According to research, 49% of companies have put money into improving their human resource management.
This statistic shows how important every company’s human resource is and the need to manage it well. However, not every entrepreneur flourishes in this aspect and below are a few mistakes some business owners have made when managing staff.
Entrepreneurs hold back when they need to fire some employees
Employers get reluctant when it is time to let go of bad hires. When business owners realise an employee is underperforming, they tend to hold on to allow them to figure out ways to boost the employee’s performance. And that may not be a bad idea. However, upon realising that all other efforts are proving futile, it is better to fire such an employee. By doing so, you save the overall performance of the company from being dragged down. And you also prevent other employees from getting too comfortable with underperformance.
Entrepreneurs tend to pay little attention to motivation
Many entrepreneurs spend most of their time focusing on products, services and operations and leave out motivating their employees. However, even though your staff get paid to do their jobs, you should consider making it a priority to motivate them and boost their morale. Motivating your employees will make them feel a sense of belonging and appreciation, making it easier for them to work hard. You can encourage your employees with staff gifts, bonuses, citations, etc.
Entrepreneurs often hire less than they need
Most entrepreneurs make the mistake of understaffing, and this ends up causing their employees to have divided attention in the workplace. It is another mistake to avoid as an entrepreneur because it causes your employees to become less motivated due to the constant multi-tasking and overworking. It may even cause them to quit their job. It may also affect you as an entrepreneur because you may struggle to concentrate on your core duties. When your employees are put in such a situation and hence leave the organisation, you may end up with numerous vacant positions. And that may negatively affect your business as a whole.
Entrepreneurs often match employees to the wrong roles
Business owners make the mistake of assuming employees’ abilities are similar to theirs. Therefore, they end up overestimating the output level of their employees. It’s a mistake you can avoid by taking the time to monitor both your new and already existing employees. Get to know their strengths and weaknesses, and it will help you properly match their skill sets and interests to the right role and attain maximum output. Also, keep in mind that every employee is different, and some may take more time to adjust to new positions and tasks as compared to others.
Managing staff may not be your strength as an entrepreneur, but you can learn from others’ mistakes. Doing so will make the whole process easier for you. Remember that when your human resource is well-managed, your business will thrive.