ReportWire

Tag: Managing Employees

  • Mr. Wonderful on Quiet Firing and His Passions for Watches | Entrepreneur

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    Kevin O’Leary, also known as Mr. Wonderful, is one of the original Shark Tank sharks who, since 2009, has made the dreams of some entrepreneurs come true and sent others home in tears. The 17th season premieres in about two weeks, and if my conversation with him for our show, How Success Happens is any indication, time has not mellowed this man.

    He calls b.s. when he sees it, but he isn’t a hater. As fast as O’Leary is to declare “I’m out!” he also doesn’t hesitate to throw his full energy behind the things he loves. If you follow Mr. Wonderful on social, you know he loves watches. WORSHIPS watches. We talked about where his passion for collecting rare timepieces came from and how that obsession led to his latest venture, WonderCare, a partnership with the 1916 company.

    We also talked about the one investment his wife told him he was “out of his mind” for making (a record-setting winning $12.9 million auction bid on a basketball card,) his thoughts on management tactics, how he keeps his energy up, and the worst mistake he sees people make over and over again in entrepreneurship.

    You can watch our entire conversation above or listen here, and check out below for some truly wonderful highlights.

    Subscribe to How Success Happens to get a dose of inspiration twice a week! Apple | Spotify | YouTube

    Give the Crap a Rest

    The number one thing hurting most entrepreneurs’ ability to stay focused and energized? “Shit food,” says O’Leary. “You don’t know how bad that crap is for you until you stop eating it, and then you feel incredible.” He tells anyone he meets to try the Yuka app, which scans barcodes of packaged foods and tells you if you really want it in your body or not. He also stresses exercising your mind by doing things out of your comfort zone. “The producers of the upcoming film Marty Supreme called me and said, ‘Look, we’ve got a part in a movie for you and we’re looking for a real asshole and you’re it.’” O’Leary has never done scripted entertainment before and jumped at the challenge.

    Takeaway: If you want to stop feeling like garbage, stop eating garbage.

    Great Customer Service = Great Profits

    Responding to a listener question about maintaining margins, O’Leary offers: “Customers covet one thing more than anything, service and support. …If the minute they call you, you fix it that same day… they’re not going to quibble about the bill.” He compares this to Apple’s ecosystem: “I worked for Steve Jobs way back in the early ’90s. Not a nice guy, but he taught me so much. He said, ‘I don’t need to do market research. They don’t know what they want till I tell them what they want.’ I said, ‘Steve, you sound like such an asshole.’ But he was right. He said they want a great product with fantastic service.”

    Takeaway: Superior service commands demand—invest in happy customers, not endless discounts.

    Success Demands Resilience, Not Certainty

    Mr. Wonderful warns founders against falling in love with their own projections: “The road to success in entrepreneurship is a journey, it’s not a destination… Stuff you never saw coming at you, boom, it hits you. You need to be flexible.” He values founders who own their failures: “When you fail, it’s your fault. You screwed up. Own it and learn from it and don’t do it again. Then you get me to invest in you.”

    Takeaway: Build flexibility into your business and see failures as critical learning opportunities.

    Christopher Willard | Getty Images

    Kevin O’Leary, also known as Mr. Wonderful, is one of the original Shark Tank sharks who, since 2009, has made the dreams of some entrepreneurs come true and sent others home in tears. The 17th season premieres in about two weeks, and if my conversation with him for our show, How Success Happens is any indication, time has not mellowed this man.

    He calls b.s. when he sees it, but he isn’t a hater. As fast as O’Leary is to declare “I’m out!” he also doesn’t hesitate to throw his full energy behind the things he loves. If you follow Mr. Wonderful on social, you know he loves watches. WORSHIPS watches. We talked about where his passion for collecting rare timepieces came from and how that obsession led to his latest venture, WonderCare, a partnership with the 1916 company.

    We also talked about the one investment his wife told him he was “out of his mind” for making (a record-setting winning $12.9 million auction bid on a basketball card,) his thoughts on management tactics, how he keeps his energy up, and the worst mistake he sees people make over and over again in entrepreneurship.

    The rest of this article is locked.

    Join Entrepreneur+ today for access.

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    Dan Bova

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  • Here’s the Real Reason Your Employees Are Checked Out — And the Missing Link That Could Fix It | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Only 21% of employees are engaged at work, according to a global Gallup study. That means most people are physically present but emotionally checked out, simply going through the motions.

    It’s easy to blame burnout or post-pandemic fatigue. But a big part of the problem lies in how organizations communicate — how they welcome new hires, train employees, run meetings and celebrate success (or fail to).

    Think about it:

    • We create lengthy culture decks without explaining why those values matter.
    • We overwhelm new hires with info dumps labeled as “training.”
    • We run meetings on autopilot.
    • We throw around buzzwords like “empowerment” and “alignment” without making people feel truly seen or connected.

    And then we wonder why engagement is so low.

    The truth? Engagement starts with connection — and connection starts with better communication.

    That’s where storytelling comes in.

    Storytelling isn’t just for marketing or TED Talks. It’s one of the most powerful ways to build trust, share values and spark genuine human connection. If you’re not weaving a story throughout the employee journey, you’re missing one of your strongest levers for engagement.

    Related: Quiet Quitting Is Dividing the Workforce. Here’s How to Bring Everyone Back Together.

    Where storytelling makes a difference

    1. Recruiting: Share the story, not just the specs
    Recruiting shouldn’t feel like filling out a resume checklist. Instead of leading with pay and perks, lead with why your company exists. What problem are you solving? What inspired you to start? When candidates hear authentic stories — especially from founders or early team members — they don’t just see a job. They see a mission they want to join.

    2. Onboarding: Make it stick through a story
    Most onboarding feels like drinking from a firehose — policies, procedures, manuals — that quickly get forgotten. But stories are up to 22 times more memorable than facts alone, according to research. Wrap your onboarding content in stories: how your product changed a customer’s life, challenges that shaped your culture, lessons learned along the way. Think of onboarding as the opening chapter in an employee’s personal work story — make it compelling so they want to keep reading.

    3. Engagement: Keep the story going
    New hires start excited, but that enthusiasm often fades when storytelling stops after onboarding. Engagement isn’t a one-time event; it’s a rhythm. Make storytelling part of your team culture. In meetings, invite people to share wins, challenges, or moments they felt connected to their work. Sharing stories builds empathy, energy, and belonging — even over Zoom.

    4. Recognition: Celebrate with heart
    “Great job” is nice, but “Great job, and here’s why it mattered” is powerful. Recognition tied to stories shows the whole team what behaviors and values are truly important to the company. It shows what “great” looks like, making appreciation tangible and meaningful. For example: “James stayed late to fix a customer issue, followed up the next day and turned frustration into loyalty. That’s living our value of going the extra mile.”

    Related: Are You Recognizing Your Employees? If Not, They’re Twice as Likely to Quit

    Engagement is built one story at a time

    Humans are wired for story. It’s how we understand the world, remember lessons and connect with each other.

    If only 21% of employees are engaged, maybe it’s time to stop relying solely on policies, programs and PowerPoints — and start speaking to the human side of people.

    Storytelling isn’t fluff or extra. It’s a strategic communication tool that transforms how employees relate to their work, their teammates and your mission.

    So whether you’re hiring, training, managing or recognizing — start with a story.

    Your people will thank you for it.

    Only 21% of employees are engaged at work, according to a global Gallup study. That means most people are physically present but emotionally checked out, simply going through the motions.

    It’s easy to blame burnout or post-pandemic fatigue. But a big part of the problem lies in how organizations communicate — how they welcome new hires, train employees, run meetings and celebrate success (or fail to).

    Think about it:

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    LaQuita Cleare

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  • The FTC is Shaking Up Employment Law — Here’s How Entrepreneurs Can Adapt | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    The Federal Trade Commission (FTC) has triggered a seismic shift in U.S. labor policy, issuing a final rule that effectively bans new non-compete agreements. Long used to restrict worker mobility, these contracts are now in limbo after immediate legal challenges halted the rule.

    This guide breaks down what you need to know to protect your business and turn disruption into advantage.

    A deep dive into the FTC’s final rule

    The FTC’s final rule declares that “non-compete clauses represent an unfair method of competition and therefore violate the FTC Act.” This sweeping protection extends beyond employees to interns, contractors, volunteers and sole proprietors, aiming to boost worker mobility and innovation. States are following suit — New York, for example, has proposed banning non-competes for lower-wage workers.

    The key exception: Selling your business

    The rule carves out an exception for founders and business owners: non-competes are still allowed in selling a business, ownership interest or substantial assets. This lets entrepreneurs include non-competes in exit deals, a common condition for preserving company value.

    What about existing non-competes?

    The FTC’s rule is retroactive: most existing non-compete agreements will become unenforceable. An exception applies to senior executives — policy-making employees earning over $151,164 annually — whose current agreements remain valid. However, no new non-competes may be created or enforced, ensuring future workers cannot be restricted.

    Related: What to Know About These Tricky Employment Agreements

    The court challenge halting the rule

    Business groups, joined by the U.S. Chamber of Commerce, sued to block the FTC’s non-compete ban. In July 2024, a Texas federal court issued a nationwide injunction, finding the FTC likely lacked authority. The ban is on hold, leaving businesses under state laws like the Texas Covenants Not to Compete Act.

    The FTC’s shifting stance adds uncertainty. With new leadership, the agency has asked for 60 more days to decide whether to defend the non-compete ban, signaling it could be withdrawn or altered. For entrepreneurs, the takeaway is clear: even if the federal rule stalls, cultural and state-level momentum against non-competes is growing — making it wise to prepare for fewer talent restrictions.

    Shifting from restriction to proactive protection

    This period of legal uncertainty offers entrepreneurs a chance to modernize HR and compliance strategies. Proactive business owners can strengthen defenses now rather than wait for final court rulings.

    This is precisely why proactive businesses are shifting their focus. It’s no longer just about reacting to potential legal challenges; it’s about building a framework that makes your company an employer of choice, insulating you from disputes in the first place.

