Sunday, 29 April 2012

Employee Morale Improvements – Small Things You Can Do as a Leader


April 29, 2012

employee moraleEmployee Morale & Leadership Goodwill

As a manager, leader and entrepreneur you have a responsibility to ensure employees are interested and happy in the work that they do, and in the environment where they work in.

There are things you can do to change up the environment and make it more positive for your valued staff, leading to improved employee morale.
Here are some low-cost ideas that will have big impacts to employee morale:

Recognition to Build Employee Morale

In your weekly meetings, whether it’s a stand up meeting, conference call or through video-conferencing, take the time to frequently identify and recognize specific team members or units for their achievements and success.  As part of your core duties on a regular basis, you should be engaging with staff and scanning through your units for performance highlights.  Keep in mind you want to recognize all in phases, so that all who are putting in efforts are recognized.  Even the small successes should be recognized.  With recognition, staff will feel valued and morale in the organization will pick up.

Spend Time and Listen to Your Employees

You will gain much respect as a leader if you take the time to listen to employees about their concerns, either in operations or the personal challenges they all face.  You will understand your operational issues better the more frequently you engage at the ground level.  Employees will feel more valued if they are listened to and if they feel their input will have an impact on change.

employee moraleFruit Rewards to Improve Employee Morale (and Health)

Every once and awhile bring in a prepared fruit platter for your team to share during breaks and lunch hour.  Throw in an exotic fruit or highlight local produce to raise attention and interest in what you are providing to staff.  In providing a small token of appreciation, staff will realize that you are giving back.  On your side, you are providing something of nutrition value, promoting a healthy work environment.  If you are in an area where local fruit is plentiful, bring in fruit care packages for staff to take home.  Staff will appreciate this as some may not have the time to pick up the produce and will take this home to share with their family in the healthy initiative.

Volunteer Day

Many employees are either engaged or would like to be engaged in volunteer activities.  In your benefits package to employees ensure you include a paid day per year for employees to partake in volunteer activities.  Provided that it does not impact your essential services, allow employees to pick, choose and schedule in a day to dedicate to good causes.  Give them the opportunity to do a bit of sharing and promoting of causes at your business.  Not only is this a good notion for employees and for community, but it also build solid relationships for your business with the community and organizations in need.

Special Guests Build Employee Morale

Bring in a special guest to speak on topics that could benefit your staff.  You could encourage a partnering firm to come in and speak about a topic or have a motivation speaker enlighten the crowd.  Inviting in and scheduling in a speaker could make your work environment more interesting and gives your team a break from the sometimes monotonous work duties.  To keep your costs down on such an activity, make arrangements for mutual exchanges, or if there is a added benefit for the person to come, they may come at no charge.
As an entrepreneur, always gauge your team for the level of workplace satisfaction and employee morale.  With some back pocket strategies for employee morale building, your team will perform better and will stay with your business longer as an employer of choice.

Business information, resources and tips for the entrepreneur
© 2012 Strategy Plan One

Saturday, 28 April 2012

Cost of Gas – Current Trends and Impacts on Business


April 28, 2012 

Cost of Gas

Current indicators are favoring lower prices in fuel, especially the cost of gas, over the next few months.  The recent downward trend in gas futures is most likely signally lower fuel prices at the pump in the short-term.  The following graph illustrates this decreasing trend, with a drop in gasoline futures of $0.21 per gallon over a month, a 6.4% decrease this month alone.
cost of gas
Graph courtesy of money.cnn.com
The potential downward trend, once it hits the pump is good news for the consumer, for business and industry, who rely on transportation of goods and feel the impact of the cost of gas associated.  If it translates across to the user, a rough 6.4% decrease in fuel costs will help businesses who are struggling to balance budgets with the recent, previous spike in fuel costs.  This should be noted as a potentially lasting on the short-term, as patterns change with summer months and supply and demand.

Oil Prices

The cost of Brent Crude Oil has slightly declined over the past month, mimicking the gas futures trend.  The following graph from oil-price.net illustrates the similar pattern, with a dip in crude oil  from a high of almost $125 a barrel to the current price of $119.
oil prices
Graph courtesy of oil-price.net 
Speculation has now simmered from the fears of gas hitting $5 a gallon, but consumers and businesses should take this information with caution as the impacts may be short lived, with other global concerns and factors weighing into future gas and oil prices.
Business information, resources and tips for the entrepreneur
© 2012 Strategy Plan One

Friday, 27 April 2012

Effective Decision Making Processes Integrated at all Business Levels


April 27, 2012 

effective decision makingEffective Decision Making Process

Every business opportunity, every operational activity, and every financial budget requires decisions.  Decisions can be made in an ad-hoc, instantaneous manner, but we have all encountered challenges that occur after a snap decision.

Effective decision making processes set the stage for standards for making the right decision, involving the right people in your organization, with appropriate tools and mechanisms.  Great effective decision making processes will make your organization and professionals more responsible and accountable for decisions made
As an entrepreneur you will develop procedures that will need to be done to make a decision.  You will integrate specific staff members, at all levels, into the decision making process that will make a better informed, effective decision.

Elements of Effective Decision Making Process

Similar to a strategic planning cycle, decision making processes follow a set of steps:
  1. Identification of the Issue
  2. Development of options to resolve
  3. Selection of the best option
  4. Recommendation of the option
  5. Approval of the proposed solution
  6. Implementation of the best option
  7. Measurement of result
  8. Revision of the process / options 
effective decision makingYou will determine who on your team should be involved and should participate in decision making.  You will want to involve those who are functional specialists who will inform you on the best operational, ground-level solution and what the implications are.  You will also want to involve unit managers and supervisors who can recommend the best option after being informed by their area experts.  Keep in mind, you want to have a streamlined decision making process and not to include too many.   Less is best when decision time frames need to be considered or if client services are impacted by decision time frames.  You can still develop a highly accountable decision making process with select staff, streamlining approvals through one stream of employees.

Effective Decision Making Processes – Determining Priorities

Decisions need to be prioritized, with reference to many factors that do go into why decision need to be made and to determine which decisions need to be focused on and approved first.
You may determine priority decisions be made by the following factors:
  • Time factor or time limiting
  • Emerging, immediate needs
  • Client service focus
  • Financial impacts
  • Risks to the organization

effective decision making

Effective Decision Making Processes – Risk Management

A strong and embedded effective decision making process in your business will minimize the risk to all aspects of your business along the way.  As mentioned the stronger your decision making process, the more accountable your staff, units, managers and the business itself will be.  As a good planning practice, you should develop your business plan to reflect effective decision making processes at operational, management and corporate levels.

Business information, resources and tips for the entrepreneur
© 2012 Strategy Plan One

Thursday, 26 April 2012

Self-Service – The Evolving Automated Customer Service Experience [Infographic]


April 26, 2012 

Self-Service

The automated customer experience around self-service has come along way, evolving from the invention and implementation of clunky vending machines to the new wave of online streaming of transactions, from anywhere and at anytime.
It is interesting to note that self-service has moved from the delivery of tangible goods to the delivery of information, transactions, digital products in this information era.   However, self-service intersects many sectors, and almost anything is available for either a physical self-serve kiosk or through the web.  In your business planning, have you integrated self-service concepts into your business to make transactions easier, more convenient and accessible to your customers?
Check out this great infographic by Meridian, illustrating the evolutionary time-line of self-service.
self-service - automated customer service

Business information, resources and tips for the entrepreneur
© 2012 Strategy Plan One