they are currently the only virtual business service company that allows for a consistent team of business support professionals focused on offering a complete business package of administrative, sales and marketing, accounting, human resources and computer services in addition to á la carte services that are tailored to each businesses needs that is located in the Virtual arena, My Home Office has a substantial opportunity to dominate the genera. My Home Office maintains the following advantages over existing competition: on going, consistent support to clients; extensive knowledge of the intricate business services offered; superior customer service; specialized training programs for staff; competitive rates.

12/30/2018

How to Consistently Increase Conversion

Marketing executives are challenged to get consistent performance out of their teams and agencies just as their manufacturing, engineering and business process peers do.

MECLABS Institute created the Conversion Sequence Heuristic in 2007 to provide marketers with a process improvement tool. Marketing leaders have used it to help their teams and agencies consistently take a customer-first approach to their initiatives — no longer relying on individual star performers who just happened to have the “golden gut.”

The conversion sequence heuristic is not a formula to solve. Rather, it is a thought tool to help marketers see their messaging through the eyes of the consumer and optimize the factors that influence conversion.

Probability of Conversion

You can never guarantee conversion, but by using this methodology, you can increase its probability. Make sure to choose conversion objectives that serve your ideal customer.

Motivation (of the Customer)

The numbers in front of each letter indicate its impact on the probability of conversion. Tapping into your potential customers’ motivations has the biggest effect on conversion, so it is represented with the largest coefficient.

Clarity of the Value Proposition (Why Act?)

Your value proposition is the appealing, exclusive, credible and clear answer to the question, “If I am your ideal prospect, why should I buy from you rather than any of your competitors?”

Incentive to Take Action

When brands don’t ask for customer-first conversions or have a true value proposition, they try to compensate by overdoing incentives. Incentive is paired with friction in the heuristic because it should only be a little extra something that helps overcome friction, not the entire reason for the customer to act.

Friction Elements of the Process

The minus signs in the heuristic indicate elements that hinder conversion. Friction is an aggravation factor, a psychological resistance to elements in the conversion process.

Anxiety About Providing Information and Receiving Value

Anxiety is another aggravation factor. It’s a psychological (and not always rational) concern stimulated by a given element in the conversion process. Anxiety and friction can never entirely be eliminated, but you can optimize your marketing initiatives to reduce the impact of these elements on conversion.

12/02/2018

Audience Analysis – A technique to help with Business Change

This is to emphasis why ‘Audience Analysis’ is crucial for embedding business change successfully and to further elaborate how this technique could be better performed in the context of business change implementation. Let’s start with a basic definition and aspects of Audience Analysis in perspective of public speaking.

Audience Analysis is a process for knowing your audience holistically i.e. demographically, psychographic and by using contextual/situational information. This is an enabler to convey your message successfully and to ensure it is relevant.

Demographic analysis helps to know who your audience are. Depending on your topic and message, some of the questions will be

relevant and some will not. For example – A talk about investment options would be very different if you are speaking with university students versus a group of retired people. So you would want to know age group. “Race, culture, or ethnicity” as this might impact your message, choice of language, gestures, and other aspects of your speech.

Psychographic analysis helps to discover what your audience may be thinking before and during your presentation. It covers both the knowledge (or lack of knowledge) and the beliefs of your audience. Are they neutral, or are they predisposed to agree with or oppose your message? What are the most important values to the audience? (Or, what are the values of their organization?). It’s important to know what they value as these are often the best starting points upon which you can build your arguments.

11/12/2018

A Step-by-Step Guide to Responding to Allegations of Sexual Harassment in the Workplace

Leaders often feel uncomfortable and unprepared to respond to these allegations when they arise.

We hear a lot these days about creating a "speak up" organizational culture, but we don't hear nearly as much about how to listen and truly hear the messages our employees may bring to us. It's never good news; it's always a bad time; it's often costly; and it's doesn't reflect the way we want to see our organizations and our leadership.

Recently, this challenge of listening for values has received a lot of attention around the alarming number of allegations of sexual harassment and abuses of power that have surfaced in business, in the sports arena and in the realm of politics. The good news is that this misbehavior is getting attention and being roundly condemned. The bad news is that it appears to be more prevalent than anyone wanted to believe. The challenging news is that leaders often feel uncomfortable and unprepared to respond to these allegations when they arise.

