You can have a gazillion products and services, but if you do not bring in people, your business will die a natural death. When we say people, we are referring not only to your steady stream of prospects and customers. We are also talking about your own team. Your own team matters. After all, you are not Harry Potter who can just wave a wand and do everything that needs to be done. Even a small business requires at least a person to help manage the enterprise.
However, for many years, business owners are viewing people as sort of commodities. Workers are needed simply to bring in profits for the enterprise. Though it is fundamental to have buyers and talents behind you to keep the business afloat, you should know once and for all that money should come second. The first thing you should focus on is increasing the value of your own business.
How to Do It?
You may ask, “Why is this so?”. When your business has value, it has sense for your consumers. They will instantly know the benefits they are going to get if they do business with you, such as buying products or availing services. Moreover, by having value, you increase your level of professionalism and credibility in the industry. The set of values you develop will also serve as guiding forces for the continuous betterment and growth of the organization.
Building up company values does not happen overnight. Nevertheless, there is always the “now” to start with. You can begin with the following ideas:
• Consider other motivating factors.
You should stay away from the idea that everyone works for money alone because if you remove it, you can expect your salespersons and supervisors to disappear in a snap.
What you can then do is to introduce other forms of motivation. For one, you can offer promotion to those who perform well. You can also give away special recognition to people who excel. Give them the trainings that will make them more confident about doing their jobs.
• Immerse them with the dirty work.
Employees will become more passionate to help the company out if they are given the chance to handle some crucial tasks. For instance, assign to someone the overall management to the upcoming trade fair. These types of projects bring about a different sense of fulfillment or satisfaction far greater than money, and many of your key personnel will likely contribute more and stick around a lot longer.
• Choose your people wisely.
Do not take the hiring process for granted and in a hurry. If you will do just that, you will end up employing those who would work only for their salaries. Make sure that the staff you will hire has the same vision as you.
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As HR Professional, I enjoyed this posting. I really wish many companies emerge to protect talent and practice right hiring practices and ensure retention without much difficulty.
More ideas:
Don’t overload. Laying people off and reassigning their duties to the people who are left causes resentment and burnout. Be careful when adding tasks like managing trade fairs – does the assignee have the time and passion to take this on?
Be careful about perceptions of favoritism, especially with people who are not star performers or who have obvious family or friendly ties with management.
Avoid sounding or looking hypocritical. Don’t hold company meetings where you complain about the economy and implore workers to work with reduced resources and rewards, then show up in a brand new fancy car. Even if you’ve earned it, workers will assume that their sacrifices are used to pay for management perks.
Although my comments may not directly relate to how to pick the best team members, they do relate to retaining those members as well as company reputation. Undeserved or not, once word gets out that you’re running a sweatshop you will have major difficulties attracting those blue chip team members that you’re dreaming about.
“When it comes to business, it is all about money” (Donald Trump). For it to succeed, every part should be consistent and aligned with that goal. A respectful, dignified and ethical environment, where people are recognized and encouraged to grow their skills, is also consistent with that goal and in every enterprise with long-term goals (not a quick overnight buck), this is also required for the survival and growth of the Company. One of the beauties of Capitalism is that it is in the own self-interest of the Corporation to be ethical, honest, respectful and ethical. Nothing else works, long term. ‘Social Responsibility’ at gunpoint (mandated by big Government and enforced through regulation and fines) does not work. That is why Socialism everywhere, at all times through history (more recently as admitted by Fidel Castro from all people) is a miserable failure, and that is why America (when allowed by the Government du jour) so dramatically changed the world providing so much opportunity to so many. So, when ‘money comes second’ on a business environment, you must either doubt the sincerity of the person proclaiming that, of the person offering you to work for something else, or the viability of that Company, in the long term.