According to the winner of Scotiabank’s Small Business, Big Impact Challenge in the Employment category, understanding the value of good employees is the key to growing a successful small business.
“Employees are an investment in the future of your company; if you treat them well and get them working at their full potential, you are in a great position to succeed,” says Mark Winston, creator of Burrard Market Square, which houses 17 start-up retailers in Vanderhoof, B.C.
Following are Winston’s Top 10 tips for being an effective small business employer:
1. Hire only when necessary
Do you have enough business for an employee? Don’t hire until your business really requires the support.
2. Hire wisely
Look for people who are the best fit for your company. Hire slowly while you determine the types of employees that will enhance your business.
3. Learn to say no
If a potential employee has demands in terms of salary and benefits that don’t fit with your company, don’t hire them. As your business grows, you need to work in the best interest of your company as a whole.
4. Pay attention to employees’ needs
Get to know each employee and his or her particular set of goals and needs.
5. Maintain a balance
Learn about the dynamic between your employees and how to balance each employee’s needs to the best of your ability.
6. Create a positive atmosphere
A company’s attitude stems directly from the boss. If you work to foster a dedicated, positive atmosphere, you can reap the rewards of getting the most out of your staff.
7. Invest in your employees
Care about employees’ growth and work to get them invested in your business’s success. Show staff that as the company grows, so too will their careers.
8. Take your position seriously
Employees put their faith in you that your vision will succeed. You are taking responsibility of their futures and need to think proactively to steer your company through whatever challenges you may face.
9. Be creative
By coming up with new and original business ideas, you are setting an example for your employees to do the same.
10. Listen to your community
Your clients will tell you what you need to do in terms of employees, such as when to expand your staff.