Wednesday, December 17, 2008

The Wealth Within Your Business

What is the real capital, what do you value the most within your business? Your stock? Your clients? Your systems? Your database? Or..... Your Team? If you want to build a business that works without you, you need to build a motivated and loyal team around you.

The TOP 5 things companies can do to help their employees stay committed and motivated are [in order of preference]:
1. being treated with respect;
2. achieving work-life balance;
3. providing a quality service to customers;
4. working with quality co-workers, and;
5. the type of work performed. Base pay was the 6th most important item.

Respect -noun esteem for or a sense of the worth or excellence of a person, a personal quality or ability, or something considered as a manifestation of a personal quality or ability Food for thought: How much respect are you showing your employees? Take the time to watch is a terrific short movie called Validation I found on YouTube. A must watch for all managers. If you are really time challenged, watch at least the first four minutes - there are some great leadership lessons here.

How to apply this? Remember to catch your employees doing things right. Put in place some recognition for your employees - awards, rewards and more. One of my clients awards the team member of the month a reserved car parking space and gift voucher.

Another has a team player award where the last winner decides who the next winner will be and they get the trophy for the month plus a gift card. Find some time to make your workplace a fun place to work. And lastly, remember to smile and the world will smile right back at you.

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