Welcome to One Word Suggestion

Hosted by: Eran ThomsonThis week's word is: Taxes

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Show notes:

Links:

* https://www.forbes.com/sites/johnhall/2019/05/09/the-cost-of-turnover-can-kill-your-business-and-make-things-less-fun/?sh=487530067943

This podcast is intentionally short and sweet, so don't expect too much from the notes. We will, of course, share links and details of things discussed in individual episodes as appropriate - and that's about it. The main thing to know is every episode of this show starts with a one-word suggestion, and there's no reason the next one couldn’t come from you.As long as its not "dildo."

Transcript:

The wealthiest man in the world, Amazon founder Jeff Bezos, allegedly paid zero tax in 2020.

But rich people don't pay less tax because they're cheaters. They pay less because they know how to play the game.

Or at least their accountants do. Navigating the ever-changing and complicated world of tax law is a full-time job. So if you've got the money, it makes sense to hire someone to help you keep more of it, legally

Whether this is fair is another story. The point is, you have to know the rules before you can take advantage of them.

In business this applies to profit as well as to your most valuable asset of all, people.

The basic rules of human behavior around communication, collaboration, teamwork, listening, and building on each other's ideas, can be almost as complicated as tax law.

But once you have a clear understanding of how things can work, unforetold riches abound.

And one of the best ways to grow your people is to train them in the art of improvisation. Hiring an improv trainer is like hiring a good accountant. The best ones will help you make more, save more and keep more of what (or who) you already have.

These days unhappy staff are less likely to revolt and more likely to quit. And when they go your IP goes out the door with them, no matter how good an NDA they may have signed.

And the cost to replace them is high, as much as 33% of their salary on average, and over 150% in some C-suite instances.

Advertising, recruiting, interviewing, screening, hiring, onboarding, and training add up.

But the cultural cost can be even higher. Whenever someone leaves, others take time to ask why. And if things start to snowball, it can be disastrous.

The bottom line is improv training can improve your bottom line. Especially when everyone from the top down participates.

And it will make work more fun for everyone. Yes, I know "fun" may not be your main objective, but happy employees are more healthy, productive, creative, and collaborative.

The labor market is tight and employee retention has never been more important. Building a fun and functional workplace will help attract talent, keep talent, and reduce your productivity tax.

Navigating the ever-changing and complicated world of humans, especially humans that work together is a full-time job. So if you've got the money, it makes sense to hire someone to help you keep more of it, legally.

There are lots of companies who claim their business workshops are the best. But if you want real results you can see on your balance sheet, and you don't want to set your company up as a "double Irish with a Dutch sandwich," PowerProv is a great place to start.

---The ideas, observations, and perspectives shared here are mine alone. I’d love to hear yours in the comments, or better yet in a review.

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