Here at the practice, we have lots of sessions where we ask challenging questions of ourselves and our members. One of the key Check-ins we had in January looked at what we all learned from the previous year and I have been asked on several occasions to publish the discussion.
This would take ages to do so and frankly my experience is that most people would not stay the course so for the next few weeks I will list one of the nine keys that came from the discussions and my take on them.
This month: Don’t have a two-tier system!
I have seen many family businesses flourish and grow yet some have withered on the vine. Why did they fail? Originally hard work and perspiration meant as the business grew more staff were employed and eventually the family rewarded itself for its labours.
Fair play I hear you say, however on many occasions the family didn’t reward the staff that had helped them get there. A phrase ‘just do your job’ was prevalent, compliments were very rara creating eventual resentment. Staff turnover increased, culturally the business became an unhappy place to be a part of.
And of course, sales and turnover suffered, the business declined, the family kept taking their money and hey presto no business…
Now fortunately many family businesses resist this two-tier approach of us and them. Most are more enlightened and recognise the fact that they are only as good as the weakest link in the chain. So, they invest time, money, and education to help their staff become the best that they can be. And at the appropriate time reward their staff with recognition, approval, and financial gain appropriate to their efforts.
Funny enough these businesses thrive, have a great open culture and people queue up to work at them.
Two tiers don’t work: create an even culture and you have a better chance of success.
The practice has lots of business as members who do just that and they would love a chat…Why not get in touch?
Until the next time…
