Let’s talk about size. Does it matter when it comes to maximising the performance and productivity of your team? In this post, we take a closer look at what size means for any business in terms of its people.
If you’re part of small business you don’t have to worry about people-related matters right? There seems to be a perception that the less people, the less problems meaning people management isn’t an issue. But from our experience, it doesn’t matter how big or small your business is, people management is important to your business. Creating a culture that supports your business goals, ensuring your team works well together towards common goals, the structure of your organisation, and even workplace planning are all important regardless of size.
Many small businesses (though not all) think they need to be bigger before they invest in their people. But in fact, people management is easier to get under control and maintain when you are smaller rather than waiting until you think you are “big enough” to worry about it. At the end of the day, efforts to maximise the performance and productivity of your people increases profits, and if you could increase performance and productivity by even the smallest of growth, why wouldn’t you? Growth isn’t always measured in terms of the number of employees you have, but in the success with the people you do have.
In a study by the University of Chicago, researches noticed that most small businesses have trouble innovating when a small number of employees were straddled with growing demands. Time for innovation was being used up by immediate needs. Perhaps the first thing you think of is hiring new people. But before doing so, have they reviewed alternatives to doing so? What about changing processes. For example, you’re thinking to hire another person for customer support, but when reviewing your customer service emails you notice that many of the questions asked have already been answered online. Changing the flow on your website to have people see frequently asked questions instead of letting users email directly from any page could reduce your support load, making hiring no longer necessary.
Invest in your people
Investing in the advancement of technology is important, but even more important is investing in people we believe in and trust. People are the key to any organisation, and you should invest in each employee at every level, no matter what your business size, this pays off in a myriad of ways:
- Less turnover
- More innovation
- More engaged workers
- Overall growth in revenue
Here are some ways to invest in your people that make employees feel valued for their contributions:
- Continuous learning and training
- Reward Programs
- Upgraded Remuneration packages
Aside from giving employees the morale boost and job fulfillment, it also cuts company costs in terms of manpower replacement or new hire sourcing because you already have people ready to step into management shoes. If you invest in your employees, they will invest in you and in delivering the best experience possible to your clients. In turn, your business will grow with loyal employees that turn into loyal managers, who will help invest in others along the way.