Research and experience have shown us that if we want to encourage individuals to voice and enact their values in the workplace, an effective strategy is "rehearsal": that is, pre-scripting, practicing and peer coaching around the words and actions that will be successful when we want to correct an errant practice. In my work at the University of Virginia's Darden School of Business, specifically the Giving Voice to Values platform, I have recognized that leaders require the same sort of rehearsal when it comes to the question of how to "hear" these difficult messages when they arise.

There are a few strategies that can be useful. Recognize that there are two components to an effective response when an employee raises an allegation of sexual harassment: first, managing ourselves and second, responding effectively to the employee.

Regarding managing ourselves, recognize that the first response may well be emotional for all the reasons mentioned above (bad timing, bad news, fear of costs, fear of reputation damage, even concern whether the allegation is genuine). There are a few tips for managing these emotional reactions, regardless of the nature and severity of the allegation:

1. Pause.

Breathe before you speak.

2. Affirm the issue's importance.

Let the messenger know that this is an important issue and that we take it seriously: I appreciate your raising this issue. It is important and critical to our organization that we treat each other with respect.

3. Buy time, if necessary.

If the messenger has caught you off-guard, in a public place or at the end of a meeting, you can tell the employee that you want to give the issue the attention it deserves and set a time for a dedicated conversation about it.

4. Commit.

Assure the messenger that you want all the information; that you are assigning a dedicated and appropriate individual to investigate. Explain that you may not be able to share every detail along the way, due to legal requirements and a responsibility for fair treatment and privacy, but you will make sure that the messenger knows everything that you can share and that you will "close the loop" with him or her.

5. Set expectations about timing.

Give the messenger a sense of what sort of timing they can expect with regard to your circling back with any updates and the closing of the loop, so they are not left wondering about your seriousness.

6. Set expectations about public communication.

Explain what you can and cannot say during the process of investigating the allegation, so the messenger does not "fill in the gaps" with their own -- perhaps inaccurate -- interpretations.

7. Repeat step two.

Affirm that this is an important issue and that you take it seriously: I appreciate your raising this issue. It is important and critical to our organization that we treat each other with respect.

And most importantly, mean what you say! Often, we find ourselves reacting emotionally, defensively or fearfully, and then say things that we don't really mean. As a result, we can feel caught in our words and find ourselves digging in our heels and going down a path that we never meant to travel. By literally rehearsing what we can say and thinking through what we truly feel, we can be both less emotional and more genuine.

This "rehearsal and pre-scripting" is not intended to be a rote exercise, or a memorized speech. It is intended as a way for us to connect with our true commitment to the health of our organizations and our respect for our employees, so a momentary emotional reaction does not over-shadow our true best selves. The most important message we can give the employee who reports sexual harassment is that of authentic concern and a commitment to address any misconduct that may exist.

09/15/2018

Create a successful content marketing strategy

Content marketing is creating, publishing and promoting value-based content to attract your target audience so they get to know, like and trust you. But content marketing should not be done without a well-thought-out content marketing strategy.

All major marketing activities require a well-planned strategy. Without a strategy, marketing activities become random and unfocused. Not having a strategy wastes resources on tasks that don’t help you achieve your goals. And many times, without a strategy, your marketing activities are not focused on the things that help you reach your ideal client.

What is a content marketing strategy?

A content marketing strategy is about creating a plan to provide relevant, valuable content and promoting it on the marketing channels that best reach your target audience. You need to match your content to the needs and desires of your audience so that you educate them and become memorable.

By providing quality content, you become known as a trusted expert and advisor in your industry. This helps to build your online brand presence, making your business more visible. And one of the most important aspects of content marketing is that it helps attract new visitors and turn them into qualified leads.

Before you start creating content, answer the following and create your content marketing strategy.

What do you want to achieve?

Determine the goals for your content marketing efforts. Do you want to:

• Attract new visitors
• Generate more leads
• Grow your email list
• Develop an expert reputation
• Build brand awareness

By knowing what you want to achieve, you can align the content with those goals so that it delivers actionable results.

Well written blog posts shared on relevant social media sites can drive more traffic to your website, help you build brand awareness and develop an expert reputation. Blog posts are good for visitors in the early part of their buyer’s journey.

Ebooks and whitepapers are more useful for visitors who have learned about your business and want to get further education on how you can help them.

Creating a content marketing strategy will help ensure that you focus all your time, energy, and money on reaching a goal that is important to your business.

What does your target prospect want?

Creating content that connects with your audience is hard. What does your target audience want to know? What challenges or pain points are causing them to look for a solution?

