Shop Owners, it's November! Time to meet with your accountant
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By Joe Marconi in Joe's Blog5 commentsI recently spoke with a friend of mine who owns a large general repair shop in the Midwest. His father founded the business in 1975. He was telling me that although he’s busy, he’s also very frustrated. When I probed him more about his frustrations, he said that it’s hard to find qualified technicians. My friend employs four technicians and is looking to hire two more. I then asked him, “How long does a technician last working for you.” He looked puzzled and replied, “I never really thought about that, but I can tell that except for one tech, most technicians don’t last working for me longer than a few years.”
Judging from personal experience as a shop owner and from what I know about the auto repair industry, I can tell you that other than a few exceptions, the turnover rate for technicians in our industry is too high. This makes me think, do we have a technician shortage or a retention problem? Have we done the best we can over the decades to provide great pay plans, benefits packages, great work environments, and the right culture to ensure that the techs we have stay with us?
Finding and hiring qualified automotive technicians is not a new phenomenon. This problem has been around for as long as I can remember. While we do need to attract people to our industry and provide the necessary training and mentorship, we also need to focus on retention. Having a revolving door and needing to hire techs every few years or so costs your company money. Big money! And that revolving door may be a sign of an even bigger issue: poor leadership, and poor employee management skills.
Here’s one more thing to consider, for the most part, technicians don’t leave one job to start a new career, they leave one shop as a technician to become a technician at another shop. The reasons why they leave can be debated, but there is one fact that we cannot deny, people don’t quit the company they work for, they usually leave because of the boss or manager they work for.
Put yourselves in the shoes of your employees. Do you have a workplace that communicates, “We appreciate you and want you to stay!”
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By nptrb
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By Joe Marconi
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By carmcapriotto
Matt Fanslow tackles the misunderstood relationship between profit and greed in business. He references the YouTube Short "Farmer Does the Right Thing on Shark Tank," using the comments section as a springboard to discuss public perceptions of profit.
Show Notes
The association of profit with greed (00:00:11) Matt discusses the perception of profit as a negative concept and its association with greed in business. YouTube short "Farmer Does the Right Thing Shark Tank" (00:01:14) Matt talks about a YouTube short video featuring a farmer's product pitch on Shark Tank. Challenges in justifying pricing to customers (00:03:41) Matt discusses the difficulties businesses face in justifying their prices to customers and the need to educate them about the value provided. Misconceptions about profit and pricing (00:06:21) Matt addresses the misconceptions regarding profit margins, and pricing strategies. Tackling the association of profit with greed (00:14:36) Matt explores strategies for addressing the negative association of profit with greed and the importance of educating customers about business operations.
Thanks to our Partner, NAPA Autotech napaautotech.com
Email Matt: [email protected]
Diagnosing the Aftermarket A - Z YouTube Channel HERE
Aftermarket Radio Network: https://aftermarketradionetwork.com/
Click to go to the Podcast on Remarkable Results Radio
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