How to Manage a Business Part 1 – Start with Your Employees

How to Manage a Business Part 1 – Start with Your Employees

Daven Michaels

Daven Michaels

New York Times Bestselling Author, 30-year business veteran, and Executive Chairman of CurrentC Power.

Managing a business is usually a demanding task. You are required to pay attention to tons of details.Managing your employees is an important aspect of business management, whether you’re using outsourcing service providers, full-time staff or both.

In managing your employees, it’s important they are well-informed, continuously motivated and satisfied. Also, while managing your staff, you need to pay attention to your business financial needs at the same time, as well as innovating and growing your business. This part 1 of how to manage a business will focus on managing your employees.

First, Decide on Your Mode of Staffing

In essence, what do you prefer when it comes to staffing – outsourcing your business functions or hiring employees to handle them in-house? Each option comes with its pros and cons. But, indeed, outsourcing comes with benefits that far outweigh the negatives.

The major benefit of adopting outsourcing solution for your staffing need is the ability to cut huge staffing cost; this includes the cost of finding, hiring and training employees in-house, the cost of setting up office/work-space for the in-house employees,the high remuneration cost associated with full-time staffing, as well as overhead cost.

However, you should critically look at those business tasks that should rather remain in-house.But, typically, you should consider outsourcing most administrative and repetitive tasks, so that you can focus on the core competencies of your business or company.

Think of an Appropriate Staff Size

Another crucial step in managing your staff is to determine the staff size that will suit your business needs. This decision is necessary both at the start-up stage of a business and management of an existing business.

A great way to determine your staffing need is to determine the functions that need to be carried out in your business and the different skills required to execute the different functions.

Also, in thinking of an appropriate staff size, you should consider using independent contractors increasingly and where necessary to cut huge staffing costs mentioned earlier.Outsourcing will also offer you other benefits such as access to economies of scale, large pool of talents and more.

Create an Employee Handbook

The handbook will detail the entire rules, policies and expectations for your employees. The handbooks should also spell out what your business or company has in stock for the employees; typical examples are employees’ rights and legal obligations for both the employer and the employees.

Other items that should be contained in a well-crafted employee handbook include;

  • Payroll and compensation schedules
  • Standards of conduct
  • Policies regarding anti-discrimination
  • Security and safety
  • Work schedule
  • Media relations
  • Use of technology

Finally, good employee management techniques include keeping up an open two-way communication.

Daven Michaels is a New York Times Best Selling Author and CEO of premiere global outsourcing company123Employee. The company employs hundreds of young bright individuals on three continents. His International event, Beyond Marketing Live! inspires entrepreneurs build & grow their business with revolutionary new theories and systems allowing them to design the business and personal lifestyle of their dreams.

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