As a small business owner, you probably started your own business because you’re passionate about bringing your product or service into the world, and providing a much-needed solution for your customers and clients.
This people management stuff – it’s not necessarily what you signed up for. Call it a necessary evil if you like, but the fact remains that if you want to grow a thriving business, you can’t get away from it. You need practices, procedures, and policies in place that ensure that you’re hitting the mark and developing the right kind of team to guarantee your future success.
If you take your finger off the pulse or let the grass grow under your feet, you could find yourself with problems that have been deeply embedded into your company’s culture, and these can be extremely difficult (not to mention expensive) to fix.
Wondering whether this might apply to you? Recognizing that you might not be firing on all cylinders is the first step towards fixing any issues and turning things round.
Here, we ask some questions about where you currently are, so you can start to establish where you might need to make changes.
Are you suffering from high turnover rates?
Recruiting good staff can be expensive. Giving them the skills and developmental support that they need to excel in their roles can prove to be costly, too. In an ideal world, this is an investment rather than a cost. But if your staff are deciding to move on to new pastures, this can be a huge problem.
You’re likely to notice the impact on the bottom line, and it may well be the case that you’re also damaging your employer brand. If too many people are leaving, the word will get around, and people will start to ask why. This could lead to you struggling to attract top talent in the future.
Are you unsure about whether you’re really meeting your legal obligations?
All business owners know that they need to be compliant with relevant employment legislation. When push comes to shove though, are you confident that you’re meeting your obligations? If you’re not, the nagging concern that something could go wrong is likely to constantly be at the back of your mind.
If you found yourself in a situation in which you weren’t fulfilling your requirements, it could prove to be devastating. Often, all it takes to ensure that you’re where you need to be is some advice from a professional. The peace of mind that this can bring can be worth its weight in gold.
Are you struggling to meet your overarching business goals?
HR is no longer about handing out cups of tea and sympathy. Robust HR practices will always be in line with wider company objectives, and they’ll actively help your business to get to where you want it to be. Take a second to think about what HR looks like in your business, and whether it’s really fulfilling its potential.
Do your practices improve productivity? Do they encourage your staff to be the best that they can be, and reward them accordingly? Do they play a significant role in facilitating business growth? If not, you’re missing out.
Though the points we’ve discussed here are really just the tip of the iceberg, they’ll hopefully give you plenty to think about. If you’re falling behind, the main thing to remember is that action is the only thing that will help you to remedy the problems. The sooner you decide that enough is enough, the better.