As a business owner and entrepreneur, one of the best ways of managing your business is by investing in your employees. Current employees are likely to help you record better results than newcomers. It will take time for a new employee to adapt to the new working environment, a factor that may hinder your business’ performance. One needs to make the workplace an enjoyable place where employees are can love spending their time. As an entrepreneur, you should avoid making your employees clock-watchers, who will take the slightest opportunity to be out of the workplace. Also, avoid office politics that normally pit workers against each other. As a business owner, you should spruce up your workplace and make it enjoyable.
Another factor that may contribute to good performance in the workplace is rewards to workers. Rewarding employees is a means of motivating them to work hard and achieve better results. Rewards make employees feel that they are recognized for the role they play in the company. Any form of reward, be it a gift or an off-day is a way of appreciating them. Workers will, in turn, reward your business through hard work.
A brilliant entrepreneur will not shy from spending some extra money on the employees. Another way of helping your employees is by initiating Employee Scholar Program. Such programs mainly involve helping employees with their education. By contributing to their education, they are likely to serve in your organization for a long time. The knowledge they acquire in the process of learning may also be of great importance to your company.
About Louis Chenevert
Louis Chenevert is the former chairman and CEO of United Technologies Corporation. If there is someone who knows how to run a business, then it has to be Louis Chenevert. During his time as CEO, he invested profoundly in the education of employees at UTC. The company spent billions helping its employees to farther their studies.
Louis Chenevert used the Employee Scholar Program in the company to assist his employees to earn a degree in a field of their choice. Through this program, UTC would cover the whole educational expenses for its employees.