Mar 27 2017
Finances and spending are always a source of stress for business owners. The massive overheads or outgoings you suffer can be the undoing of your company, and making the choice of where to invest becomes a game of metaphorical ping pong before you decide to spend a little on each sector in the hope that it can buy you some time. But there’s one thing you’ve overlooked, in preparing your finances, you are likely to have forgotten the one thing you should really invest in, and that’s your staff.
Your staff is important in so many ways, but financially speaking, they are the reason that your company is performing well or not so well. You need to rectify this, and there are many ways to instill a bit more morale in the team, such as communicating good behavior or leading by example. But financially speaking, people will always be grateful for a rise in pay, but if this is something that is not within your budget in the immediate future, you should look to improve the working environment. It has been shown that workers are more productive if they have good quality downtime, and if you invest in a space that makes your staff temporarily forget about their work, they can come back to their desk feeling reinvigorated. Google headquarters are making their spaces more about the quality of the breaks the staff is having, and although a breakout room is nice, it can be cramped and sterile and doesn’t lend itself well to an upbeat working environment.
Other ways to invest in your staff is to make token gestures, such as things like gift vouchers. But if you are running a small company, it is unlikely that a voucher will be thanks enough for the hard work they have put in to set up the company with you, so a bigger gesture may be called for. Gestures that you care about your staff are really important. It shows that you care, and it shows that you value their contribution to the company. Staff members can have a lot of personal problems, and if you can extend the olive branch in some way, then it means a lot. For example, there are homes for sale that you could purchase as a weekend retreat, and hand the keys to a staff member that really needs to get away is a great bridge builder, and it shows that you trust them. Working in a tight environment in a city center can cause a buildup of stress and anxiety, and so people need time away. Or if you cannot afford to give your staff time off because there is a big project due, you could have “relaxation stations” set up, and have masseuses and stylists to give your employees a bit of time to destress and to unwind properly.
Investing in your employees’ welfare is a worthy investment, but one that can be overlooked. By extending personal touches and putting some money into something that they can truly benefit from, you will know you’ve made a sound investment.