As a business owner, you’ve probably heard the phrase “your people are your greatest asset” more times than you can count. And it’s true, to an extent; if you’ve got staff, then the success of your business rests, in part, on their shoulders. But if your people are bored, demotivated and unhappy, then they won’t be an asset. They may even be a liability, as their productivity ebbs away, their lack of care results in mistakes, and their negativity creates a poor impression amongst your customers and business partners. As the boss, your job is not just to manage your company to be successful, but manage your people to be successful, too.
Numerous studies into workplace engagement have found that when employees understand how their role directly contributes to the success of the company, they enjoy their work more. That sense of achievement helps to make employees feel personally invested in what they’re doing. A good manager not only provides this information, but also gives their staff the tools to be autonomous in their work and to take the initiative without fear of ridicule if they make a mistake. Delegate responsibility to them. Show them that you trust them, and let go of some of the time-consuming tasks that are sucking up large parts of your day.
Get to know your staff
By being personally interested in their hopes and goals, you’ll find out their other skills and areas of interest that may enhance their role within your company. Working out what drives your team members helps you to assign them tasks that keep them motivated. Also, staff who feel comfortable enough to share their personal ambitions with you will also feel more confident to share ideas or criticisms about your company. Because they deal directly with areas of your business where you’re not hands-on, they can make you aware of opportunities or problems you may have missed.
Make them feel valued
Make sure that you are generous with your time, your knowledge, your constructive feedback, and your appreciation of their work. Employees who feel valued are more likely to go the extra mile. A great way to value your staff is to offer them an employee benefits package, such as health insurance and KiwiSaver. At Advice Financial, we can help you explore your options and design an employee benefits scheme that will boost staff engagement and loyalty.
Being an effective manager takes time and planning. The day-to-day stress of running your business can create a significant barrier to motivating and empowering your team. That’s why it’s important to have contingency plans in place that remove some of the major anxieties that business owners face.
Advice Financial can provide you with a Plan B to help you cope if you lose a key staff member, or become unable to work yourself. Business insurance enables you to keep your company afloat, financially, if key personnel are affected by illness or injury. Come and chat to us about how we can help you obtain that peace of mind, freeing you up to concentrate on the important aspects of managing your team and driving your business forward.