    Failing to adapt is costly: defending and settling an employment claim averages $75,000, while jury awards can reach $217,000 — making proactive compliance a smart business investment.

    Related: 5 Situations That Require a Non-Disclosure Agreement

    Your new legal toolkit

    With non-competes in doubt, entrepreneurs must turn to narrower, more enforceable tools that protect business interests without blocking former employees from making a living.

    • Non-Disclosure Agreements (NDAs): Essential for protecting proprietary information; must clearly define trade secrets without being overly broad.
    • Non-Solicitation Agreements: Help safeguard clients and staff by preventing ex-employees from poaching for a set period; some jurisdictions allow limited clauses.
    • Trade Secret Policies: Written policies should define trade secrets and establish strict handling procedures, strengthening legal protection.
    • Invention Assignment Agreements: Critical in tech, creative and R&D fields to ensure employee-created IP belongs to the company.

    When to seek expert guidance

    Navigating state laws, federal rulings and the uncertain FTC non-compete rule is complex. With high-profile challenges and specialized cases emerging, expert counsel is vital to ensure agreements are enforceable and safeguard your business against litigation.

    The decline of non-competes is a major opportunity for entrepreneurs. Without restrictive agreements, startups and small businesses can finally recruit top talent, once locked into big corporations, leveling the playing field and fueling a new wave of innovation.

    Related: This AI-Driven Scam Is Draining Retirement Funds—And No One Is Safe, According to the FBI

    Winning the war for talent with culture, not contracts

    Business owners must shift from restriction to retention. The best defense is a workplace where top people never want to leave — built on culture, loyalty, engagement and shared mission. Investing in your team is now your strongest competitive edge.

    • Focus on culture: Create a positive, transparent and rewarding work environment where people feel valued and psychologically safe.
    • Invest in growth: Offer clear career paths, mentorship programs and professional development opportunities that show employees you are invested in their future.
    • Competitive compensation: Ensure salaries, benefits and equity packages are competitive for your industry and geographic location.
    • Recognize and reward: Implement formal and informal systems to acknowledge hard work, celebrate wins and reward your team members’ valuable contributions.

    Navigating the new frontier of employee mobility

    Regardless of its final legal fate, the FTC’s non-compete ban has fundamentally altered the conversation around employee rights and corporate strategy. For savvy entrepreneurs, this isn’t a time for panic but for preparation.

    You can position your business by strengthening your NDAs and other protective agreements, doubling down on a positive company culture that retains and attracts talent and viewing greater employee mobility as an opportunity rather than a risk. The era of locking in employees with restrictive contracts is ending; the era of winning their loyalty has begun.

    The Federal Trade Commission (FTC) has triggered a seismic shift in U.S. labor policy, issuing a final rule that effectively bans new non-compete agreements. Long used to restrict worker mobility, these contracts are now in limbo after immediate legal challenges halted the rule.

    This guide breaks down what you need to know to protect your business and turn disruption into advantage.

    A deep dive into the FTC’s final rule

    The rest of this article is locked.

    Join Entrepreneur+ today for access.

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    Boris Dzhingarov

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  • After Studying 233 Millionaires, I Found 6 Habits That Fast-Track Wealth | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Entrepreneurship is the quickest path to wealth, offering the potential to bypass the slow grind of traditional saving and investing. I am a CPA, Certified Financial Planner and author of Rich Habits: The Routines Millionaires Use Daily That Will Help You Build Wealth.

    Over a five-year period, I studied the daily habits of 233 wealthy individuals, of which 177 were self-made millionaires, and 128 people living in poverty. My Rich Habits research, along with insights from other independent third-party experts/studies corroborating my research, reveals that entrepreneurship accelerates wealth-building when paired with specific habits.

    This article explores why entrepreneurship is the fast track to wealth and how my findings can guide aspiring entrepreneurs to success.

    Related: 10 Habits That Separate Rich and Successful Founders From Wannabe Entrepreneurs

    The entrepreneurial advantage

    My research shows that self-made millionaires who pursued entrepreneurship built wealth faster than those who relied on saving and investing as employees. In my five-year Rich Habits Study, “Saver-Investors” took an average of 32 years to accumulate $3.3 million, while entrepreneurs reached $7.4 million in just 12 years. This gap highlights entrepreneurship’s potential to compress the wealth-building timeline.

    Entrepreneurs can create multiple income streams, scale businesses and directly influence financial outcomes, unlike employees tied to fixed salaries. However, I must emphasize that success depends on adopting certain ‘Rich Habits’ — daily routines that set successful entrepreneurs apart.

    Below are the key habits from my research, tailored for aspiring entrepreneurs.

    1. Set clear, actionable goals

    In my Rich Habits study, 80% of self-made millionaires set specific, long-term goals and focused on them daily. For entrepreneurs, this means defining a clear vision — whether launching a product or hitting revenue targets — and breaking it into daily tasks.

    I found that successful entrepreneurs have a do it now mindset/daily mantra that encourages immediate action to maintain momentum.

    Actionable Tip: Write one major business goal for the next year and break it into monthly and daily tasks. Review progress daily to stay on track.

    Related: The Path to Becoming a Wealthy Entrepreneur Starts With Identifying Scarcity and Saying ‘No’ More Often

    2. Commit to continuous learning

    Successful entrepreneurs are lifelong learners. My Rich Habits study shows that 88% of millionaires dedicate at least 30 minutes daily to self-education, reading books on personal development or industry trends. In contrast, 77% of poor individuals in my study spent over an hour a day either watching TV, streaming, reading books of fiction, social media engagement and other online time-wasters. Knowledge keeps entrepreneurs competitive.

    Actionable Tip: Replace 30 minutes of social media with reading a business book or listening to an industry podcast. or reading industry journals

    3. Live frugally to re-invest

    Financial discipline is critical. Saver-Investor millionaires build their wealth by being frugal with their spending in order to save 20% or more of their net income, which they prudently invest themselves or through financial advisors. Entrepreneurs are different.

    While they do share the frugality habit with Saver-Investors, they don’t save like Saver-Investors. Instead, they live frugally in order to maximize the amount of profits, which they then reinvest back into their businesses — marketing, product development or hiring. In order to be able to live frugally, budget no more than 25% of net income on housing, 15% on food, 10% on entertainment and 5% on vacations.

    Actionable Tip: Automate investing 20% of your company’s profits into a business savings account to help you fund growth or provide a buffer.

    Related: Frugality Among the Wealthy: A Closer Look

    4. Build power relationships

    Networking is a cornerstone of success. In my study, I found that 93% of millionaires with mentors credited them, almost entirely, for their success in life. Mentors offer guidance, share processes that work, teach habits that automate success, teach what works and what does not work and open doors to influencers who are part of their inner circle.

    Wealthy entrepreneurs also invest significant time in cultivating “Power Relationships” with optimistic, success-minded peers and mentor others to strengthen their networks.

    Actionable Tip: Seek a mentor in your industry and ask for specific advice. Mentor someone else to build your network and refine your strategies.

    5. Take calculated risks

    Entrepreneurship involves risk, but successful entrepreneurs do their homework and make informed decisions prior to taking any risk. In my study, 27% of millionaires failed at least once in business but learned from their setbacks. They avoid reckless, speculative moves, relying on research, mentorship and market analysis to seize opportunities others miss.

    Actionable Tip: Before launching a venture, conduct market research and test ideas with a small-scale pilot program in order to minimize risk.

    6. Prioritize positivity and health

    A positive mindset and good physical health sustain entrepreneurial stamina and energy levels. My Rich Habits millionaires practiced “rich thinking,” controlling negative emotions and staying optimistic. Additionally, 76% exercised regularly to maintain energy and focus, enhancing decision-making and resilience.

    Actionable Tip: Spend 30 minutes daily on exercise like walking, yoga, weights or resistance exercises and practice gratitude to maintain positivity.

    Related: How to Build a Healthy, Wealthy and Wise Life

    The power of passion and persistence

    I learned from my Rich Habits research that passion fuels entrepreneurial success. Passion makes work fun. Passion gives you the energy, persistence and focus needed to overcome failures, mistakes and rejection.

    Passionate entrepreneurs endure long hours and challenges, while disciplined habits create a compounding effect. However, even the entrepreneurial fast track requires time — 12 years on average to reach multimillion-dollar wealth.

    Addressing challenges

    Critics of my work argue that systemic factors or demographic biases may influence wealth beyond habits. While barriers exist, my blind study focused on controllable behaviors. Entrepreneurs can’t eliminate external challenges, but can control daily actions, relationships and decisions to navigate them effectively.

    Entrepreneurship offers the fastest path to wealth for those who adopt the Rich Habits my research highlights. By setting goals, prioritizing learning, living frugally, building networks, taking calculated risks and maintaining positivity and health, aspiring entrepreneurs can emulate self-made millionaires. Wealth-building is a two-step process — creating and sustaining it — and entrepreneurship, with disciplined habits, is the engine that drives both steps faster than any other path.

    Start small, stay consistent and entrepreneurship will eventually lead you to financial success.

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    Tom Corley

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  • How to Build a Business That Can Run Without You | Entrepreneur

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    If your calendar feels like a constant game of catch-up, you’re not alone. Most founders and execs spend their days fielding questions, solving problems, and responding to whatever’s loudest. It feels productive. It looks like leadership. But it’s a trap.

    Reactive mode is where strategic thinking goes to die. In my time as the founder of ButterflyMX, I’ve learned that the longer you operate like this, the more you become a bottleneck, not a builder. Your team stays dependent, your vision stalls, and worst of all, your time stops being your own. This post is about taking it back and becoming the kind of leader your company actually needs.

    Related: Fixing Every Problem Isn’t Your Job — Here’s How to Empower Your Team to Handle Issues Without Your Constant Involvement

    The trap of reactive leadership

    At some point, most leaders realize they’re stuck in a loop: They wake up, dive into a flood of Slack pings and calendar invites and end the day wondering what they actually accomplished. Sound familiar?

