The Niello Company’s Post

5 things that happen when your dealership, department or group has high turnover: 1. Your best performers will leave for a better environment, leaving you with problem employees or poor performers. 2. It will cost you $14,000 each to replace rank-and-file employees, according to a Cox Automotive report, and department heads and GM replacements are much, much higher. 3. Your store will have negative energy, and that doesn't sell cars. 4. New potential employees will know or can find out from several sources what kind of operation you're running and will not apply or decline your offer. Consequently, most new applicants will be at the bottom half talent-wise. 5. You will open yourself up to potential litigation. According to a recent poll, the culture of the company and management staff bear 91% of the responsibility. Nothing will change until you make the correct changes. If you're ready to make a change, we can help. Smart4ce provides superstar talent in all departments nationwide. Call us at 866-528-3014 to discuss your needs and take the first step towards a better future for your dealership or group. #cfo #ceo #coo #dealerprincipal #owner #automotive #dealergroup #generalmanager #servicemanager #partsmanager #humanresources #controller #money #profit #badenergy

One of the key qualities of a finance manager is understanding the core job of his business partners. Like literally, wearing their hat and acting as one of their team members. A factory finance manager for instance should understand all the Ins and Outs of the factory he/she is covering, in terms of processes, daily operations, to the extent of challenging the daily outputs of the machines as well. Imagine a situation where you have to work on the ROI of a new machinery, whom do you think would be more trustworthy, a proactive finance manager who understands the efficiency upgrade when we introduce a new piece of machinery, or the one waiting for others inputs to only do the math on an excel sheet? Be proactive, wear the other hat.

The Great Turnover Challenge: Investing in People for the Long Term Successful dealerships should share a commitment to fine-tune hiring practices, cultivate talent that already exists internally and prioritize learning. http://spr.ly/6045XP9VD #Automotive #AutomotiveTechnology #IndustryNews

The Great Turnover Challenge: Investing in People for the Long Term Successful dealerships should share a commitment to fine-tune hiring practices, cultivate talent that already exists internally and prioritize learning. http://spr.ly/6044XP9V8 #Automotive #AutomotiveTechnology #IndustryNews

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As a career automotive professional, it's painful when I sense the automotive industry struggling. So many great people and companies domestically and worldwide The automotive industry, when stable feeds both regional and global economies. The local, state, and global wealth that comes from a healthy automotive industry historically was profound. Now, at least in Europe and America, without "help" the industry as we knew it would be nearly extinct. Unfortunately, a challenging period is upon the automotive industry. Many think it is over-regulated and unfairly targeted. 55,000 ocean freighters basically dump junk in our air and oceans unregulated. In contrast the automotive world chokes in rules that threaten its very existence as a private entity. To SAVE these companies healthy mid to higher volume product lines need to be developed. Long term mid to high volume programs MAKE the automotive world stable. Low volume and multiple low volume programs struggle to stay profitable much less affordable. Suppliers of tens of thousands of critical PARTS to OEM's are just as important. Such suppliers take automotive sciences and move them into other industries. That FEEDS a global economy with inventions and opportunities. Healthy UNIONISM is and of itself is not a curse upon the automotive industry. Healthy unions help management manage tens of thousands of people through standardized work places, pay, and benefits. What IS a curse on the automotive industry is over regulation. Too much government meddling into a critical science strains the automotive world today (design, profit, direction). The system needs a FIX, soon simply stated. It will not make it as is many believe 2023. https://lnkd.in/gkiPJzdQ

Today's question poses a dilemma for dealership leaders: is cutting an employee's pay to save $2,000/yr. truly worthwhile, or are there alternative methods to reduce expenses without harming profitability? To a dealer or upper management $2,000 is not a huge decrease % wise, so why would an employee be upset? What they don’t understand is that cutting pay not only affects employees' livelihoods but also undermines trust and morale, leading to decreased productivity and increased turnover. I recently learned of a friend's pay reduction by a new manager, causing significant distress. Despite promises of long-term benefits through increased leads, the immediate impact on my friend's finances is substantial. This raises concerns about the manager's approach and the well-being of employees. As someone who values empathy in management, I believe there are numerous alternative strategies to achieve cost savings without sacrificing employee welfare. Dealerships can explore operational efficiencies, negotiate better deals, utilize technology, or reallocate resources to more profitable areas. Prioritizing empathy and creativity in cost management creates a culture of prosperity and ethical responsibility. By investing in employee well-being while pursuing strategic cost-saving initiatives, dealerships can ensure long-term success and a positive reputation in the industry. I can think of dozens of ways a dealership can cut expenses before considering reducing employee paychecks. I would need to be in a position a lot longer than a couple weeks before I cut someone’s pay, that is for sure. I am curious, if you could talk to this manager, what advice would you give them? If you were the employee, would you stay to see if the leads flourish in or would you find a new position? 

According to Cox Automotive research, average dealerships replace almost half their staff annually. Replacing each terminated employee now costs $14,000. Replacing a GM or department head is substantially higher. That means your management team is wrong almost half the time when entrusted to select, train, and retain staff. Scary thought: What does less than average look like? Why are they leaving? Based on polls we've done, almost half are leaving because they perceive the store has a toxic environment. 25% feel underpaid, 17% left because of broken promises, and 11% felt their immediate supervisor was incompetent. Smart4ce says: You have a management problem. These mistakes are costing you millions. Your best employees will bail out. You will be left with the leftover employees. (marginal or worse) It won't get better until you change something. When dealers nationwide need instant turn-around management, They call smart4ce the #1 automotive recruiting firm in the USA. Call us now 866-528-3014