CDK's purchase of Auto/Mate may create a major disruption in the dealer management system (DMS) industry. Here is our take. DOWNLOAD
As you are preparing for 2016 and finalizing your forecast, keep in mind the biggest opportunity for improvement: Building a passionate work culture that is able to deliver high-level results.
In the biology world the term “culture” refers to the cultivation of microorganisms. Relating this to the automotive industry, I automatically refer back to the latest NADA workforce study where it states that in an average dealership, barely 50% of the employees make it to the three-year milestone. Stores that exceed this level see an increase in sales and customer satisfaction scores due to the actions of a senior staff. As leaders in this industry it is time to invest your efforts in growing and building your team, creating a positive workplace culture and maximizing your human capital.
Culture is made up of the values, beliefs, underlying assumptions, attitudes, and behaviors shared by a group of people. Culture is the behavior that results when a group arrives at a set of - generally unspoken and unwritten - rules for working together.
- Here are some tips in building a positive workplace culture
Human capital is the stock of knowledge, habits, social and personality attributes, including creativity, embodied in the ability to perform labor so as to produce economic value.
- Here are a few tips to grow your human capital
To begin leveraging human capital and a positive workplace culture start with the basic measurement of the effectiveness of everything from training programs to employee engagement. Use these analytics to make decisions on grooming talent and finding ways to keep it. Companies that place a premium on human capital, measuring it, and treating it as a pure asset will increase the margin between those that succeed and everyone else.