    This isn’t just a startup thing; it’s a leadership pattern. Early on, being in the weeds makes sense. You’re hands-on, scrappy and involved in everything. But what starts as necessary involvement often calcifies into chronic reactivity.

    And the consequences pile up:

    • You become the decision-making bottleneck.

    • Your team learns to escalate instead of owning outcomes.

    • And your most valuable asset, your time, gets spent on solving symptoms, not systems.

    There’s also an emotional cost. Constant firefighting feels urgent, even heroic. But in reality, it pulls you away from the one thing only you can do: chart the course ahead.

    Time is a leadership asset, not just a resource

    There’s a quiet truth every seasoned leader eventually learns: Your calendar is a mirror of your priorities and your power.

    When you treat time like a disposable resource, you spend it on whatever shouts the loudest. But when you treat it like an asset, you start investing it in what actually moves the business forward. That’s the difference between managing chaos and building momentum.

    Strategic leadership doesn’t happen in 15-minute gaps between meetings. It requires protected time to think, plan and decide, not in theory, but in practice. That means blocking space for big decisions, pattern recognition and high-leverage conversations, just like you’d block time for a board meeting.

    I’ve seen it firsthand: The leaders who scale aren’t the ones who do more. They’re the ones who do less, better. They get ruthless about what only they can do and design everything else around that filter.

    The job isn’t to be everywhere. It’s to make sure the right things happen, even when you’re not in the room. And that starts by reclaiming your time.

    Related: How to Reclaim Your Time and Start Focusing on Your Business’s Big Picture

    How to reclaim your calendar and reset your role

    This isn’t about downloading a new productivity app. It’s about shifting how you see your time and how you protect it.

    Here’s how to start:

    1. Audit your time like you audit your budget:

    For one week, track where your hours go. You’ll be surprised how much time gets eaten by low-leverage work — things someone else could (or should) handle. Look for patterns: What drains your energy? What creates the most value? This isn’t busywork. It’s clarity.

    2. Build “focus blocks” like your future depends on them, because it does:

    Pick 2-3 hours a day (or even just a few slots a week) that are meeting-free and distraction-free. Use them to think strategically, review your org design, write out your vision or tackle the decisions only you can make. Treat these blocks like sacred ground.

    3. Delegate outcomes, not tasks:

    Too often, leaders delegate execution but hold onto ownership. Flip it. Give your team the “what” and the “why” and let them own the “how.” You’ll build trust, create more capacity and stop being the final answer to every question.

    4. Install leverage, not just help:

    If you’re drowning in scheduling, follow-ups or inbox triage, hire an executive assistant or Chief of Staff. But don’t stop at admin support. Empower them to shield your time, prioritize inputs and run point on internal processes so that you can stay focused on the big picture.

    But what about the fires?

    Let’s be real, urgent problems aren’t going away. Markets shift. People quit. Customers escalate. Even the best-run teams hit turbulence.

    The goal isn’t to eliminate all fires. The goal is to stop being the only one holding the hose. Reactivity isn’t always bad; it’s just dangerous when it becomes your default. As a leader, you’ll still need to step in sometimes. But if every problem reaches your desk, that’s a system failure, not a leadership virtue.

    This is where systems and culture matter. Build escalation paths. Set clear decision rights. Empower teams to solve at the level where problems occur. That’s how you create a company that doesn’t crumble every time you take a day off. Reclaiming your time means building the structure to handle itself without you.

    Related: Dear Business Owners: It’s Time to Work on Your Business, Not in It

    You can’t build the future while stuck reacting to the present.

    The shift from reactive to strategic leadership isn’t just about time management; it’s about identity. It’s choosing to lead with intention instead of interruption. To focus on systems, not symptoms. And to spend your time where it creates the most value, not the most noise.

    So, here’s the challenge: Look at your calendar this week. Is it a reflection of the leader you are, or the leader you want to be?

    Take back your time. Your team, and your vision, are counting on it.

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    Cyrus Claffey

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  • People Really Only Care About These 3 Things at Work — Do You Offer Them? | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    When people leave their jobs, they often give polite reasons: “looking for growth,” “better alignment,” “more flexibility.” But after years of hiring, managing and losing people — some to better opportunities, some to burnout — I’ve come to believe that most job satisfaction boils down to just three things.

    Everything else is noise. Perks, policies, titles or offsites can help, but they’re not foundational. Strip it all away, and here’s what people really care about.

    1. Great compensation

    Fair pay is the baseline. Competitive pay is the magnet. Exceptional pay is the reason someone stops taking recruiter calls.

    Compensation isn’t just about money. It’s about respect. People associate their salary with how much they’re valued, trusted and taken seriously. If your top performers feel underpaid, you’re not only risking turnover, but also signaling that excellence isn’t worth rewarding.

    Keep in mind that “great” doesn’t mean highest on the market. It means high enough to remove money from the list of concerns. You want your people to focus on doing meaningful work and not negotiating a raise every year or calculating how many extra hours it takes to afford a vacation.

    Aside from base salary, this includes equity, performance bonuses and clear, transparent criteria for increases. When people understand how pay decisions are made and believe the system is fair, they stay longer and give more.

    If you’re a manager, your job is to advocate for the budget your people deserve. Don’t wait for someone to bring it up in a performance review. Be proactive, because your competitors already are.

    Related: This Is What Job Seekers Want the Most

    2. Smart colleagues to learn from

    No one wants to be the smartest person in the room forever. People want to grow, and that happens fastest when they’re surrounded by others they respect.

    High performers seek challenge. They’re looking for both job stability and stimulation. A team full of sharp, thoughtful, curious people is more motivating than any job title or KPI. If your team is full of generalists who never push boundaries, your best people will quietly leave for places where they feel outmatched in the best way.

    However, this doesn’t mean hiring for raw IQ. It merely means hiring people who ask great questions, give meaningful feedback and stay open to being wrong. It means creating an environment where learning is constant, through debate, collaboration, code reviews, design critiques or customer debriefs.

    A strong culture of learning does more than retain top talent. It builds institutional resilience. When people feel like they’re leveling up just by showing up, you don’t need to rely on carrots and sticks. The work can become its own reward.

    3. Momentum or success with the product

    You can pay well. You can build a dream team. But if the product isn’t going anywhere, people lose steam.

    Everyone wants to feel like they’re part of something that’s working — or about to work. In fact, I tell my team at OysterLink every day that we’re going to be something bigger than what we’ve accomplished so far. It’s all about traction, clarity and the belief that progress is real.

    People don’t need perfect outcomes. They need forward motion. When the product gains users, solves real problems or unlocks new opportunities, it energizes the team. It reinforces the sense that time spent here is time well invested.

    Lack of momentum, on the other hand, creates drag. Teams lose urgency. High performers feel stuck. Meetings start to feel like exercises in optimism rather than planning. You don’t have to be winning in the market every quarter. But you do need to show a path to winning and make sure every person on the team knows how their work contributes to that journey.

    As a leader, this means communicating product progress often and honestly. Celebrate real wins. Be transparent about setbacks. And connect the dots between individual work and company goals. People will run through walls when they believe they’re running toward something meaningful.

    But what about everything else?

    You might be wondering: What about flexibility? Culture? Work-life balance? They matter — but they tend to act as modifiers, not drivers.

    A strong culture makes the three core factors more sustainable. Flexibility helps retain talent, especially if the work and people are already strong. But no one stays at a job just because there’s a remote policy or free snacks.

    If you underpay, even the best culture won’t save you. If your team isn’t learning from each other, remote-first won’t fix the stagnation. If your product is going nowhere, even generous PTO policies will feel like a consolation prize.

    People don’t leave because of snacks or slogans — they leave when they don’t feel valued, challenged or part of something that’s moving forward. Get the core three right, and the rest is optimization. Get them wrong, and everything else is damage control.

    When people leave their jobs, they often give polite reasons: “looking for growth,” “better alignment,” “more flexibility.” But after years of hiring, managing and losing people — some to better opportunities, some to burnout — I’ve come to believe that most job satisfaction boils down to just three things.

    Everything else is noise. Perks, policies, titles or offsites can help, but they’re not foundational. Strip it all away, and here’s what people really care about.

    1. Great compensation

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    Milos Eric

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  • How to Empower Your Team to Solve Problems Without You | Entrepreneur

    How to Empower Your Team to Solve Problems Without You | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    It is quite common among entrepreneurs and leaders to become the ultimate “fix-it person,” always on the lookout for a solution. After all, we’ve built businesses by making decisions, fixing issues and clearing hurdles. However, as you continue growing your business, attempting to solve every issue you encounter is counterproductive, as it acts as a constraint on development and hinders team growth.

    It is important for you not to try to solve all the issues you come across. You need to build an environment where issues are addressed and resolved without your involvement so that you can concentrate on the strategic level.

    This is how you can work on your team, construct the process and stop fixing everything yourself.

    Related: 7 Ways to Help Your Employees Become Better Problem-Solvers

    1. Crisis playbooks: Create detailed guides for your team

    Perhaps the best way to stop being the “fixer” is to equip the team with tools and enable them to deal with the recurring challenges themselves. This is where creating crisis playbooks comes into play. A crisis playbook is a step-by-step plan that your team follows when faced with certain types of problems that occur repeatedly. But it is not just a list of directions; it is a well-thought-out strategy that enables them to manage emergencies on their own.

    For example, if there are many complaints from customers, you do not have to interject each time. Instead, create a step-by-step playbook for the team to follow — how to respond, to whom one should report the problem and what to do after the problem is solved. It reduces interference in your business operations, yet it also maintains a predictable and organized pace.

    Actionable insight: Select the three most frequent issues in your business and focus on them. Develop a precise roadmap for each of them, explaining who is accountable for what and how a problem can be resolved. Teach your subordinates to use these playbooks instead of seeking your assistance in the process.

