From Mark Ford in the Wealth Builders Club: The kind of employee you hire will have a huge impact on the long-term success of the business. Great people make all the difference.

Employees who are tenacious and self-motivated will help take your company to the next level.

It’s important that prospective employees understand your goals. In turn, it’s important to know their goals. This will help you reach your goals while helping the employees achieve their own. A relationship that is beneficial to both parties will go a long way. Here are some other key elements:

A healthy working environment that workers enjoy will increase productivity.

Adequate employee compensation goes a long way. It will make the employee feel like they are an integral part of the company’s operation.

Acknowledging hard work when an employee is doing a good job motivates them. It’s important to recognize a job well done immediately. This reinforces their hard work.

Manage people to their strengths. Utilizing tools that give insight into personality profiles and a person’s unique abilities will maximize an employee’s strengths. This increases productivity and results in good employee morale.

Give employees some freedom. Letting employees choose the projects they work on and enjoy the most will boost productivity.

Reward great work. You should always make sure employees know you appreciate them and that you notice their hard work.

Treat employees the way you’d want to be treated. This is self-explanatory. Employees are people just like you, so don’t treat them like a number.

Let employees speak up. Allowing employees to take initiative will help create a great team. This, in turn, will help your company grow.

Always be on the lookout for quality employees. The recruitment process never stops.

Hire passionate people. Not hiring individuals who are bossy, prima donnas, or clock-watchers is key. This will create a healthy work environment.

Look for people who will be a good fit. Make sure the employee fits your values and culture and really gets your business.

Be able to work with employees’ schedules. Being flexible helps in making a loyal employee.

Finally, hire self-starters. These people have drive and see value in building their own careers. Another factor that will help your business grow.

Reeves’ Note: This piece is an excerpt from an essay series we call the Extra Income Project. In it, Mark leads readers through dozens of ways to start bringing new revenue streams online. It’s also a key benefit of the Wealth Builders Club. Club members can read Mark’s full essay, right here.

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