An enormous benefit exists for small business where they are still small enough to know their employees intimately. That is, to know their strengths, improvement areas, motivations and most importantly how to effectively communicate with each of them as an individual. This unique opportunity needs to be capitalized upon because in the realm of business and finding unique selling points to bring in (and keep) the best, the payoff from knowing your team this well is immense.
How? Because when you have this level of a relationship you are helping to increase happiness, motivation, work ethic, team cohesiveness, customer service, employee retention, dedication to the vision of the company, company loyalty, the list goes on. And not to be mistaken, this can be done in larger companies, there just needs to be clearer processes and systems in place to allow this to happen.
Right now we are in the midst of a shift, where companies are realizing how integral the above benefits are to their business model (and their bottom line) and are taking the time and effort to reshuffle to give them the best chances of achieving these benefits.
Some companies however, have not received the memo, they are still stuck in the “numbers are everything” game. This week’s article is for you.
Business is now as dynamic as ever and this is being driven not by any element within the business world but more so by what is happening in our communities (which I think might be why so many business owners and managers missed it). In the past decade there has been a social (and somewhat cultural) shift in society with empowerment and individuality at the forefront of this movement and this has been compounded by the profound leaps forward in understanding the human condition and fundamentally, how we work best. As this has filtered into the realm of business, it has forced us to re-think about the role of our people and the power with which they wield.
The older paradigm that we used to run went something like this: Business is a machine and the employees make up the cogs that ensure it runs smoothly. The only way to effectively monitor their efficiencies and progress was to use numbers like key performance indicators (KPIs) and if that person doesn’t hit a certain benchmark it is them that is at fault. They are replaceable. A manager’s role is to make sure targets are met.
With this societal shift taking place a new paradigm has been born: Business is a breathing, living, organism and the employees each play very specific roles in a much larger picture. This view of business gives way to a far more holistic view of what is going on and while KPIs still exist, where benchmarks are not hit the conversation is around how can we champion you to do better? There is no blame, there is responsibility. We also understand that metrics for performance move beyond the realm of numbers into aspects that can be challenging to monitor. Manager’s roles have now changed as well where they now need to be leaders and know their people.
The key understanding is that your business is only healthy while your people are healthy, happy, productive and motivated. And when they are not, your business suffers.
Without cash flow, there is no business and the quality of people behind the helm dictate the quality of cash flow. Isn’t it then in your best interest to make sure they are operating at optimal levels and enjoy their roles?
Your people are not all the same. Make sure you know what makes them different, and their similarities, and how to lead them properly.
Something to think about…