Whether you are a current owner looking to improve your franchise, or looking to get started in franchising, the issue of the recession is probably on your mind. Every small business or franchise owner needs to tighten the purse strings during a recession in order to stay afloat; it’s a critical step in keeping your business solvent, but it can be detrimental for office morale. It is difficult to ensure employee productivity when your employees are more concerned about downsizing and losing their jobs. So how do you keep these employees happy and motivated when they know the business is in trouble?
See a few tips below, courtesy of Marshall Goldsmith at Harvard Business Review.
- Make the Environment Exciting and Challenging: People hate monotony, and there is nothing worse than going to work knowing you will either have boring work all day, or that you have very little to do. As the boss, you should have incentives for employees to start interesting projects, as well as ongoing training and skill development. Create a dialogue with your employees to get ideas, take their suggestions seriously and put them into practice.
- Provide Coaching: As the boss, you should be paying attention to the individual talents and interests of each employee. Once you have a clear understanding of what each person would like to develop, work with them one-on-one in a coaching relationship to further encourage those skills.
- Give Feedback: Once you start giving employees specific assignments that they are responsible for, it is good to meet regularly to go over the progress and create an environment of accountability. This will improve your own personal relationship with your employees as well as keep you up-to-date on everyone’s duties. In a large office, encourage groups to meet weekly to discuss projects that may have similarities between them so each employee learns a little more about their colleagues.
- Offer Cross-Training: Your company should constantly be improving, and what better way to do that than to use cross-training – giving people the opportunity to experience and train in different aspects of the company. If employees are given the chance to explore other departments, they will not only have a better perspective of how the company operates, they may find they have great untapped talent in certain areas that they would not have ordinarily experienced.
Check out the full article at Harvard Business Review.
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