Yesterday, I interviewed a finance manager that was willing to stay in a store that he was not completely comfortable at, with team members that did not feel like team. His reason for not wanting to jump to another dealership was simply not wanting to be perceived as a job hopper.
The new position would’ve provided him a better quality of life. Better pay plan, better hours, a few more turns and even a demo.
So to protect his reputation, he is staying in an undesirable position. Why?
Our industry, has a reputation for high turnover. And finance managers don’t want eight or 10 dealerships on their resume,or gaps in employment that cannot be explained.
Let’s unpack why there is so much turnover.
Loyalty. Loyalty is a critical component that comes from that feeling of team.
During most of human evolution we have lived in tribes of the around 30 to 40 people. Because of our history we’re genetically encoded to feel a sense of team or family. When the feeling that you’re working with your friends, your team or your family is missing… work becomes a drag.
Recently I met a finance director for a Nissan store, outside of Atlanta Georgia. He shared that he has been with his current general manager for 25 years, through a variety of different dealerships/franchises.
With him, he’s simply not trying to become the general manager next week, he is a unique team member that expertly delivers what his general manager needs done to have a successful dealership. He has the right ingredients for the culture of the store.
“I trust him, so if he goes somewhere, so do I”, he says, when explaining why loyalty and team are so important to him. By working in A culture of trust, he is able to take a little more time off to spend with family, participate and hobbies and take care of his physical health. The situation allows him to have balance in his life and a side effect of that is not being burnt out.
So, his resume reads 18 years of the current dealership and seven with his prior. Actually, I’m kidding…. That’s not on his resume, because he doesn’t have one. He simply does not need it.
In order to have loyalty or inspire feelings of team, you have to bring two things to the table. Character and competency, and his GM has it in spades. That’s why he’s loyal regardless of the owner or the brand.
Do you work with a team or a group of individuals?
So, when building loyalty with your team it is of paramount importance that you bring your character and competency. The goal is clear. The people that you work with need to know that you’re going to do the best job you can every time. That inspires trust.
And trust inspires feelings of team and family. When you have that you don’t think about leaving.
By: Lloyd Trushel
President / COO
The Consator Group
What makes Consator Group different?
We believe… that there is a better way to conduct business than the status quo. In our experience, when transparent and intelligent communication occurs between F&I and their customers, profits and satisfaction go up for all parties. Conversely, when the communication is poor and dysfunctional, profits and satisfaction go down for all parties.
We are experts… in the automotive industry, with each of our principal level consultants having over 20 years’ of automotive experience. Their areas of experience include automotive finance, all areas of variable operations, financial lending, process consulting, insurance, ancillary products, the study of social sciences and the understanding of consumer buying habits.
We create a better F&I experience… by teaching F&I managers a deeper understanding of today’s buyers. We skip the typical sales cliché’s and antiquated methods. Our process is simple and straightforward. We dig into real consumer behaviors and purchasing habits so that we can educate your staff and consumers. The result is a more profitable transaction for the dealership and a happier consumer.
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