Savings 109: Your April 2019 wealth tips

Today I want to touch on the topic “building a strong workforce.”
The greatest asset of any successful company in the world lies in its motivated workforce.

The greatest asset is not in pricing, product features or even the highly sophisticated marketing strategies.

The workforce is the bloodline of the business! Every entrepreneur needs to build a strong motivated workforce to succeed.
As an entrepreneur, you cannot be everywhere at the same time. Even if you have the powers to be everywhere at the same time, chances are that you will not hear everything!
It is, therefore, a must that as much as practicable, we place the workforce at the center of our business from the outset. You need to put in place a team that can help you meet your goals and that of the shareholders.

A successful company or business runs well when employees go about their routine work with a team mentality, each fulfilling a needed role and fulfilling long term goals.
In building this strong bond, Entrepreneurs’ should follow these basic steps;

1. Focusing on Roles: The Entrepreneur should target and employ people to fill specific roles that they have interest in and not just filling a room with bodies. Employees should be given task that interest them and not what we feel they can do.

2. Value each Role: Every worker in the organization brings something special to the table which must be valued by all especially the owner. In some organisations, roles like the receptionist or personal assistants or customer service are looked down upon in relation to the Finance Manager or Business team. This is a major error that must be resolved because if the reception fails, the whole business has failed. Each member should feel like their job matters.

3. Communication: Information flow in any organization is very important! Information should be shared equally among the workers without one person feeling powerful because they have more access to information. In the same vein, each team member should be given a voice to complain or make suggestions without intimidations. The Entrepreneur should constantly ask for feedback from the team on decisions taken because the organization is a living being.

4. Goals should be clearly stated: The goals of the organization and expectations should be clearly explained and documented using the SMART approach i.e. Specific, Measurable, Assignable, Realistic/Relevant and Time bound. The goals should be broken down into short and long term.

5. Success should be celebrated and not just failures: Do not always be quick to throw a team member under the bus when they go wrong. Performance discussions should also be organized in a more professional manner and not personal attacks. Whiles you do this, do not lose sight of the fact that successes by the team needs celebrations. This brings the team together and allows everyone to see that when they work hard, great things will happen.

6. Knowing Each Worker: As much as practicable, you should have an insight about the personal life of each worker. Personal here is being used advisedly. Engage in an offsite socializing programme with the team. This gives you and the team the chance to appreciate one another for more than just the job you do.

I hope these few steps would go a long way in building harmony in your team rather than acrimony.

I wish everyone a wonderful and memorable weekend!!

Gratias!!! 

Patrick is a chartered banker and has been a qualified member of the Chartered Institute of Bankers, Ghana with a good membership standing since the year 2013. Patrick is a chartered banker and has been a qualified member of the Chartered Institute of Bankers, Ghana with a good membership standing since the year 2013.