You need to intimately understand your audience and the buyer’s journey and your content needs to be aligned with steps along that path.

Perform a content audit and organize it by type (blog posts, articles, white papers, videos and presentations) and by topic to determine where you need to fill in the gaps. Use this information to lay out your editorial calendar that will be your content road map going forward.

How often will you publish?

The challenge for most small businesses is to provide engaging content on a consistent basis. Finding the time to implement a regular and consistent strategy is very difficult. The key to success is to do what works for you base don your time and resources. Small businesses need to focus on providing quality content on a regular schedule, even if that schedule is only once or twice a month.

Set the schedule for publishing new content in your editorial calendar. Having set dates for publishing can help remind you that it’s time for new content. Otherwise, time will pass and no content will get published.

Be realistic. Plan a schedule that can work for you and stick with it as best possible.

Where will you promote your content?

Great content that is hidden is not supporting your strategy. Determine where you will promote it, based on where you can reach your target audience. Make it easy for others to share your content broadly.

• Add a visible subscribe button on your blog and don’t
forget to allow visitors to subscribe via email.
• Sending content in the form of a series of emails to your
list
• Add social share buttons to your website so visitors can
share your content to their friends and followers.
• Share your content on the social sites that you use.
• Syndicate your content to sites

How will you measure your effectiveness?

Measure your results based on how effective you are at achieving your goals. If you want:

• More inbound leads, is your content helping?
• To grow your email list, is your lead magnet attracting the
right audience?
• To become known as an expert in your industry, is your
content projecting that image for you?

Track and measure your efforts so you can adjust if necessary.

Content creation is the basis of inbound marketing

Remember that content creation is the core of your inbound marketing strategy and needs to be done regularly for it to be effective. Good content gets found, consumed and shared, fueling more traffic to your website and giving you an opportunity to build trust, credibility, and authority for your business.

Are you going to create a content marketing strategy for your business?

08/21/2018

Why Niches Are the Next Growth Opportunity

As personalization increases, brands will find growth opportunities in niches rather than mass markets

Growth looks small these days. Most large, multinational brands are finding it difficult to grow not because growth is unavailable, but because when growth looks small, big brands struggle to see it. This shift is here to stay.

An analysis by the Financial Times Stock Exchange reported that profits for its more than 700 global firms located in developed markets declined by a jaw-dropping 25% in the five years prior to 2017. Yet at the same time, profits of smaller, national firms rose by 2%. Admittedly, profits aren’t the same as revenue, but this pattern of profitability is illustrative of the shift in the marketplace.

More to the point, an analysis by the competitive intelligence firm Craft found that the combined sales of Fortune 500 firms dropped from 2014 to 2016, largely due to poorly performing large companies, which have a disproportionate influence on aggregate results. When individual firms were broken out and assessed, nearly twice as many grew as shrank. Growth was occurring, just among the smaller firms, not the large ones.

From 2013 to 2015, Kantar Worldpanel tracking of fast-moving consumer goods (FMCG) categories worldwide showed a shift of nearly two points of aggregate share from global brands to local and regional brands. Boston Consulting Group has estimated that from 2011 to 2016, the shift of share from large to small or midsize FMCG firms in North America totaled $22 billion in topline sales, and Europe experienced a similar shift.

The mounting clout of local brands is visible in the WPP/Kantar Millward Brown BrandZä Power Index as well. For example, the power of local Chinese brands has been growing. In 2016, for the first time, the average power of local Chinese brands exceeded that of multinational brands; 15 domestic brands are now in the Chinese Top 100 ranking, up from seven in 2010 and just one in 2006. Similarly, in India from 2014 to 2017, there was an increase in the number of local brands in the Indian Top 50.

Across the board, the big propositions that dominated the marketplace in years past are now behind the curve when it comes to the future. Certainly, big firms still earn most of the revenue, but they no longer dominate growth opportunities or command much, if any, of the growth. Smaller brands are producing most of the dynamism that is churning the marketplace. Globally, this is compounded by the fact that in emerging markets—which will account for the bulk of growth in future demand—the consumer preference for smaller brands over big brands jumped from 46% in 2016 to 54% in 2017, according to Kantar Consulting Global MONITOR.

