by Terry Duncan, President of Duncan Management Inc
In the job market today, employees don’t stay in one place for as long as they used to. While numerous factors can contribute to this, there are a few things business owners can do to boost morale and keep a higher retention rate.
Businesses must stop categorizing employees into generational groups with specific shortcomings or habits.
Businesses must understand that individuals’ makeup generational groups and that being born into a block of dates does not define them as a person. Singling out one group as lazy, intractable, unfocused, or even job hoppers, shows a company’s unwillingness to adapt to the needs of a changing workforce. Workers are being forced to accept that some companies do not have the same loyalty for employees that once keep workers in place for decades.
In the current changing environment, companies must attract the most talented with truth, benefits, and commitment to personal improvement. People enter employment to be paid but they stay for the community and comradery which evolves while they are there. This new migrant work force will only roost where they feel appreciated for their talents and have integrated personally with a group. Companies that do not invest quality time in associates are getting used to a revolving door of employees.
When confronted with competition, companies believe that cutting costs is the best recourse of action.
Slashing the price, to get the sale, is the go to remedy when competing against others. Customers are inclined to buy value for the long term from personable, cutting edge, and hands-on businesses. To have a perceived worth, a service/product must meet or exceed a need, then people will gladly invest in endurance and benefits over low-cost. A smaller company has an advantage in the current value base purchase environment and should learn to exploit this distinctiveness.
Large to midsize businesses must reinvent themselves to appear caring and amiable to a consumer to contest this fact. Small companies feel like they are out gunned, under staffed, or out performed by a larger competitor. The truth is, small companies are very appealing to customers for multiple reasons. The ability to pick-up a phone to call or text the owner is gratifying and comforting to the consumer. Larger agencies are inclined to make decisions by committee which may involve total review of service contract to examine exposure or liabilities.
In the optimum business atmosphere direction is quickly altered and correctional positioning is established with minimal waste or diversion of resources. Smaller companies are the boutique, more responsive, and specialized answers to the Goliath businesses of any industry. Small businesses should capitalize on these aspects and not view them as a detriment.
All business must continually focus on fortification and longevity enhancement.
The need to advertise, invest, or cold call will take a backseat in times of success. When a business starts to grow, contentment or gratification of success may want to establish itself. This complacency can cause a rubber band effect in revenue flow and cause sudden shifts in a company’s business stream. Businesses must learn to absorb gratifying situations and continue a steadfast path in the pursuit of future enterprises. Establishing a promotional and associate improvement budget is a must have for any company wishing to endure. The dollars spent today, plant the seeds of tomorrow’s prosperity.
Companies need to learn how to handle performance issues with associates.
Businesses fall into the “kick them when they are down” mentality when handling employment matters. Companies need to stop taking the stance that associates must appreciate the fact that they have a job. Associates are human beings with lives outside of their jobs. Their work and home personas are intertwined with one another to no fault of their own. Taxing developments at either setting, can cause strife or echo preclusions at the other. If a good employee abruptly changes direction a supervisor or peer should discreetly intervene as an empathic confidant. Establishing a helpful, understanding, and non-confrontational venting atmosphere can go a long way to reinforce an employee’s trust in a company.
Companies must stop averting performance issues to a disconnected HR department in the attempt to alter the employee’s unwanted behavior. Businesses must concede to the fact that the communal atmosphere, that employees are exposed to at work, is the predominate shaping force of their lives. Unhappiness can spread pragmatically into every aspect of business, if left unchecked. Someone’s disconcerting condition does not rectify because they are reprimanded, it only further deteriorates. Businesses must invest more quality time in their people.
Terry Duncan is the President of Duncan Management Inc. He has a demonstrated history of working in the logistics and supply chain industry, and has been instrumental in the initiation, development, and
superior performance of many small businesses in an array of industries. As a strong business development professional, he has helped grow other businesses to their full potential.