Human Resource Management: 5 Tips for Small Businesses to Efficiently Manage Employees
A dedicated and hardworking team of employees is important for any business organisation to succeed. Human Resource (HR) is as important as financial resources for the well being of the business. Firms are advised to take good and proper care of their employees and keep them motivated to strive for the best results. A positive working environment also increases the productivity of the employees. Skilled, trained and industrious workforce can help the business move swiftly through difficult times with limited financial resources. It is therefore, highly crucial to hire and retain efficient employees. 4 Successful Tips to Run Discounts & Special Offers For Your Business Ahead of Christmas 2020 & New Year.
Businesses should also lend a patient listening ear to the employees. They should feel valued. Owners need to understand the grievances of the employees and provide quick and satisfying redressal to them. Here are some tips for small businesses to follow to manage human resources at work :
Offering Adequate Compensation
One of the biggest motivator to work is the financial incentives. Employees should be paid adequate compensation matching the level of efforts they put in the work. The remuneration should be at industry levels and on a similar range to that offered by competitors. Offering attractive benefits like health insurance, family insurance, gratuity benefits among others are also helpful in persuading talented people to join the business and stay.
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Ensuring Employee Safety
Most firms over look employee safety at workplace. But reports of workplace hazards and accidents are not uncommon. Such incidents reduce the morale of the employees and they even tend to quit the job. Employee safety is the utmost responsibility of the business owner. The businesses’ should continuously assess the risks, put controls in place and ensure that everyone follows the safety rules. National Startup Awards 2021: DPIIT Invites Entries to Reward Outstanding Startups; Know Eligibility, Prize and How to Register Online at startupindia.gov.in.
Resolving Conflicts
Another important way to encourage employees to perform better is by providing quick redressal of their complains and conflicts. Understanding and listening to employee’s issue gives them confidence in the firm and they feel valued. Owners should also encourage the employees to speak up. They should acknowledge that a difficult situation exists and let employees express their feelings. Quick actions on the complaints should be provided with monitoring and follow-ups.
Give Proper Feedback and Appraisal
Small businesses should make sure to give continuous and helpful feedback and appraisal to the employees. They should appreciate the good work done and provide constructive criticism if their performance is not up to the mark. Owners should also set performance goals and award employees who meet them.
Follow Clear Employment Policies
The business should formulate and follow clear employment policies. These should be applicable to all the employees alike without any discrimination. These should include proper and detailed hiring and retention process, compensation packages, career path of the employees and other related aspects. The employee should also be communicated about these policies clearly. Following a set of rules and regulations, increases confidence in the employees.
Businesses can not solely function on the financial resources. Human resources are an equally important component in the success journey of the business. The small businesses should therefore, make sure that their employees are treated well and work to the best of their capacity.