Tag: human resources

What about our employees during COVID19?

The current global health crisis is shifting the way businesses are able to operate. Many are having to adjust their practices and strategies, and are facing abrupt and devastating changes to their financial stability. There’s been a lot of  concerns from our clients about what they should be doing with employees during the COVID19 pandemic. Employers have a few options, which we’ve explained here.

Different options when it comes to payroll during COVID19 – reduction in hours, layoff, furlough, keep on employing people and apply for a loan – not sure what’s right for us and our employees. If we reduce salaried or hourly employees to below FT (below 32 hours/week), employees could lose their benefits What should we say to our employees? How to manage sick leave – what’s mandated, and what should we do? Are business owners eligible to receive unemployment?

Gain Control by Giving Up Control – trust your people, delegate

We have a lack of organization structure. Not everyone can be a manager. We might not recognize the candidate who can be a lead – and I’m not sure what a lead is, anyway. On the other hand, I can’t leave unless I give a list of things to do to people. They don’t take initiative to look around at what needs to be done. And when I come back half of stuff isn’t done and gets pushed back to me, and I get bombarded. What should I do?

Thoughts of the Day: Building organizational structure is one of the hallmarks of a stage 2 company. Figure out what you have to work with, and how best to organize that group of employees into more efficient units. Learn to delegate tasks and projects to teams. It’s important to make sure employees know where the company is headed, and the role they play in helping the business get there. Conduct regular meetings, and work with the teams to build a Next Action Steps List and review and discuss progress and hold ups.

Designing the future ownership of your business

Been having a lot of discussion lately about what the next generation of the business will look like. Who will run it, who will work in it, what kind of work we’ll be doing, and how we’re going to adapt to stay current. Wondering if you have any recommendations on what to consider, and how to go about planning for the future.

Thoughts of the Day: Thinking about the future is critical to ensuring success. Do a critical needs analysis. Make a plan that describes where the business goes next, and how it gets there. What problems are people trying to solve and how can you make things easier? Deal with the reality of limited workforce availability. Consider ESOP as a model for future ownership, if your company is strong enough.

Finding talent – rethinking how we hire

My state is under 3% unemployment. It seems like few in that remaining 3% are trying to work. Hiring has been an obstacle. Without additional qualified employees who are committed to working hard and getting ahead, as a business we’re going to get stalled. We don’t need a lot of employees, but we need good ones. Where should we go to find them?

Thoughts of the Day: Low unemployment is one of today’s big challenges for most business owners. Make sure your company is offering competitive wages and other opportunities that make it an attractive option. Widely publicize the fact that the company is looking for talented personnel. Learn about applying for visas to bring in talent from other countries. Build training programs to grow talent internally. Consider doing acquisitions to pick up the talent you need.