Discover ways to more effectively manage your small business operations and learn how to attract - and keep - the highest quality employees in a challenging and competitive job market.
Employee motivation can be like the stock market: Sometimes it's stable, and other times it drops and gives you a massive scare. The main difference? You have some control over employee engagement. Most of the time, you can even pinpoint certain factors that contribute to an employee's disengagement, and once you figure that out, you can work on finding a solution
When it comes to communicating with employees, silence is not golden. Employees don't do well with a no-news-is-good-news style of management. Your team members want some news, so give it to them—and keep it positive. After all, it only takes a well-placed phrase to keep teamwork—and your business—humming along.
Years ago, "loyal" employees stayed with their employees for years. Not any longer. According to the U.S. Bureau of Labor Statistics, the median duration of employment is 4.6 years. That number is even lower for service-oriented industries such as food preparation. As a business owner, it probably comes as no surprise to you that these days, employee loyalty is not really about how long they stay.
It's easy to read about a large company like Google and think, "Wow, look at all those cool benefits they offer! What a great place to work. Too bad my small shop can't offer any of those things." But don't get discouraged—you can provide an equally fantastic workplace for your employees.
Small business owners have a passion for their products and the customers who buy them. Sometimes, back-of-the-house functions, like human resource management, take a back seat to the daily operation of the shop. That's a mistake, because a solid HR strategy is vital to the growth of your business.
Much has been written about workers born between 1980 and 2000, these Millennials who seem to require ping-pong tables, beer kegs and pajama Fridays in order to stick around a workplace. But research reveals what really appeals to this generation of tech-savvy, quick-learning employees, and it shows that even a small business can compete when it comes to attracting and keeping the best young talent.
Although the economy seems to be gradually improving, businesses are still feeling the aftereffects of the recent decade-long slump. Customers are still reluctant to spend, and employers cannot yet commit to boosting payroll numbers. While in this holding pattern, a business may stagnate, waiting to make any big moves until its owners are comfortable.