Your Competitive Advantage...

If you're the owner of a small business, you know the margin between success and failure is very thin.  You need every advantage you can get.  Marketing, efficiency, economy...each has to be at it's best.  But there's one area that can give you more competitive advantage than anything else, and it doesn't take loads of investment to get there. 

Value Your Employees

Every person who works in your business is a potential goldmine.  If you treat them correctly and keep them motivated.  Studies show that what employees want from their job can be (superficially) boiled down to three things:

• Equity
• Achievement
• Camaraderie

Equity - people want to be treated fairly with respect.  Communicate, communicate, communicate.  And that means listen more often than speak.  Full communication not only helps get the job done better, but its a sign of respect.  Face up to poor performance.  Find out what's getting in the way of improved performance.  But also, don't shirk from dealing with poor performers, or your best people will soon lose their motivation.

Achievement - Instill an inspiring purpose in the workplace.  Help your people understand how important they are to you and to the mission.  Having a mission statement is a powerful uniting tool.  Provide recognition.  People need to be recognized when they do something well.  It gives pride and strengthens their connection to the mission.  Coach your team for improvement.  Help them reach the next level.  Most people are excited by progress and mastery.  Those who aren't will soon make room for others.

Camaraderie - People love to feel a part of a winning team, just look at professional sports fans.  Promote teamwork.  Teams are more effective getting things done well than individuals, and most people get a morale boost from feeling part of a team.

In short:

** Listen and involve your employees in the business.
** Promote teams and show interest in their ideas.
** Give your teams freedom with defined task boundaries and let their imaginations fly.

A word about money.  Most business owners feel helpless to ask more of their employees when they can't give more money.  Especially when they can't give big raises because they're just barely hanging on now.  I spent twelve years as a corporate compensation expert and I can tell you that the excitement from a money raise fades very quickly, and with it, any increase in motivation.  Money doesn't buy happiness...for very long.

For long-term satisfied employees, your best tool is to value your employees and make them feel it.  Recent surveys have shown that people are feeling less valued at work than ever before.  Think it's because of their pay?  Actually, the largest percentage (42%) said they felt less valued because of the behavior of their manager or supervisor.

Not their pay, workload, benefits...the behavior of their boss.

Yes, money is important, but not the most important.  A successful business with motivated employees generates money and raises.  But a valued workforce generates a successful business.

http://www.manifestationcoaching.com/