Just because people work for the same business, doesn’t mean they work as a team. If you want to achieve anything of consequence in business you need the commitment and co-operation of all your employees.
It is no secret that an effective team can dramatically increase the likelihood that business will achieve its goals. The only way you can ever have the confidence to take time – off and get break from the business is when you can rely on others to run it when you are not there.
Recruiting great employees is a major challenge – there is a war for talent and in many ways large companies are better place to win the war.
They offer good training, the chance to travel, can afford to pay more, offer clear career progression and other benefits talented ambitious people are looking for.
As a small business you need to compete, you need to make yourself an employer of choice.
Many people enjoy the familial environment that can exist in a smaller business, they value being closer to the decision making process and they can develop pride a loyalty they may not have for a faceless ‘corporation‘. it all comes down to how well your team gels.
Do they respect each other, work well together, communicate and pull together? Creating a winning environment will do a lot for business productivity, but it will do even more for making people want to work for your business.
What are the consequences of not getting the people thing right?
On the legal side, if you do not manage HR properly then all sorts of problems arise. These are well documented and understood by most owner – managers, however the area of business performance is where it can really hurt you; poor productivity and hence poor profitability is a certain consequence of a team not working well.
Absenteeism and staff turnover with the associated loss of corporate knowledge, high recruitment costs and lower customer service standards are some of the typical problems that arise.
What are the warning signs?
There are many warning signs that you may have challenges in this area. If you see disharmony in the business, lack of cooperation or collaboration, poor communication, decisions not being fully supported and implemented, rules and procedures being ignored, low team moral, little or no employee commitment, lack of individual ownership of tasks and responsibilities, low levels of trust or the formation of cliques, then there is a high likelihood that you could improve this area.
Sometimes we speak of the invisible balance sheet of business. This refers to those business assets that do not appear on your financial balance sheet.
Your people are undeniably a major business asset on your invisible balance sheet and, like every other asset, return can be achieved if the asset gets the right ongoing investment.
Wootton Taylor can help you achieve this return.
What our clients have to say
Gary’s input is excellent and totally valid. He has the ability to challenge one’s preconceptions and to such effect that I actually look forward to putting those suggestions into practice as soon as possible… I cannot recommend too highly the services of Wootton Taylor
We use Wootton-Taylor for accountancy and business advice. Gary has always delivered an outstanding job. He is honest, thorough and good at what he does.
After following Gary’s recommendations, we have put together a new business plan focussing on specific business areas and have re-structured our organisation… I can now see the light at the end of the tunnel
I frequently recommend that my clients meet with Gary for business advice and over the eight years I have known him, he has done nothing other than impress my clients and make me look better in their eyes. He is reliable, professional and always delivers and he fast becomes an integral part in the ongoing success of their business.
Gary was able to assess a better way of marketing my services. Since applying Gary’s suggestions my business has grown by more than 50% in the last 18 months. I have therefore no hesitation in recommending Gary Taylor of Wootton Taylor to any business or company, confident that he will make a difference and that they will be delighted with his service.
Through the advice I was given by Wootton Taylor, I have been provided with a clearer direction for my future business plans when making decisions. I have been able to run the company’s finances without fear or negative impacts on the cash flow. I hope that I will be working with Gary for many successful years to come.