Benjamin is trying to figure out the best way to grow his business by 10 percent in the next 12 months. Ten percent growth is an ambitious goal that reveals a winning attitude to business.
His initial plans include formulating better approaches, putting employees through extensive training, and providing more tools to accomplish work more effectively. When he brings these ideas before his team, he is largely met with a collective sigh.
Then, Sara brings up two good points. Growth and expansion rely heavily on people. People are the single most valuable asset that a business can have. Second to that is effective management of the payroll. If employees are paid what they deserve on time, it results in a happy business.
If the human resources department is looking after the people and their pay, employees are likely to do more to help the company achieve a winning edge and become a successful business.
The rest of the team is now listening intently as Sara proposes several ideas to make this improvement:
1) Encourage innovation…Provide an environment in which people can think differently and find solutions to global problems. This helps to build a culture in which every employee is valued and listened to.
2) More freedom, less hierarchy…Systems, policies, and processes are necessary, but can result in team members losing the big picture. Creating an environment where colleagues can communicate with each other at every level helps spur creative thinking and motivation.
3) Create staff incentives…Use incentives to reward the right work and behaviors and to celebrate business victory. Offer flexi time to give employees control over how and when work is delivered and employee assistance such as counseling.
4) Ensure accuracy and compliance…Taking the extra step to ensure information is correct for every employee and that payments are sent on time and tax obligations are met helps your employees feel secure and your business run smoothly.
5) Avoid administrative headaches…Move all physical paperwork to digital functions including up-to-date payroll software and auto enrollment integration.
By addressing a few key areas in your business processes, you can prepare your business for growth that can be sustained long into the future.
If you want to know more about how to manage people and payroll and conquer business growth and productivity, click the link below for more information.