How to Retain 'A' Players | Ep 27

Build with Leila Hormozi

Leila Hormozi

Education, Entrepreneurship, Management, How To, Business

5 • 867 Ratings

🗓️ 11 April 2023

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

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Summary

If you want to retain people, you have to help them ascend. Today, Leila (@LeilaHormozi) shares with us how to keep employees once hired, focusing on critical factors of employee retention: an opportunity for growth, measurable impact, fair pay, recognition, and community. She also discusses the importance of setting clear expectations, providing context, and emphasizing effective onboarding.

Welcome to Build where we talk about the lessons I have learned in scaling big businesses, gaining millions in sales, and helping our portfolio companies do the same. Buckle up, because we’re creating an unshakeable business.

Timestamps:

(2:33) - Three pillars to training: context, expectations, onboarding.

(9:14) - Five pillars of retention and ascension for employees.

(12:01) - Have an employee growth plan for retention.

(14:13) - Feedback to know what good looks like in training.

(23:46) - Recognition: four ways to recognize people based on milestones.

(25:21) - Create community within employee and client base for retention.

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Transcript

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0:00.0	They just constantly blame the employees.
0:01.8	I was like, stupid employees.
0:03.5	Yeah, they don't know what they're doing.
0:04.4	This not.
0:04.7	I'm like, it's you that's usually the issue.
0:06.8	And it's because that we often are so busy in strategy and moving the business forward
0:10.8	and driving revenue and driving sales, we don't think about this person that we just hired
0:14.4	who has no idea what the fuck their job is.
0:18.7	How do you create an unshakable business? I cross $100 million in net worth by the age of 28.
0:23.6	Now I'm growing Acquisition.com into a billion dollar portfolio.
0:26.6	In this podcast, I share the lessons I've learned in scaling big businesses and helping our portfolio companies do the same.
0:32.6	Buckle up and let's build.
0:34.6	This is part two of my video on how to build a talent acquisition funnel.
0:40.8	So in the first part, we talked about how to get eight players.
0:43.7	In this part, what I want to talk was how to keep a players.
0:46.4	And because a lot of people come to me and they're like, Leila, people are leaving because
0:49.6	they're going to start their own business.
0:50.8	They want to become an influencer online, or they want to go work for this company that is going to pay twice as much and they're not even going to have to work as much.
0:56.3	How do I keep people once I get them in? And so that's what I want to talk about today.
1:00.4	So back in 2016, when I started gym launch, I felt like I got a really good hang of attracting talent
1:05.9	because like I explained in my last video, attracting talent is just as much a sales skill as it is getting customers,
1:12.0	right? And so I took a lot of my sales aptitude that I learned throughout my years before I started
	...

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