In this recession, one of the most challenging things is for a business to stay afloat. If you read the papers or turn on the television, there are reports of companies closing down and a lot of people being laid off. Such news is very disheartening and as an owner of a business, you have to know how to motivate your employees or be part of the statistic.
So how do you motivate your employees in these hard times? Well the first thing you have to do is talk to them so they are aware of the current financial status of the company. The bad news like sales are down is an eye opener because they know that the company is on a verge of collapse but there is hope.
The hope is what you and they must work together for otherwise, your business will crash and they will be out of work. This begins by setting a goal and then coming up with a plan of action.
Perhaps the best solution is to cut cost and that means finding cheaper suppliers and reducing expenses. Keep in mind that letting a few workers off is another option but you need these people so don’t axe them.
Another way is to come up with realistic goals like how much you should make in a month so your employees will get paid and the business is still profitable. As the owner of the business, you have the final say in these matters but it wouldn’t hurt to also let your employees come up with their own plan of action and meet the same goals.
All work and no play will make things dull. To spice up things, add some fun into it by coming up with a rewards scheme which always inspires employees to do more.
You don’t have to give a plaque of appreciation or something with monetary vale. What you can do is offer these people a free day which means a “day-off” from work apart form the leaves that they are entitled to. Don’t forget that the day off should be given with pay which makes it more interesting to get.
Since this is something that every employee may not be able to accomplish, find a way to reward everyone as well for all the work they have put in. A good idea will be to host a barbecue at your place or a fun day where everyone is given free passes to a local amusement park. Remember these are just ideas so try to find a rewards scheme that is within your budget.
The success of your business depends on the men and women that work for you. So you know how things are doing and they are up to date with what is happening, it will also be a good idea to hold a meeting once a week.
While you are there, buy donuts and coffee. At the same time, give them the floor so they can air out their concerns. Who knows, they may even have a few ideas which you have never thought of before.
Employee motivation is something you must have in order for your business to stay afloat. Doing that is not going to be easy but it can be done with their help.