Shifts in demand are not new; companies have dealt with them successfully before. But this time, shifts in demand are part of an historic pivot in the marketplace. Big, established companies have built their position by mastering a particular confluence of macro forces, consumer lifestyles and competitive situations, but those forces have shifted, and lifestyles and market demand have changed as consumers have adapted to new conditions. Big companies entrenched themselves in the old environment, embedding their outlook and operations to monetize it at scale, but competitors have moved into this evolving configuration and found growth outside the boundaries of the previous environment.

When change is contained and uncomplicated, big companies can migrate in measured ways that sustain their dominance through the barriers to entry they have erected. But change doesn’t look like that anymore. Incumbents now find themselves a step behind new, smaller competitors that move with greater agility and speed. The advantages of size have been lost to outsourced production, expanded retail options and digital marketing channels.

Going forward, mass markets will not be available. Every brand knows this, but the imperative of scale keeps big firms from following the ongoing shifts in demand. The first requirement of growth is to identify an available market large enough to scale. Conventional metrics favor a big, cohesive opportunity, so the comfort zone in which most companies have operated is to scale mass markets into big brands. Even strategies like segmentation that divide mass markets into smaller pieces are just tools to give companies manageable entry points into mass markets.

Nowadays, growth opportunities are coming more from the edges than the center. In accordance with the insights surfaced by Kantar Worldpanel and others such as Byron Sharp (author of How Brands Grow), companies are adopting pe*******on strategies on the notion that brands are built by growing the number of buyers, not by deepening the loyalty of buyers. Inherently, this means achieving scale by adding up small, disparate niches.

The standard operating procedure of scaling one product for everybody is not transferable to a marketplace that requires customization for niches, particularly personalization for niches of one. Scale is still needed, but the available market will be an ensemble of individualized, granular pieces, not a single, unified base. Success will come from scaling small niches into big brands.

Some experts have characterized the scaling of niches as a “conglomerated niche” strategy in which production, delivery and marketing have to be done for an aggregation of small batches. Companies that have begun to make this transition are finding that it requires relocating production facilities closer to buyers, digitizing supply chains, utilizing predictive technologies, adopting faster learning systems that guide production and employing greater flexibility in procurement and hiring. In effect, a whole new way of working.

Brands will have to master “reverse segmentation,” which is to say, putting lots of small things together rather than breaking one big thing apart. In the past, mass markets were segmented from the top down into smaller pieces. Going forward, niches will have to be aggregated from the bottom up into bigger pieces that give companies a sizeable enough platform on which to scale niches into big brands. Many of these new segmentations will be problem-specific, and all of them will require rich, integrated data sources.

Companies that are growing nowadays are not encumbered by the weight of expensive assets or large investments; they can innovate and adapt at speed. They thrive by trying new angles. This is the only way to win at a small scale.

Big brands are lumbering giants that have always relied on a large footprint to keep erosion and irrelevance at bay. In today’s environment, big brands must make a conscious effort to fight off the risk aversion inherent in large organizations. Innovation scholar Clay Christensen once said that mustering the resources it takes to compete outside a company’s comfort zone is like flapping one’s arms in an effort to fly because it runs contrary to the ingrained ways in which big companies work. But big brands have to do better. Otherwise, they will not measure up to the challenges or enjoy the opportunities of a marketplace in which growth looks small.

07/22/2018

Key Trends in Business Analysis to Leverage for Exponential Business Growth

The Cloud has emerged as the most prudent solution to enhance organizational agility and efficiency

It’s a fast-moving world we live in today, and more so, in terms of the pace at which more and more new technologies are emerging across business environments. Be it due to the constantly evolving social trends or changing customer expectations, organizations are increasingly realizing the need to respond quickly to customer demands. Organizations that do not innovate and adapt to changes in the market face the risk of losing their market share. Today, Business Analysis as a new technology domain is changing at an exemplary pace. Thus, in order to remain relevant, Business Analysts must adjust the index of their learning barometer to survive and prosper. Here, then, are some of the key trends that are disrupting business processes, and have the capacity to ensure a steady growth trajectory for businesses in the today’s technology-driven business environment:

Proliferation of New-Age Technologies and Processes

The business environment is slowly gravitating towards new-age technologies like Machine Learning, cloud computing, application portfolio optimization and DevOps. As a result, business analysts will also need to not only acquaint themselves with these technologies, but also be sufficiently adept at them in order to be able to advise their respective organizations on potential applicable solutions. Another technology trend that’s making big waves is the Internet of Things (IoT). Considering how the number of interconnected devices and their associated sensors are set to exceed even the number of humans on the planet, this technology will lead to a tremendous amount of data being generated over the next couple of years. For any kind of meaningful derivatives to be drawn from this wealth of data, businesses will need to extensively leverage Big Data tools and practices. BAs who understand Big Data concepts and how to mine data for business insights are already and will continue to be, in high demand.

