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The connection between a people-centered business and increased profits

manstandingonmoney32149463.jpgIn today’s struggling economy, it is not a surprise that business owners are even more concerned about their bottom lines. In some cases, it becomes necessary for those business owners to make cuts. Sometimes these cuts are in the number of employees, other times it is a program like an employer contributed IRA that gets the axe. In the worst case scenario, the entire business goes under. People lose jobs, their investments and all the time and effort that go into being in business. It is no wonder that so many people are worried about finances. For some, not knowing whether or not their job will still be there for them tomorrow is a daily concern. It then becomes the challenge of the business owner to create a more positive working environment. An environment where employees are encouraged to thrive instead of spending their time unnecessarily worrying about the “what ifs.”

Placing the emphasis on the people that run your business will undoubtedly translate into a more pleasant work culture where employees are encouraged to innovate and work because they enjoy what they are doing, not because they fear not being good enough to stay employed. Fortunately, working in a pleasant environment is only one of many positive consequences of having a people centered business philosophy. When you invest in the well being of your employees there are direct correlations to increased profits as well. After all, employees who are burdened with constant worry cannot adequately satisfy the needs of their customers, especially when those needs are related to service issues. Someone burdened with worry has a much more difficult time focusing on serving the needs of their customers. While during recessionary times doing something like giving your employees raises may not be the most fiscally sound thing to do, experts agree that you will get that investment back in the form of improved employee morale, productivity and loyalty.

There are many characteristics that set businesses that are people centered apart from those that are not. One of the most important characteristic is communication. In times of distress managers can provide employees with a great deal of comfort by leaving the lines of communication opened. When managers are opened and honest with their employees regarding the financial health of the business, a relationship of trust is developed and that trust can relieve a lot of the anxiety associated with not knowing what may happen with job security. If your business has fallen on hard times, communicating that managers and business owners are committed to doing everything possible for employees can make a bad situation a lot more tolerable. Wise company owners know that reducing unnecessary expenses is something that should be happening at all times, not just when the economic situation mandates it. Employees who are aware of this company environment have more confidence in the business’s ability to act financially responsible. This knowledge can also ease a lot of apprehension.

Another characteristic that sets people centered businesses apart is that even in hard times employee training is not sacrificed. Smart businesses take the opportunity of using down time to strengthen their employees and employees benefit from having a greater skill set that they can use to make their own jobs more enjoyable and ultimately enhance the overall abilities of the company. Additionally, having regular training exercises, keeps employees engaged in what they are doing. It presents opportunities for those employees to do their jobs better by learning about solutions that they may not have considered before. Having better educated employees has obvious positive implications to the business and can certainly lead to increased profits.

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