Don’t Forget About Your Staff

Okay, I know, one more thing to think of in this awful market but hey, you wanted to be an entrepreneur so this is what it really is…so glamorous, isn’t it?

Just kidding, I love being an entrepreneur but it does involve keeping a lot of balls in the air and one of those is the successful management of your greatest asset…your employees.

These are scary times for all of us and it can be even scarier for your employees because they are not privy to your thoughts most of the time.  They don’t know what you’re thinking…can you survive this market, will you be able to retain everyone, will pay cuts, benefit cuts, etc. be necessary.  Other than quitting and taking another job, they have very little control over their destiny as an employee!

So what can you do?  Here are some suggestions:

1.  Plain talk – tell the truth, the good, the bad and the ugly…be totally honest about where things stand and what you’re thinking;

2.  Encourage them and reassure them where you can but don’t make promises you might not be able to keep;

3.  Listen to them – give them the freedom to express their fears

4.  Hold periodic rally sessions – have lunch together, reiterate your vision for the firm, talk about why what you do for folks is so important ESPECIALLY in these times;

5.  Team building – some great exercises can be found at www.teambuildinginc.com

A few other Do’s and Don’ts

1.  Don’t lie under any circumstances or gloss over the truth;

2.  Don’t let poor performance slide

3.  Do keep a compassionate heart

4.  Do seek out peer or coaching support for yourself

5.  Don’t be a caretaker – be the employer

Again, we’re all in this together.  This a great time to create even more team cohesion – be transparent, be honest and be compassionate and you’ll build even more loyalty and further cement your employees as fellow visionaries.

As always, I welcome your thoughts.