The Need for ‘Agile’ Business Analysts

Business Analysts who are yet to adopt Agile-like lean practices will face challenges down the road to find a place for themselves, considering the mounting pressure to “be agile” and provide what customers demand – faster time to market with robust delivery. In the current scenario, analysts are increasingly expected to take an ownership and custodian level position in projects to not only perform analysis but also to create additional value by performing multiple roles like product owner and scrum master. In addition, they must also approach projects with a focus on business value, as well as functional and technical feasibility supplemented with the user experience. In some organizations, business analysts are participating vigorously in Agile projects, working in collaboration with product owners, while others are joining development teams and performing functions like testing and change management. Hence, business analysts may consider making a tactical shift away from being a liaison between stakeholders, to focusing more on playing a transformative role in change, communication, and collaboration management.

Many large organizations have already adopted Agile, albeit in a ‘tweaked and customized’ manner. However, in order to help such organizations, adopt Agile across the enterprise, analysts will require skills not pertaining to Agile, but also gain comprehensive knowledge of the application workflow states, and find ways to collaborate with stakeholders to reach a consensus on future Agile workflow states. This will enable them to positively influence projects, resolve any possible conflicts, and think creatively.

The Impact of Digital Transformation

Business analysts should waste no time on capitalizing on two trends emerging in the digital hemisphere – Cloud Computing and mobile applications. These two technology trends will continue to affect the business analysis, with respect to heavy-duty functional and non-functional requirements including security, accessibility, recoverability, usability, and user experience.

Cloud Computing

Today, when organizations are ruthlessly driving down costs while dealing with the increasing demand for quick delivery of more information, Cloud has emerged as the most prudent solution to enhance organizational agility and efficiency. In this rapidly changing environment, business analysts are becoming catalysts of change, helping to guide the transformation that is underway. The deployment of cloud computing has massive constructive implications for business organizations. Hence, business analysts must assume a critical role in helping manage that change. There are many tasks related to cloud computing that a business analyst may take on. A few examples include managing technical requirements, re-engineering business processes to ‘customize’ the cloud solution, negotiating Service Level Agreements with cloud providers for better benefits, and monitoring performance of cloud environments to ensure the business runs 24x7, without any hiccups.

Mobile Applications

Perceptive business analysts who are quick to identify the merits of mobile applications will be better able to define the requirements of harnessing its benefits to meet business goals, define potential problems, and re-invent business processes.

Data and Analytics

The various skills needed to leverage and apply business intelligence/data into the organization’s processes include data analysis, data architecture, data presentation and predictive analysis. The most probable role out of these that is relevant to a BA is data presentation. This requires a BA to use state-of-the-art tools like Tableau and other related applications to provide insights about what business data.

UI/UX Design

Making User Interfaces (UI) more appealing and equipping them with robust abilities to enable enhanced user experiences (UX) encompasses a discipline that applies specific techniques, methods, and processes to maximize user satisfaction when interacting with technology. UX design is especially hot property in the current times as new technologies are constantly evolving and changing the way people interact with computers. In addition, Virtual and Augmented Reality will increasingly demand new ways of giving commands and interfacing with computers. At its core, UX design is another way of figuring out a business need. It, therefore, has a lot in common with business analysis. It is, then, not too difficult for a BA to gain UX design expertise if s/he wishes. Moreover, there are business analysis functions that complement UX design including requirements, usability testing, and ultimately ensure customer satisfaction.

07/02/2018

How to measure HR using something called ELTV, or 'employee lifetime value.''

Most entrepreneurs are eager to measure the return on investment (ROI) of their business practices and strategies; I’m no different. But what really intrigues me is figuring out the ROI of categories that are traditionally -- and notoriously -- difficult to measure, like HR and culture.

With that in mind, I sat down to chat with Maia Josebachvili, a well-known expert in the area of "People Practices," meaning employee-recruitment culture and engagement. Currently the VP of marketing and strategy at recruiting software provider Greenhouse, Josebachvili has had an impressive career that's included stints as a Wall Street derivatives trader, founder of Urban Escapes and senior director at LivingSocial.

