As I continue to evolve this concept of business development as a service I continue to find new ideas that matter to businesses. When I first started looking at business development the first thing that I considered was how business development drives new prospects and clients into a business. After a little bit of time I realized that business development really encompassed existing client relationships as well. Now that I’ve spent the past 4 months talking with business owners I’m realizing that business development also includes employee recruitment.
When you are out in the marketplace properly positioning your business both contextually and purposefully, you not only attract new prospects but you also attract potential employees. Research has shown that only 5% of all employees are so connected to their work that they wouldn’t be interested in pursuing another opportunity. That means that 95% of all employees would review a qualified offer from another potential employer. So, how is this tied to business development?
I believe when you are out in the marketplace developing business you’re really just developing relationships. When you build solid relationships and really build trust then you can attract everything you need for your business. Most people want to love their work, which isn’t always the case. The Gallup organization has conducted a global workplace engagement study for the past few years and the numbers are staggering. Only 17% of the global workforce is engaged in their work. In the US it’s a bit better, about 31% of the workforce is emotionally engaged.
So what does this all mean? If people are not emotionally connected to their work then they’re just going to work for a paycheck. Do you go to work only for a paycheck? If so, then you’d probably be open to going to work for a different organization. It this is true, if you meet someone that is passionate about their company, paints a picture of an amazing work environment and demonstrates a level of trust and empathy wouldn’t you be intrigued to see if they had openings in their company?
In my world, this is all part of business development. Building relationships with the business community at large produces all types of results. It doesn’t just produce new prospects, it solidifies existing client relationships and it also engages potential employees in the purpose and meaning of your company. I ask you to think about how your business development efforts can help you recruit more highly engaged talent. Feel free to reach out if you want to learn more.