    2. Empower your team: Give them the authority to solve problems

    If your team is always waiting for your approval or for your decision, then it is high time to change the way you lead your team. It is crucial for leaders to understand that implementing the concept of empowering your team is not as simple as throwing the reigns and saying, “Go for it.” It is about providing them with the freedom to make certain decisions without necessarily having to consult their superiors as long as they fall within a certain laid-down set of guidelines.

    When your team is endowed with authority and trust, they are more likely to exercise ownership of the roles given to them. Self-empowerment minimizes the level of reliance on you, enhances the rate of decision-making and promotes accountability. It also helps you to stop worrying about unimportant details and start focusing on the more important strategic tasks.

    Actionable insight: You must set limits on what your team is allowed to do without consulting you. Let them manage tasks on their own within such constraints and only report issues that need your intervention. In the long run, you will realize that fewer matters get to your table, and efficiency will increase.

    3. Early warnings: Implement systems to flag issues before they become crises

    Instead of waiting for issues to turn into major concerns, develop early signals that notify your team of potential issues before they become huge. These systems can be simple, for instance, using an automated software program to monitor for unusual activity or using regular team meetings to find out small issues before they become big problems.

    If problems are reported from the onset, they can be solved before they become a big problem in the organization. This minimizes tension and confusion and enables more rational approaches to problems.

    Actionable insight: Ensure that you use technologies that will enable continuous evaluation of your business processes. Whether it is the customer satisfaction index, the stock status or the performance of the employees, it is always advantageous to detect issues early before they snowball into something bigger. Schedule weekly or bi-weekly meetings with your team to discuss possible problems before they arise.

    Related: 4 Secrets to Building a Team That Can Handle Anything

    4. No interruptions for minor issues: Let your team handle the small tasks

    Not every problem is worth your time and energy. In fact, most aren’t. However, if you are always drawn into small issues, you will be bogged down by them and won’t be able to look at the big picture. For efficiency and better team relations, create an environment where your team understands that they don’t have to report petty problems to you. It could be small issues perceived by customers, small issues affecting day-to-day operations or even issues that employees have against each other or the company. It is okay to let your team deal with these issues on their own, in accordance with the playbooks and systems you have put in place.

    Actionable insight: Define what should be considered minor and what is critical in terms of the business. For small items, let the team decide what is best. If they know you trust them to solve these problems, they will, and you can spend more of your time on strategic planning and development.

    5. Define priority levels: What’s truly urgent?

    When everything is a fire, nothing becomes a priority to deserve the attention of a fire. There will always be competing priorities in any organization, and therefore, one of the toughest tasks is to know what is critical, what is important and what is less critical.

    If your team is still foggy on this, they will come to you with all sorts of things, just in case. To overcome this, you need to establish priority levels within your team. Set standards for what can be considered a high-priority area as opposed to a low-priority one. Emergent issues should be taken into your attention, whereas the rest of the problems must be solved based on protocols and procedures.

    Actionable insight: Discuss with your team members and try to divide various kinds of problems by their importance. Emergent issues could be any matter that is critical to customers or the safety or financial health of the business. The rest should be left to the team or addressed at your next meeting. In this manner, the team is aware of what really requires your intervention and what can be managed by them.

    6. Focus on long-term solutions, not quick fixes

    In many cases, instead of solving the root of the problem, we are quick to address the issues at hand and provide a quick solution. This is where many businesses end up being in a constant state of firefighting. Instead, motivate your team to develop a long-term perspective toward the problem.

    Instead of quickly patching up a problem, ask them to look deeper: What led to this problem, and how can it be avoided in the future? Long-term solutions may take longer at the beginning, but they help to save countless hours and headaches in the future. When your team is working on sustainable solutions, your business operations will be better, and you won’t find yourself having the same issues repeatedly.

    Actionable insight: Remind your team members to always look beyond the surface of their tasks. Tell them to search for the root causes of issues and identify methods that can be employed to solve such issues and ensure that they do not happen again. This way of thinking will help eliminate many of the trivial problems that arise and give you more time to focus on the important questions.

    Related: 3 Leadership Secrets That Lead to Team Empowerment

    A leader’s role is not to be the one who solves all the problems that arise in the organization. It is to create a team and a system in which difficulties do not turn into issues in the first place. Thus, by writing crisis playbooks, giving your team more freedom, introducing early alert systems and working towards the future, you can take your attention off of mere survival and put it on success.

    Finding solutions is crucial, but finding ways to avoid problems is revolutionary. It is better to dedicate more time to leadership and planning and enable your staff to deal with problems proactively on their own. The result? A more efficient and empowered team — and a business that feels like one seamless unit.

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    Chris Kille

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  • How to Build a Workplace Culture Centered on Love, Abundance and Purpose | Entrepreneur

    How to Build a Workplace Culture Centered on Love, Abundance and Purpose | Entrepreneur

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    In recent months, the job market has sent mixed signals, particularly for college graduates. According to the Bureau of Labor Statistics’ latest report, the pace of hiring is down to levels not seen since 2009 in business and professional services. Unemployment rates for recent grads have risen, challenging young professionals to find positions that offer more than just a paycheck. As companies grapple with inflation and economic uncertainty, many leaders are shifting focus to build workplace cultures that foster loyalty and fulfillment beyond financial compensation.

    This shift is especially relevant for companies employing Generation Z, a generation deeply affected by mental health struggles linked to financial stress. How can companies create an environment that thrives beyond monetary incentives?

    Use the framework below to build a workplace culture centered on love, abundance and purpose.

    Related: Why You Must Stay Focused on Your Culture in Times of Economic Uncertainty

    1. Shift from scarcity to abundance mindset

    Most organizations operate under a scarcity mindset, constantly focused on bottom lines and immediate targets. This fear-driven approach can stifle creativity and limit an employee’s sense of belonging. To transition to a culture of abundance, leaders must first acknowledge that fostering genuine care and connection with their team is essential. One practical step is to take a “Clarity Break” — a dedicated time for leaders to reflect on their business and the culture they want to create, away from the daily grind.

    At EOS Worldwide, I emphasize treating employees as individuals with unique talents and contributions, aligning them with the company’s larger vision. This shift to abundance helps boost morale and encourages innovation, allowing employees to thrive beyond the confines of monetary incentives.

    2. Align your team with a shared vision

    A key to fostering commitment in the workplace is ensuring that employees are aligned with the company’s mission and long-term goals. People are far more motivated and engaged when they understand how their daily work contributes to a greater purpose. My business, for example, uses tools like Rocks, the 1-Year Plan, 3-Year Picture and 10-Year Target to ensure all employees have a clear sense of the company’s future and their role in achieving it.

    When employees see how their individual roles directly contribute to the company’s larger vision, they feel a deeper sense of purpose and ownership. Leadership also regularly communicates how their work ties into long-term goals and provides specific examples of how their efforts are moving the needle. This strategy helps increase motivation and fosters a stronger sense of belonging as employees understand they are integral to the organization’s success.

    3. Foster open, honest communication

    A workplace culture based on love requires open and transparent communication. Leading with heart isn’t always easy — it involves navigating tough conversations and addressing uncomfortable issues head-on. By fostering an environment of open dialogue, leaders can build trust and ensure that employees feel seen, heard and valued. It’s about thinking through the lens of the greater good and having genuine care and concern for all involved and impacted.

    Take Microsoft as an example. Under CEO Satya Nadella, the company underwent a significant cultural shift, prioritizing empathy and collaboration. This change in leadership style has made Microsoft a leader in innovation and employee satisfaction, demonstrating that when workers feel they are part of an open, supportive environment, they bring their best ideas to the table.

    Related: Open Conversations Are Often Stifled at Work — Here’s How to Break That Silence and Reach Your True Potential

    4. Encourage work-life balance and time for passions

    Abundance isn’t just about what happens within the workplace; it’s also about enabling employees to live fulfilling lives outside of it. A well-rounded culture must provide fair compensation and allow employees to pursue personal passions. At EOS Worldwide, employees are encouraged to read EOS Life, which offers advice on how to do what they love with people they love while making time for personal growth. Whether traveling, pursuing hobbies or contributing to nonprofits, this philosophy nurtures a more fulfilled and balanced workforce.

    This concept is also embraced by companies like Google, which allows its employees to spend 20% of their time on personal projects. Many of Google’s most successful products, including Gmail, originated from this policy. By encouraging employees to invest in their passions, companies can cultivate a more creative and engaged workforce where people feel valued for more than just their work output.

    5. Celebrate your people, not just their work

    Finally, building a culture of love and abundance means recognizing employees as people first. Celebrating individual milestones, personal achievements, anniversaries, upcoming weddings, births of new babies and non-work contributions can enhance the sense of community within a company. Work-life harmony isn’t about perfect equilibrium every day — it’s about harmonizing the demands of work and life in a way that allows employees to flourish in both. At EOS Worldwide, my team celebrates components of daily life in channels such as “pets-of-EOS,” “children of EOS,” “happy-place,” and “podcast-lovers” with pictures, videos and shares.

    Take a page from Southwest Airlines, which is known for its people-first culture. They don’t just recognize professional accomplishments — they celebrate personal milestones, too. By acknowledging the whole person, not just their work, Southwest creates an environment where employees feel truly valued, which in turn drives loyalty and satisfaction.

    Entrepreneurs can apply this by building recognition into their own companies, from small celebrations of personal wins to regular check-ins on employee well-being. This focus on individuals can lead to higher retention and improved team morale, boosting overall company performance.

    Related: Unlike Raises, You Can Afford to Give Your Team All the Recognition and Praise They Have Earned

    By embracing a culture of love and abundance, leaders can create workplaces that transcend the limitations of financial incentives. This approach aligns employees with the company’s mission and fosters an environment where they feel deeply connected and fulfilled. Through heart-led leadership, transparent communication and a focus on personal passions, companies can ensure that their teams thrive at work and in life.

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    Kelly Knight

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  • How to Create and Maintain a Positive and Respectful Work Environment | Entrepreneur

    How to Create and Maintain a Positive and Respectful Work Environment | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    If you’re like me, you may often question where our civility has gone. We encounter rude behavior on our streets and highways. TV talk shows draw audiences by promising high-stakes conflict. Consumers think nothing of berating a retail worker who is just doing their job.

    While certain people can find rude and uncivil behavior entertaining, uncivil behavior is never entertaining in the workplace. Whether co-workers are being deliberately rude or just plain mean, the behavior destroys productivity. Left unchecked by managers, it also drives turnover.

    Because each individual may view uncivil behavior differently, it’s important to define the boundaries before we can attempt to correct incivility in an organizational setting.

    Related: 7 Ways to Create a Friendly Environment at Work

    Defining uncivil behavior

    Employees from many backgrounds and cultures populate today’s workplaces, and managers may struggle to set guidelines for what constitutes proper behavior. In the simplest terms, if an employee feels slighted or undervalued because of the way a co-worker or manager interacts with them, you have a problem.

    Managers who look at their phone during one-on-one meetings are being rude and are silently telling their employees they don’t matter. Employees who chastise co-workers who think differently than them are engaging in uncivil and potentially threatening behavior.

    The negative impact of uncivil behavior

    I learned firsthand how uncivil behavior can bring productivity to a standstill. I was away at a conference with a new employee where we were engaging with potential prospects and important contacts in the industry.

    Suddenly, my phone began to blow up with activity on our corporate Slack channel for senior leadership. After several minutes, with no letup in activity on the messaging platform, I realized there was an emergency — one that was far different from what I could have imagined.

    Two of our senior leaders, whose offices were no more than 20 feet apart, were arguing via text messages. As the argument grew more heated and showed no signs of being resolved, I had to excuse myself from the conference and my new employee, who was also witnessing everything in real time on Slack.

    What I needed most at that moment was for my two leaders to come to an agreement and return to productive work. I instructed them to walk down the hallway, get together in person and resolve the conflict. They did. And I learned a lesson.

    Having emotionally elevated conversations by email or text is a bad idea. People almost always find it easier to say things in those formats that they wouldn’t say to someone in person. Often, uncivil remarks emerge when the recipient misunderstands, usually due to the lack of vocal tone or facial expression. It is always better to have face-to-face conversations when you can’t agree on something.

    Our rule is this: If you need to write more than a paragraph, have the conversation person-to-person.

    Related: 6 Tips for Helping Employees Work Through Conflicts

    Setting and communicating your boundaries

    After that incident, I established a code of civility at my business. My leaders are expected to set the example for civil behavior. The major tenants of the code include:

    • Everyone deserves dignity and respect regardless of their role in the company, age, appearance, what they did last night or their political allegiances. When you engage in conversation with a co-worker, especially one you’ve disagreed with in the past, be intentional about maintaining civility in your remarks. Your job title is not a license to be condescending; it’s a responsibility not to be.

    • Always assume positive intent. When you encounter a dispute, or you believe an employee may have done something wrong, proceed slowly. Allow them to explain, whether it’s a co-worker or a member of your team. Instead of reacting emotionally and making a tense situation worse, listen closely. You may learn that you’ve read the situation incorrectly.

    • Don’t get furious, get curious. If you feel tense or anxious, your body is signaling you to ask more questions. When you are trying to diffuse an argument, your goal should be to clearly understand the problem through their eyes before you leap to offering a solution.

    • Speak to the person who is causing, or who can solve, the problem. When one team member has an issue with a co-worker, we encourage them to have the courage to speak directly to that person. “Sideways conversations” lead to gossip and misinformation. And we are also mindful not to make mountains out of molehills.

    • You can’t always control what happens, but you can always control how you react to it in every situation. You may not always be able to make the situation better, but you can always avoid making it worse. Loud or abusive language toward another employee cannot be tolerated.

    I expect all my employees to follow our code of civility and to always be trustworthy in all they say and do. This is mission-critical for management.

    Leaders set the standard for workplace culture

    As a CEO, I make it a point to emphasize civility in my workplace, which means I should be modeling the behavior I want to see. It can be challenging to self-monitor. When I suspect (or realize) I’ve failed, I own it and seek feedback.

    It’s not easy to hear candid feedback, especially from people who aren’t privy to all the information you are. So, I’ve had to learn, rather than responding to their comments immediately, to first thank them for having the courage and candor to offer it.

    Employees will not see you as a weak leader if you project a kind and self-aware persona. They’ll respect you for admitting to your shortcomings as they watch you work to improve yourself. The right managerial mindset can make a huge difference.

    Related: Here Are 4 Ways to Develop a Culture of Respect and Trust

    Maintaining civility in the workplace requires leaders to set examples through their words and actions. More importantly, managers should hire individuals who will be a good fit with a civil workplace.

    At my company, an employee who fits well with our culture and our customers is highly valued. But a team member who contributes to civility in our workplace is invaluable.

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    C. Lee Smith

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  • We’re In a ‘Performance Erosion’ Crisis. Here’s How To Break Your Business Free. | Entrepreneur

    We’re In a ‘Performance Erosion’ Crisis. Here’s How To Break Your Business Free. | Entrepreneur

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    I want to talk to you about something important: the price of pho. A few years ago at the Vietnamese noodle joint around the corner from my office, a large bowl cost $12. Now it’s $17.

    How did my bill for the exact same meal jump almost 50%? It’s no mystery. Businesses of all kinds are wrestling with unprecedented inflation. But that’s not their only challenge.

    Even as the cost of doing business keeps climbing, geopolitical tensions are hampering trade and rattling stock markets. Meanwhile, employee engagement is in the dumps, and finding the right talent remains elusive. Then there’s AI, which is disrupting work in ways we’re just starting to grasp.

    The result is a business survivability emergency. It’s no exaggeration to say that companies today are facing an existential threat on multiple fronts. No wonder almost half of CEOs believe that if their business stays on its current path, it won’t be viable in 10 years.

    Here’s why companies find themselves in such a tough spot and how they can turn things around by better understanding the one resource that’s right in front of them — their people.

    Related: AI Will Radically Transform the Workplace — Here’s How HR Teams Can Prepare for It

    Unpacking the “performance erosion crisis”

    Despite all of our technology, people — the basic driver of any business’s success — remain a black box at most companies. Today, we can get real-time insights on customers and prospects through modern sales and CRM tools. But when it comes to the people working alongside us, we’re often flying blind.

    We’ve had people analytics for generations, of course, but they’ve been confined to spreadsheets and limited to HR wonks. And even when information about people is available, it’s typically siloed and inaccessible to the managers who need it most. At the same time, performance isn’t systematically tracked.

    The result is a performance erosion crisis. Productivity, in no uncertain terms, has flatlined. In fact, it’s now at a 75-year low and is the number one challenge, according to executives.

    Meanwhile, half of employees are disengaged, making them more likely to be unproductive or simply walk out the door, and three out of four businesses are having trouble hiring skilled talent. As a result, 1.9 million manufacturing jobs could remain unfilled in the U.S. by 2033.

    And don’t forget the elephant in the room: AI. Employers reckon that almost half of workers’ skills will be disrupted in the next five years. For companies, uncertainty about who to hire leads to inefficiency and churn. If people are expensive, that makes things even worse.

    Just ask blue-chip stalwart Intel, which is laying off 15,000 people — 15% of its workforce. With revenue declining, the tech giant admits that it’s failed to benefit from AI.

    In short, growth expectations are as ambitious as ever. But as productivity has stalled relative to operating costs, businesses everywhere are headed in exactly the opposite direction.

    How companies can come out on top

    To pull through in these uncertain times, businesses must capitalize on their most valuable resource: now, more than ever, they need real-time insights that connect the dots between their people and business results.

    What I’m talking about is categorically different from the people analytics of yesteryear — dense tables reserved for HR analysts. What’s needed are on-demand insights accessible across the company, in real-time. For people data to be useful, it must be intuitive enough for managers to use to drive daily decisions, big and small.

    The good news is that while AI is a catalyst for disruption, it’s also giving businesses a workforce edge when it comes to tackling the performance erosion crisis.

    Think of the questions that every company has about how people impact business outcomes. Who are our top performers? Who’s most at risk of quitting? Where is productivity dipping?

    Related: AI Is Changing the Way We Look at Job Skills — Here’s What You Need to Do to Prepare.

    New platforms let managers ask those questions in plain language — and instantly deliver a clear, actionable response. The best of these draw on a vast database of millions of anonymized employee records across industries to deliver tailored results and accurate benchmarks.

    Pay is yet another area where real-time people data can be a game changer. Even though most companies have a detailed compensation policy, the managers who make pay decisions often shoot from the hip, letting bias cloud their judgment. AI-powered smart compensation tools help managers make more informed choices, factoring in not only industry standards but individual employee performance while flagging pay gaps linked to racial, gender and other biases.

    Indeed, new platforms can serve as a one-stop shop for many of the repetitive questions that employees typically lob at HR, whether it’s about salaries, vacation days or benefits. Turning all of that information into a self-serve function liberates HR teams from manual toil, freeing them up to focus on what really matters: ensuring the business has the right people to propel it forward.

    Of course, technology alone is not a panacea. Companies that want to capitalize on real-time people data must also be willing to make a culture shift. This starts with a willingness to share insights on people and performance once hoarded by HR. People represent most companies’ biggest budget line-item and single most important driver of business success. A commitment to understanding how they work best and to sharing that information in ways that are consistent, understandable and safe is a prerequisite to getting the most out of AI-powered tools.

    Confronting the workforce challenge at the root of the performance erosion crisis isn’t rocket science. To get the most out of people in an unpredictable world, you need to understand them and how they impact business outcomes. In my experience, the best way to do that is by tapping the real-time insights that AI can deliver. Like my bowl of pho, running a business won’t get any cheaper, so it’s time to gain an edge by working smarter.

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    Ryan Wong

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  • 4 DEI Lessons from the Paris Olympics That Can Help Entrepreneurs Succeed | Entrepreneur

    4 DEI Lessons from the Paris Olympics That Can Help Entrepreneurs Succeed | Entrepreneur

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    For the very first time, the world witnessed the first all-black podium in women’s gymnastics Olympic history. Brazilian gymnast Rebeca Andrade joined Simone Biles and Jordan Chiles from Team USA at the 2024 Paris Olympics, where they were captured in an iconic photo showing the power of women of color in sports. This Olympics hit a groundbreaking milestone, with 50% of competing athletes being women and more than half of all medal events open to female athletes.

    This year, many moments of diversity, equity, and inclusion (DEI) were demonstrated. So, what DEI lessons can we learn from the 2024 Olympics that entrepreneurs can apply to their businesses today? The short answer is quite a few.

    1. Take care of your mental health

    In the 2020 Tokyo Olympics, the world was stunned when Biles, the greatest gymnast of all time, dropped out because of the “twisties,” a dangerous break in the brain-body connection causing the gymnast to lose sense of where they are in the air. She took a step back and let her teammate, Suni Lee, perform and subsequently take home the all-around gold in women’s gymnastics — an achievement Biles was perfectly poised and expected to win. Biles taught us that no matter what the stakes are, your mental health should come first. How can you perform at the highest levels of business and entrepreneurship if your mental health isn’t in a good place? The answer is that you can, but it’s not even what the G.O.A.T. would do. If no one’s told you today, here’s your friendly reminder that self-care is not selfish; it’s productive.

    Related: Radical Self-Care Isn’t Nice — It’s Necessary. Redefine Boundaries Between Your Life and Career to Perform Your Best.

    2. Don’t be afraid to be the first

    While some entrepreneurs dream of being the “first” to invent or discover something, others feel intimidated when finding their niche or area of genius in their industry. When faced with the daunting opportunity to be the first person to start or lead in a certain area, the fear of failure or high visibility might make some entrepreneurs squirm. Despite the nerves and fear that come with innovation, it’s okay to be “the first” in something and confidently walk into that arena with a bright idea. That’s what fencer Lauren Scruggs did at the Paris Olympics this year. She became the first Black American woman to win a gold medal in fencing, and I’m sure she was nervous. But she came ready to win and kept her eye on the prize. Entrepreneurs who are nervous about stepping into the space of being the “first” should take a deep breath and know why they’re there, then bravely step into their arena with confidence and focus.

    Related: The Burden of Breaking Barriers is Pushing Black Leaders to Breaking Point. This DEI Expert Reveals Where We Are Going Wrong

    3. Lift others up with you

    As entrepreneurs, we wear numerous hats and fight for our business success. However much success we gained, we didn’t do it alone. We must always remember to give people their flowers and lift them up as we grow. For example, while running the preliminary heat 100-meter race, South Sudanese runner Lucia Moris collapsed to the ground in the heat of the day and was unable to get up and finish the race. As soon as fellow competitor Silina Pha Aphay from Laos finished her race and realized Moris was on the ground in pain, she stopped and ran back to make sure Moris was okay and offered comfort and support while waiting for the medical teams to arrive. The business world can often feel cutthroat and like every person is out for themselves, but the heroic and noble athletes at the Olympics remind us that as we grow, we must lift others up with us. We’re not winning if others suffer as a consequence.

    4. Create value and set yourself apart

    Like most athletes that go to the Olympics, the goal is to win, and they know winning requires them to stand out. Most athletes don’t get an opportunity to stand out when the other competitors are neck and neck with them. But Simone Biles certainly has. After having several gymnastic moves named after her, she reminds us all to be aware of what we contribute to our areas and how we can set ourselves apart by doing what others aren’t doing. Creativity and innovation are the name of the game, and exceptional athletes like Biles show how our creativity can inspire others in business and entrepreneurship to imagine more.

    Final thoughts

    When it comes to business, we all want to be number one and become entrepreneur of the year. But the best of the best in the world of sports can teach us a thing or two about how to get there. Lifting others up when they’re down doesn’t give your competitor the upper hand; it gives your competitor a compassionate hand. Creating value and being the first to do something sets a standard for others in your sphere to strive for more and reach higher, too. Finally, taking care of your mental health isn’t selfish; it’s one of the most productive things you can do for yourself and others. While the Paris Olympics have come and gone, the lessons live on. Let these lessons seep into your mind and business, and see where you go. Who knows, you might just get the gold.

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    Nika White

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  • How This Overlooked Tool Boosts Employee Growth and Business Success | Entrepreneur

    How This Overlooked Tool Boosts Employee Growth and Business Success | Entrepreneur

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    What if I told you that one of the most powerful tools for enhancing your team’s performance and your company’s success is hiding in plain sight? A tool so effective that it can transform even the most disparate group of individuals into a well-oiled machine, working together towards a common goal.

    This often overlooked and underestimated tool is the garden variety performance review — one of the most effective and accessible management tools at your disposal.

    I know performance reviews might conjure up memories of awkward conversations, generic feedback and half-hearted promises. But when done right, they can be a game-changer for your business.

    In this article, I’ll share the value of performance reviews, strategies for effective implementation, emerging trends and more.

    Related: It’s Time to Prioritize Regular Performance Reviews — Here’s Why Reviews Are Essential for Employee and Company Growth

    The case for performance reviews

    Skeptical about the value of performance reviews? Let me convince you otherwise:

    1. Feedback: Regular, meaningful and timely feedback clarifies expectations and provides actionable guidance. When employees receive consistent feedback, they understand their strengths and weaknesses, leading to increased motivation to improve and higher performance overall.

    2. Talent identification: Performance reviews help identify high-potential employees early, enabling targeted development opportunities to prepare them for future leadership positions. This ensures a strong pipeline of homegrown talent and supports succession planning.

    3. Employee value: Recognizing achievements and providing growth opportunities boost employee satisfaction, engagement and retention. Also, when employees feel valued and supported, they are more likely to go above and beyond, contributing to increased company success.

    4. Fairness culture: Consistent, well-documented performance reviews promote a fair and transparent workplace culture. They prevent toxic environments where raises and promotions are based on favoritism rather than merit. By ensuring that employees clearly understand how their performance is measured and rewarded, legal risks associated with discriminatory practices are mitigated.

    5. Addressing discrepancies: Performance reviews help align expectations and perceptions between employees and managers. By asking both parties the same questions about performance, goals and development needs, these reviews ensure that everyone is on the same page. Addressing any discrepancies early on prevents frustration, disengagement and potential turnover down the line.

    6. Core values: Effective performance management assesses employees’ job performance and alignment with company values. While technical proficiency is important, embodying core values is equally critical. Evaluating this alignment helps identify individuals who may not positively contribute to the company culture.

    7. Identifying systemic issues: Performance reviews can reveal widespread company issues, such as management issues, cultural concerns or unclear expectations. Spotting trends across multiple employees allows you to address root causes and implement timely changes.

    Related: 4 Things Leaders Misunderstand About Performance Reviews

    Strategies for effective performance reviews

    Now, how can you make your performance reviews as impactful as possible? Here are some key tips:

    1. Set clear expectations from the start. Collaborate with employees to set specific, measurable, achievable, relevant and time-bound goals aligned with company objectives, ensuring they know exactly what they’ll be evaluated on.

    2. Make it a two-way conversation. Engage employees in a dialogue, asking questions, listening to their perspectives and brainstorming solutions together. This makes it feel more like coaching and less like a trial.

    3. Focus on behaviors and outcomes, not just numbers. Discuss the behaviors and skills that drove results, providing employees with insights on how to improve their approach, in addition to quantifiable metrics.

    4. Give specific examples. Offer concrete observations like “I noticed how you took the initiative to streamline the reporting process, resulting in better client satisfaction” instead of vague feedback like “Good job” or “Needs improvement.”

    5. Balance positive and constructive feedback. Recognize accomplishments and strengths while candidly discussing areas for growth, ensuring employees feel appreciated and challenged.

    6. Discuss the future, not just the past. Review prior performance but spend ample time discussing goals and development opportunities to keep the focus on growth.

    7. Document key points, but keep it conversational. Jot down notes to stay on track but maintain an organic, free-flowing discussion rather than reading from a script.

    8. Evaluate company-wide goals. Assess if the company as a whole met its targets for revenue, growth, etc., considering the individual’s impact on achieving these goals, not just their personal performance.

    9. Establish a clear formula for calculating salaries, bonuses and raises based on individual and company performance, ensuring fairness and consistency across the organization.

    10. Assess employees on their fit with company values and culture, not just individual performance. High performers misaligned with company values or team culture can be detrimental to your success.

    11. Encourage employees and managers to provide ongoing positive and constructive insights about their experience by offering incentives. Keep a detailed record of this feedback to streamline annual reviews, rather than relying on memory alone.

    Technology and trends

    As the workplace evolves, so does performance management. The right technology streamlines review processes, encourages a feedback culture and provides data-driven insights for more meaningful performance discussions. Here are some emerging trends:

    1. Modern performance management platforms enable frequent, real-time feedback, keeping development a constant focus.

    2. HCMS (Human Capital Management System) and talent management systems provide valuable data on performance metrics, flight risks, succession planning and more. Mining this data enriches performance review discussions.

    3. Borrowing from agile methodology, some companies are adopting shorter-term performance cycles with regularly adjusted goals, allowing for greater flexibility as the business evolves.

    Related: How to Conduct Employee Performance Reviews That Reduce Stress

    Tailoring your review

    As you create your performance review process, keep in mind that there’s no universal formula. What works for the big players might not be the right fit for your unique business. The key is to tailor your approach to your specific needs, culture and team.

    If this sounds overwhelming, bring in a fractional CHRO or HR Director to design and implement a performance management strategy that reflects your company’s unique identity and vision. This way, you can gain the same benefits without the commitment of a full-time hire or the frustration of trying to adapt generic advice to your specific needs.

    The bottom line is that performance reviews are arguably the most important investment you can make in your company’s growth. Your employees are the heart and soul of your success; how you nurture and engage them determines whether your business thrives or merely survives.

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    Adi Vaxman

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  • 4 Soft Skills You Need to Run a Business | Entrepreneur

    4 Soft Skills You Need to Run a Business | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Pour through higher-ed or seminar business texts relating to the qualities of an effective leader, and phrases like “analytical prowess,” “restless inventiveness” and “strength of will” tend to creep center stage. In my experience, however, placing too much emphasis on these (to be sure, often admirable) qualities is in error. I’ve found that empathy, compassion and care make a much more significant impact on a company’s success — that practicing such “soft skills” when running my own businesses has allowed me to reach the level of success I occupy today.

    Such skills are broadly defined as ways of relating and collaborating with others, and effective communication and complex task completion relies on their deft application, so practicing them routinely in the workplace is invaluable. According to a study by LinkedIn, “92% of talent professionals say they matter as much or more than hard skills when they hire, and 80% say they’re increasingly important to company success.”

    I couldn’t agree more.

    Not everyone is cut out to be a leader, but an acute understanding of communication, problem-solving and open-mindedness increases any professional’s value. And these capabilities go beyond the workplace, affecting every aspect of life.

    Related: The No. 1 Skill Employers Want Job Applicants to Have Might Be the Hardest to Find, New Research Reveals

    1. Empathy

    This term is defined as the ability to practice awareness of other people’s emotions and attempt to understand their experiences and perspectives. It requires a certain level of maturity but makes a profound difference in a staff’s willingness to engage — fosters a sense of purpose and trust.

    Over the course of my travels around the world, I have both seen and experienced suffering and choosing not to overlook circumstances different from my own —attempting to put myself in someone else’s shoes — has taught me a deep sense of humility. It has also inspired me to start many of the businesses I own today, which would not exist without the ability to see beyond my own limits.

    To embrace empathy, listening is vital, as is not prioritizing your own tasks more than employees’ work. So, commit to making those around you feel heard. (Therapy and business coaching can be great assists in that effort.) Empathy is a skill that must be practiced!

    Related: How To Be An Empathetic Leader (Without Getting Walked All Over)

    2. Compassion

    The desire to take action to help others, compassion differs from empathy in that it’s not just an awareness of others’ perspectives, but an inclination to be of service to them. It is the application of empathy.

    One way I practice it is by allowing employees to bring pets and kids into the workplace — to empathize with situations out of their control (like a babysitter canceling at the last minute). By opening up the workspace to what some might consider the “untraditional,” the goal is to assist to the best of my ability.

    Practicing compassion builds a more inclusive company culture, one that promotes a stronger work ethic by celebrating diversity, and reflecting on your own experiences of hardship and adversity is key. Take the time to evaluate how other people’s compassion towards you made a positive impact, and assess how you can do the same for staff members.

    Related: How to Advocate for — and Implement — a ‘Take Your Daughters and Sons to Work Day’

    3. Adaptability

    Put simply, this is the ability to approach change with openness and understanding. When I consider the word, it’s often in the context of developing new health and wellness products, and I assume things won’t always go according to plan. I have to try many different takes/recipes to get the right balance, which is also true in many other facets of business, such as hiring and workflow. By entering a venture with a deliberate focus on sensitivity to change and willingness to pivot, achievement becomes markedly more likely.

    Effective adaptation requires patience and calmness, and I’ve found that meditation is profoundly helpful in fostering a positive mindset, but just as important is your perspective on work. Remember that no matter what, you have it good — you are fortunate and have skills to apply. If you truly believe and hold on to that notion, there’s no challenge that can’t be overcome.

    4. Integrity

    This is one of the most critical soft skills to practice when running a business. It’s an untampered dedication to acting on morals and values and requires honesty, fairness and a great deal of introspection. As CEO, you might be placed on a pedestal, so the importance of uncompromised integrity is huge: you must accept your mistakes and look failure in the eye without cheating your values. It’s been my experience that knowledge gained from failure far outweighs easy success at the expense of morals.

    That said, I know the temptation involved when a person is cornered in a position that seems unforgiving, with a staff relying on the company’s success to make a living. That can be daunting. But there is always a choice—a chance to not compromise for monetary gain. At the end of the day, you can forgive yourself for a failure but never for intentional wrongdoing. You’ll need a strong sense of purpose because your ethics will be frequently tested.

    Related: Leading By Example: Why You Must Chart Your Own Course As An Entrepreneur

    Don’t assume soft skills will come easily; they get cultivated over time. Anyone can get a degree, but not everyone can effectively practice empathy, compassion, adaptability and integrity, but they are indispensable to running a business and living a happy and healthy life.

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    Dr. Christina Rahm

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  • The 4 Pillars of Leadership Success | Entrepreneur

    The 4 Pillars of Leadership Success | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    As an entrepreneur, understanding how to be a great leader yourself — and how to find and instill great leadership in others — is critical.

    Throughout my journey as an entrepreneur and CEO, I’ve sifted through countless leadership frameworks, read tons of books, debated with colleagues and spent years figuring out what makes an effective leader. In my view, great leadership boils down to four key pillars: planning, people, process and performance.

    Let’s break down each pillar, why it matters and how you can use it to become a better leader.

    Related: A Guide to Becoming an Effective Leader: The 6 Traits of Every Successful Leader

    Planning: Conscious strategy

    Planning is the first pillar of effective leadership. My definition of planning involves setting clear, measurable goals, outlining specific steps to achieve them and creating a strategic roadmap to guide the way.

    Importantly, my definition also includes prioritization. Part of planning is understanding that not everything can be a focus at the same time and being proactive about using your resources most effectively. Whether you’re constrained by time, budget, team expertise or something else entirely, great leaders will clearly outline what their priorities are — and what their priorities are not — throughout a project’s life cycle.

    To be a leader who plans effectively, you need to embrace foresight, decisiveness and a big-picture view. Practice seeing challenges and opportunities ahead, making smart decisions and keeping a clear vision of where you’re headed.

    When leaders neglect planning, their teams are likely to struggle with making progress towards their goals. They may feel disorganized, overwhelmed or frustrated at the lack of results their efforts are generating. It’s the leader’s job to course correct, managing the many variables that can affect a project instead of hoping everything falls into place.

    People: Clear expectations

    People are at the heart of any organization, and managing them well is crucial. I believe the foundation of managing people is clear communication and expectations.

    Why are clear expectations so important? People can only succeed in their roles if they know what success looks like — and that alignment may not come naturally.

    For example, some leaders may think “success” in a role requires constant communication and churning out deliverables. Others may think “success” requires innovative thinking and taking ownership over the role. Both perspectives are valid, but for employees to excel in their roles, they need to know how you’ll be evaluating performance and what you want to see them achieve.

    As leaders, it’s also our responsibility to organize our time so that we can manage proactively rather than reactively. This requires clear, organized and thoughtful direction to keep teams aligned and working productively.

    When leaders fail to set clear expectations, teams can become confused and unmotivated. They may struggle to understand their roles or what is expected of them, leading to misalignment and decreased productivity.

    It’s crucial for leaders to communicate openly and frequently, ensuring everyone is on the same page and working towards common goals. This clarity not only enhances individual performance but also fosters a culture of accountability and mutual respect.

    Related: 3 Steps to Help Employees Understand Your Objectives and Expectations

    Process: Coordinated systems

    The process pillar focuses on the importance of coordinated systems and productive organizational design. The heart of an efficient team is a well-structured organization with clear methodologies and processes. This structure serves as the foundation for building next-level growth and development.

    By holistically understanding the current organizational design, leaders can identify areas for improvement and implement new systems that enhance efficiency and productivity. Coordinated systems ensure that everyone is working towards common goals in a consistent and streamlined manner.

    Depending on the role and organization, creating processes may require establishing standard operating procedures, optimizing workflows and leveraging technology to support organizational needs.

    A well-defined process also requires regular attention. A system that’s effective and efficient today may not be effective and efficient a year from now. As your company grows, your team changes and technology advances, processes may need updates and overhauls to reflect the new environment.

    When leaders overlook the importance of processes, teams can become inefficient and chaotic. Without clear systems and methodologies, you may see the effects of duplicated tasks and wasted effort on overall productivity. Effective process management enables teams to operate more efficiently, reducing redundancy and maximizing resources.

    Performance: Consistent accountability

    Performance is the final pillar, emphasizing the importance of consistent accountability. Effective leaders value results and hold teams and team members accountable for achieving their goals. This involves having a bias towards action, finding ways to solve problems and breaking large projects into actionable chunks.

    Accountability is also about ensuring that everyone is responsible for their contributions, and that performance is regularly monitored and evaluated. Leaders need to set clear performance metrics, provide regular feedback and recognize achievements among their teams.

    When leaders neglect accountability, performance can suffer. Teams may lack direction, fail to meet goals and miss opportunities for improvement. In the long term, the business may struggle to move forward at all.

    By fostering a culture of accountability, leaders encourage continuous improvement and drive high performance across the organization.

    Related: Fostering This Trait Is One of the Hardest Things for Leaders to Get Right

    At the end of the day, “being a good leader” can feel like an abstract, intangible goal. However, it really comes down to nailing these four foundational areas. By applying these pillars to your own leadership and instilling them in your team, you’ll be on the right track towards sustainable growth.

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    Hope Horner

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  • How to Close the Trust Gap Between You and Your Team | Entrepreneur

    How to Close the Trust Gap Between You and Your Team | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    PwC has been tracking trust within workplace settings for years, but their most recent 2024 survey reveals a larger trust disconnect between leaders and employees than in the past. While 86% of executives say they trust their people, just 60% of workers feel trusted by their organizations. That means that for every 10 employees you manage, four doubt that you honestly have their backs.

    If this sounds alarming, you’re paying attention. Trust is an essential tool that can hold a company together through the good and bad times. When you have a steady stream of trust throughout your company, you’re poised to see higher performance levels and more creativity. Instead of playing it safe (which leads to playing it small), employees take pride in being trusted enough to innovate and think outside narrow job descriptions. With an added layer of trust, they can see the bigger vision and know their impact will be appreciated.