People Practices, Josebachvili told me, have “a known cost with an unknown return,” in that executives have traditionally struggled to measure the financial impact this area has. For that reason, they've tended to underinvest in it.

In our interview, Josebachvili began the conversation by sha
ring the framework she personally uses for measuring HR: something she calls employee lifetime value (ELTV). As illustrated in the chart below, ELTV measures the value an employee brings to an organization, from his or her first day to the last (see graph 1)

As Josebachvili explained: “When we first hire you, you're technically a negative contribution, because we spent time and money recruiting you. Then the line goes up, and eventually into the positive area, symbolizing the onboarding process to becoming a contributing employee. The line continues to increase over time, as you grow and develop as an employee, until you leave the company.”

The concept of ELTV rests on four inputs, each of which can increase or decrease an employee’s lifetime value: hiring, onboarding, development and culture. In that way, an increase in ELTV doesn’t rely simply on the number of years an employee is with the company. “If you’re better at recruiting, and hire a better person, that individual’s ELTV is going to be higher,” Josebachvili said. “If you’re really good at developing them and making them a stronger contributor over time, their ELTV will grow that way, too.”

The staggering return on good HR practices

To illustrate the impact of ELTV in practice, Josebachvili shared a case study example (the full version of which can be found in her LinkedIn article on the topic). In the example, she studied a salesperson since it’s relatively easy to calculate the revenue associated with that role; but a similar calculation could be used for any employee.

To start, Josebachvili compared two fictitious companies to show how much impact even small improvements in People Practices can have.

Fictitious company No. 1 is a standard organization with average People Practices. Company No. 2 is one with slightly better, more optimized People Practices. By implementing those more optimized People Practices when it hires the hypothetical salesperson, Company No. 2, Josebachvili said, sees the following results (according to her research) from the four inputs mentioned above:

• Hiring: The salesperson is a better initial hire, outselling peers by 20 percent.
• Onboarding: A better onboarding program decreases the salesperson’s ramp time by 30 percent.
• Development: Better management and development practices improve the salesperson’s performance by 20 percent in a year.
• Culture: Better culture and management practices add a year to the salesperson’s tenure.

Josebachvili called these estimates conservative -- the real impact could be even greater, she said. But even with the numbers in this case study, the difference between an average company and one with slightly better People Practices -- for that one theoretical salesperson -- over three years would represent an extra $1.3 million in net revenue, Josebachvili said. That’s a staggering return for even just a small investment in People Practices, in areas like hiring, management and culture.

Looking at Josebachvili's ELTV metric, we can easily see how different People Practices can impact an employee’s value. In the chart below, note how moving each of those inputs could significantly increase ELTV. (see graph 2)

Circling back to “known cost with unknown return,” Josebachvili said she had found that, “Many organizations are really scared to spend an extra $10,000 on recruiting software, for instance, because of the cost. But they don’t realize that just one better hire from that software could give a 100-fold return.”

Where it all begins

After looking at the ELTV metric and all the inputs associated, the next logical question you might pose is, “Where should an organization start?” Many founders, particularly startup founders, realize several years into their company's life, that their People Practices are a bit lacking, but that addressing all the facets of HR at once is not realistic.

Josebachvili said she thought the best way to leverage a company's time for the biggest impact was to start with hiring. “If there's any place where you're going to start investing in your culture and your people, it's in the people you bring in the door and how you assess them,” she explained. “What I would do is make sure you're actively prospecting, make sure you're actively tracking the effectiveness of everything you're doing and create recruiting like you would sales and marketing or any other business unit.”

Tracking your metrics over time and simultaneously putting in the effort to improve your recruiting techniques is critical, Josebachvili said. If you don’t do these things, “Then you're not really putting in the effort to try to bring better people into your organization," she said. "It boggles my mind when I ask people what their offer-acceptance rate on job offers is, and they don't know. It's like asking a salesperson what their win rate is. You would expect every head of sales to know their win rate.”

We next switched gears to discuss onboarding, which Josebachvili said she believed can be as impactful as great hiring. “Leaders need to recognize that onboarding isn’t just a warm and fuzzy thing you’re doing to make sure the person likes your company and has friends,” she explained. “It’s actually related to their long-term performance at the company.”

Successful onboarding, then, means ensuring that the new hire feels like a part of the team and can start having an impact early on. “You want them to gain all the information they need as quickly as possible, so they they can be successful,” Josebachvili said. “And you want them to really understand what success looks like.”

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http://myhomeofficevirtualservices.myfreesites.net/

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