DON’T SET YOUR TEAM UP FOR FAILURE
THE PERILS OF THE ‘OVERPROMISE, UNDERDELIVER’ MENTALITY
RECRUITING
unreasonable expectations and sets your relationship with your prospect up for failure. When you overpromise and underdeliver, you develop a system of dysfunction that fosters lukewarm clients you won’t retain. But lost sales won’t be the only consequence; you’ll also form a culture of dysfunction within your team. Employee retention should be at the top of every business owner’s mind. Depending on your industry, a new hire can cost thousands — even tens of thousands — of dollars. In light of today’s strong economy and low unemployment rate, many large businesses have shifted their hiring strategies to poach talent from small companies. This threat of losing employees causes many small-business owners to overpromise and underdeliver in their internal communications. Making promises you can’t keep to employees results in a high turnover rate, low morale, and lack of trust. RETENTION
The competitive job market has led to aggressive headhunting for top candidates. But in some cases, aggressive recruiters promise grandiose perks and unsustainable work environments. Just as with a sales client, overpromising and underdelivering is a sure way to set new employees up for failure. When you perpetuate a facade of what your company can actually provide, you open the door for disappointment and regret. The consequences become evident when employees leave or cultivate negativity within your team. So how do you avoid these pitfalls? The best place to start is by bonding the actions of your company and its teams to the values that make your business successful. Another key is to have confidence in the culture of your company. Many leaders succumb to the idea of overpromising and underdelivering out of fear. If you’ve created a dynamic that breeds creativity, accomplishment, and growth, you’ll never have to make promises in the first place.
While trying to woo your next big client, it can be easy to get caught up in doing whatever it takes to close a sale. What starts as a simple pitch can quickly turn into promising the moon if you let it. Starting down this slippery slope creates
Women across the country are tearing down the cultural misconception that homeownership is primarily for men or families. According to the National Association of Realtors, 18 percent of homebuyers in 2017 were single women. Meanwhile, only 7 percent of single men bought a home in the last year. The discrepancy in these numbers doesn’t necessarily stem from buying power, however. In fact, studies show that single women can only afford to purchase 39 percent of the homes on the market. The idea that women should be married or need a support structure to maintain a property on their own is ingrained in our societal fabric. But this increase in female homeowners has sparked a global conversation regarding women’s ability to rally against the existing subliminal misogyny that tells them to support rather than lead. Why are these women buying homes in greater numbers? In addition to their salaries, higher education, and matrimonial choices, many women credit motherhood as the driving factor in their choice to become a homeowner. In the past, single-parent households weren’t traditionally allowed to adopt. The Rise in Single Female Homeowners SINGLEWOMEN, SUCCESSFUL HOMEOWNERS
Now, however, one-third of all U.S. adoptions happen in single-parent households, and statistics show that unmarried women are far more likely to adopt than their male counterparts. Despite making up a sizable portion of the buying market, single women don’t have an easy path to ownership. Because they aren’t relying on a partner’s income to help with a down payment, they have to take a lot of financial precautions. Zillow.com estimates that it will take an unmarried person 11 years to save up for a 20 percent down payment on a typical home in the U.S. Despite these obstacles, many single women are finding ways to make homeownership a reality. Some slowly build up their savings, while others rely on brokerage accounts and retirement funds or pensions. Regardless of the method they choose, these women are creating a new frontier for others who are ready to take the leap. If you are a part of this rise in female homeownership, it’s important that you protect your assets with a proper estate plan. Reach out to Anna today for more information on how she can help create a customized estate plan that meets your goals and needs.
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