Taking care of one’s employees is one of the most important things a business owner can do.
That said are you doing all you can to care for employees and put them in position to succeed time and time again?
If not, now would be a good time to head in that direction.
Make Sure You Take Care of Those Under You
In doing all you can for the people under you, here are some areas to make sure you have covered:
1. Financial stability – Making sure your employees have financial stability is important. If someone is struggling to make ends meet, chances are it can impact their workplace efforts. When someone is in a better financial position, they tend to do better on the job. Do annual reviews to determine if someone should get a raise. If you offer health benefits, this can also provide some stability for employees. That is especially given how expensive healthcare can be.
2. Room to advance – You also want to give your employees the ability to move up the company ladder as time goes by. Someone stuck in a no-growth position may look to go elsewhere sooner than later. If your company is on the smaller size, it may be more difficult for employees to move up the chain of command. That said giving them extra responsibilities and paying them for it can be as good as moving up.
3. Sales commissions – When you have a sales team, are you giving them commissions? Assuming you are, this is a good chance for them to make extra money and feel better about their positions. When it comes to commissions, be sure you track and record them with commission software. You also want to make sure you as a business owner are in compliance with ASC 606. Take the time if you have not already to learn about the law on this matter. Understand how commissions are documented and end up being reported.
4. Safety in the workplace – Another important thing for you to focus in on would be safety in the workplace. Unfortunately, workplace accidents do occur. While many of them are not life-threatening, some do end up in serious injuries or even worse. Make sure you are doing all you can to provide a safe environment for your workers. It is important to not become complacent. Do periodic reviews to make sure your office, warehouse or whatever you have for a workspace is as safe as can be. If there are any notable safety issues, take the time to address and fix them sooner than later. These can be things like slippery or uneven floors, objects that can fall, bad lighting and more. Along with the potential for one getting hurt, you could also be looking at fines if your company is found to be a safety risk.
As you look to do more for your employees, where will you begin?
Needless to say, you should have some areas to explore.