Managing employees is one of the more challenging, yet essential, tasks that you'll need to stay on top of as you manage your small home business.
Being in charge of your own employees may sound glamorous, and if you've been fortunate enough to work for an employee-friendly company, your experiences may have been positive.
But owner operators will tell you how frustrating it is to see your biggest expense walk out the door each evening. They'll talk about their hiring and firing challenges - and the hurdles they face at the recruitment stage.
If one of your key people goes to the competition, how vulnerable are you? Finding and retaining top people is one of the top issues that keep executives awake at night. What if it happens to you?
This is why so many small businesses are preferring to arrange joint venture relationships with other small businesses. so that they can take on the task of managing workers together.
Spending money on employees can be difficult too. Should you repair this equipment or invest in new? Is it better to order 10,000 brochures at a lower unit cost than 5,000, but using more up front cash? How much is your time worth, compared with what you’d pay someone else to do the research? Should you outsource or hire... or train your current people?
And what about hiring friends and family members, as many small business people tend to do?
As a supervisor, discuss the discomfort and concerns you each may have about your work relationship. The job needs to get done, so clarify what you expect, just as you do with other employees.
This is where a job description comes in handy. If problems should arise or performance be below standard, you can use the job description as an objective performance barometer, saving you from guilt and power struggles.
In the end, you'll need to decide what the best strategy is for you and your business in terms of managing employees. Yes, it can be extremely challenging... but it can also be rewarding!
This video may provide a few other pointers on some of the challenges of managing employees:
