Most people think that sales and profits are the two main things that hold a business back, but that is not the reality. The main problem is the workforce. Of course, the workforce of any business is vital because they perform the important tasks, but they are also the epitome of untapped potential. If only you could break into that potential your business would run far higher profits, but how do you do it?
Design economic incentives that everyone can benefit from
It is no secret that most people work for the money. There are a few examples out there of employees who love their job. But, they are in the minority compared to the workers who work to provide for their families. That means that a vast number of any workforce, yours included, will react better to monetary incentives that give them the chance to live far more comfortably. You could implement commission based pay rises or target based pay rise, it is up to you, but you should implement one of these strategies. Money does make the world go around after all.
Provide meaningful feedback
Too many businesses are happy with their employees just doing the bare minimum. As long as they are doing their job there isn’t a problem, right? Not necessarily because they could be doing so much more. The next time you set up progress meetings you shouldn’t be afraid to offer constructive criticism that they can work on, and that will help them improve their skills. Don’t destroy them and tell them that they are rubbish because that is soul destroying. Always remind them that they are doing a good job, but there is room for improvement because you never stop learning.
Respect your workforce
It is important that you respect the job that your workforce does and that the workforce understands that you respect them. If they don’t, there is a bigger chance they will not listen to you or only do as you instruct. If they know you have their interests at heart, they will be more inclined to be proactive and do their job to the best of their ability. All it takes is to say “well done” or take five minutes to talk to them about something other than work and connect on a different level.
Offer alternative ways to improve
As you can tell, it is all about improving as workers and individuals. Of course, that is mainly up to the person themselves, but there are things you can do, too. You should book training sessions for your employees so they can sharpen and hone their skills, which is for the good of the business. They will be more productive and efficient at their job, plus it makes you look better if they are more qualified. If you can afford to invest in six sigma certification at Simplilearn, for example, you should seriously consider it for the sake of your employees and your company.
If you can increase their productivity, the entire business will benefit as a result. But, it is important to remember that you should do it as fairly and organically as possible.
Popular How To Guides
How To Convert and Download YouTube videos to your Local Hard Drive
YouTube is a great platform but the second you lose your internet connection, it becomes obsolete. Without a steady connection...
How To Play The Lottery: Five Things You Need To Know Before Playing
Lotteries are the world’s most popular form of gambling, as the low stakes with potentially life-changing returns are just too...
How To Pack For Your Long Haul Journey
The two main things to combat on a long haul journey are boredom and discomfort. This list of things to...
How to Create a Car Budget
Buying a car and paying for all the additional services, such as car insurance, can be pretty expensive. Globally, the expectation...
How To Visualize What A Loyal Gamer Has Spent Following A Video Game Series
Gaming can become an expensive, yet fun hobby. Enjoyed by millions of people around the world, video games have become...
How To Edit PDF Files for Mac Users
Most of the readers that are used to display PDF files on Macs don’t have any editing tools whatsoever –...
How To Start Your Own Website – Basic Tips
These days, it seems that just about everyone has a blog or a website. If you think that sounds like...
How To Get Into eSports
Competitive video gaming, aka eSports, is a growing industry and is fast becoming part of the mainstream sports. There are...
Business2 years ago
5 Things You Must Consider Before Starting A Construction Company
Cars & Vehicles3 years ago
How To Deal With A Driving Offence (Quick Tips)
Games / Video Games11 months ago
How To Connect a Mouse and Keyboard to Your PlayStation 4
Cleaning4 years ago
How to Make a Shower Tray Look Like New
Sport11 months ago
How To Get Into A New Sport: 10 Inspiring Tips
Cars & Vehicles11 months ago
Can You Really Afford That Car? How To Know If You Are Making The Right Decision
Business4 years ago
How to Make Your Own Mini Conveyor Belt
Other2 years ago
How to Spend Your Savings Responsibly For An Easier Retirement