    Unfortunately, you can’t wave a magic wand and make trust appear. Trust isn’t a commodity. It can’t be bought or sold. It must be earned, and that means you need the courage to make some shifts in your leadership style to close any trust gaps between you and your team.

    Related: Strong Leaders Use These 4 Strategies to Build Trust in Their Workplace

    1. Retool your hiring process

    First, do something that sounds simple but isn’t: Take hiring seriously. The tighter your selection process for all positions, the easier it will be to develop trust with the people you onboard. It’s exceptionally difficult to build trust with someone who is the wrong fit for your business goals or doesn’t value people. By making your hiring process more robust, you send a message that your team is significant, select and special. That’s a foundation for future trust.

    As part of your revised hiring process, involve your team in the experience. The unknown is a big barrier to trust. Empowering your people to help make hiring decisions reduces the friction that can come when an “outsider” is brought into the mix. Have them conduct group and individual interviews, review resumes and participate in hiring simulations for final candidates. Ask for their input. In no time, you’ll transform the “new person” into someone who’s been invited to join the team by the team.

    2. Invest time in building genuine relationships

    After you’ve hired someone, kick off your relationship on a trust-building note. Sit down and talk about your expectations. As an executive, I’ve learned to ask specific questions to gain trust.

    • How will we work together?

    • What does trust and respect look like in a working relationship?

    • What do you expect of me as your boss?

    • How should we handle inevitable differences of opinion?

    By asking these questions — and truly listening to the answers — you’ll set the stage right away for free-flowing, authentic discussions built around mutual respect and understanding. It also makes it easier to share your expectations for how they show up at work.

    This effort will pay off down the road, especially during rocky moments. In the past, I’ve had to let team members go. Rather than ignoring the elephant in the room, I sit everyone down together afterward. I find out how they’re feeling. Usually, no one talks about those types of things. Our team can because we have strong relationships with each other, making it easier to take a pulse and hear everyone’s perspectives.

    Related: How to Build and Sustain Deep, Meaningful Business Relationships (and Why It’s the Key to Long-Lasting Success)

    3. Strengthen your leadership tendencies

    All leaders can get better. The sooner you recognize any tendencies or habits you have that are leading others to distrust you, the sooner you can stop them. For instance, is your first reaction to a problem assuming control, micromanaging or taking over? Do you resist sharing information because you stress about freaking out your team? These are understandable reactions, but they’re not going to foster trust.

    Now, you may say that you’re just “following orders” or that your company’s hierarchy is militant and structured. That’s not uncommon, although it’s very old-school. However, when you keep people in the dark, you instill fear and inadvertently minimize people’s potential contributions. Conversely, when you trust your team with the truth, you open the doors to better communication and a high-performing culture. And you can do this regardless of what your company does, at least to a certain degree.

    4. Use tech to grow — not destroy — trust

    The latest tech tools can be used to both fuel and hinder trust. It all boils down to how, when and why you introduce and use them. For instance, I recommend talking with your team before bringing in any new tech. When you chat about it first, you’re not just unilaterally forcing your team to use a tech they might not find beneficial. Ideally, tech should simplify everyone’s work experience, not make their lives harder.

    What about monitoring software? It’s a losing battle. When you’re monitoring folks, you’re saying, “I don’t trust you” and “I care more about time than outcomes.” Your employees will resent this and may even find loopholes to game your monitoring system. I know of a remote worker who put her mouse in her pocket and did errands. The mouse jiggled as if she were at her desk, and her bosses never knew. Ingenious. If she was getting work done, why should she be monitored like a child? Ultimately, it all comes back to trusting your team members and giving them the room to do their jobs as expected.

    Related: The Biggest Obstacle Facing Leaders Is Distrust. Here’s How to Build Confidence in Your Team.

    5. Rethink your assumptions about people

    You can’t do it all. No one can. You have to count on others, and that means you have to value and trust employees. It’s okay if you wouldn’t trust them to babysit your kids while you go on a date night. However, you must trust them to take pride in their work and perform their job well once fully trained. Where to start? Try pushing responsibilities to your team.

    In one of our workshops, a participant realized she was too “in the weeds” and didn’t have time to lead. When she returned to work, she pulled her small team into a meeting. She said, “These are the things that need to get done. I want you guys to work out how to make everything happen. Let me know what you’ll need from me.” Within a couple of hours, they had divided the work between them based on their aptitudes and preferences. From there, everything went smoothly. The leader was surprised (and relieved) by how well the experiment worked.

    You may trust your team, but if you’re not filtering your actions through a trust filter, you’re probably missing major trust-building opportunities. By switching up a few of your leadership strategies, you can demonstrate your unwavering trust, which will help clear the way for your trust to be reciprocated.

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    Gloria St. Martin-Lowry

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  • Feed Your Company Spirit with This $200 Restaurant.com eGift Card That’s Only $35 | Entrepreneur

    Feed Your Company Spirit with This $200 Restaurant.com eGift Card That’s Only $35 | Entrepreneur

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    Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.

    As an employer, you might forget what it’s like to be on the team instead of leading it. Employee motivation is complex, and sometimes, it’s the little signs that you care that can boost team spirit. In fact, something as simple as providing meals for your employees occasionally could give your team a huge boost. One Edenred report even found that companies that provide food services saw a 25% increase in employee satisfaction.

    Now, that doesn’t mean you have to hire a food truck to come around every day. A low-cost alternative is to invest in a service that gives you more food for less capital. Restaurant.com is home to thousands of deals for eateries across the United States, and you can get a $200 Restaurant.com eGift Card for just $35, but this deal may not last long.

    Save on meals for you or your employees.

    If you want to search for low-cost dining options all over the country, here’s how the process works:

    1. Buy your Restaurant.com eGift Card right here.
    2. Redeem them on Restaurant.com for credits.
    3. Use your zip code to search for qualifying eateries.
    4. Spend your credits on gift certificates for restaurants around the U.S.

    You don’t have to use all your credits at once. That means you could help take the team out for a celebratory dinner or treat yourself a few times while traveling. Suddenly, there’s another reason to have business partners around the country.

    Plus, you can use your eGift Card for dine-in, delivery, or takeout, but check the fine print for every restaurant. Some meals, drinks, or days might not be covered by your gift card. It’s also a good idea to search restaurants in your area (or where you’re likely to travel) before purchasing.

    Raise office morale with meals.

    Maybe the missing ingredient in your employee retention plan was a good meal.

    For a limited time, get a $200 Restaurant.com eGift Card for $35.

    StackSocial prices subject to change.

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    Entrepreneur Store

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  • How to Build a Culture of Radical Honesty (and Why You Should) | Entrepreneur

    How to Build a Culture of Radical Honesty (and Why You Should) | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    What keeps me up at night? Watermelons.

    As a CEO, my biggest fear is that the digital dashboards capturing my company’s vital signs are the business equivalent of that tropical fruit — green and firm on the outside, but red and mushy underneath. At first glance, everything looks solid. Then one morning, I get a call from a client asking, “What the hell is going on with A, B or C?”

    This concern isn’t fair to my team, who consistently exceed my expectations. But the reality is that for many leaders, such nagging fears can persist. When there’s a problem, the last thing you want is for people to give you the impression — intentionally or not — that things are better than they truly are. So, how do you avoid this?

    For the past few years, I’ve led a company in an industry facing astronomical demand. One of the biggest lessons: The agility, operational excellence and innovation required to meet this challenge requires building a culture of radical honesty.

    Here are three ways that leaders and their teams can embrace radical honesty — and reap the benefits of better decision-making and a true picture of where the business stands.

    Related: How to Employ Radical Candor in the Workplace With 5 Simple Steps

    Encourage your people to admit their weaknesses — and play to their strengths

    A simple formula for business success: Do things consistently better than the competition, and those wins will compound over time. The key to pulling it off? Let people focus on their strengths and delegate everything else.

    That calls for honesty and transparency. “Fake it till you make it” doesn’t always work in business, where pretending can have disastrous consequences. As a leader, I want people to do the opposite — by asking for help and saying, “I don’t know.”

    One way to do this is by empowering and trusting team members to be rock stars in their domain. That makes our company better at creating innovative technologies, tackling new markets and responding nimbly to changing conditions.

    But at the same time, as I urge people to lean into their strengths, I give them permission to be less adept at other things. For example, if a member of my leadership team is no good at financial underwriting, I tell them to own it like a badge of honor.

    After all, that’s what hiring is for. To make up for their lack of knowledge and expertise in a particular area, we can bring on someone to fill the gap. It’s my job as CEO to explain that the goal isn’t to undermine or replace them, but to help them focus on what they do best.

    There’s a direct line between that mindset and business results. In one study, companies whose CEOs excelled at delegating grew more than twice as fast as those with a less skilled delegator at the helm.

    Don’t default to the rulebook

    For leaders, honesty is nearly always the best policy, even if it means ruffling a few feathers or going against convention.

    Sometimes this requires poking holes in well-intentioned ideas that also happen to be intellectually lazy. This came up recently in a chat with my team about how we plan to meet the demand that AI is creating in our industry. While some of the ideas presented were sound, others needed more probing.

    Take the argument for keeping someone in a management role because they’ve done the job forever. Many companies default to this way of thinking, but what if they’re overlooking a newer hire with a fresh perspective and a natural ability to inspire the team? To me, sticking with option A isn’t an intellectually honest approach.

    As hard as it is, leaders can’t escape making these kinds of tough decisions. Without abandoning all loyalty to people, they should consider what’s best for the business and make pragmatic rather than emotional choices. Even if those decisions aren’t always popular.

    In a broader sense, being intellectually honest means knowing when adhering to the rulebook is hurting the company, not helping it. For example, I’m a big believer in hiring top talent, telling them where our True North is, and then letting them figure out the best way forward. If somebody needs a course correction, that can be addressed. But expecting the entire team to follow every company rule to the letter? That will only slow us down.

    Related: Stop Lying to Your Team — And Yourself. Try Radical Honesty Instead.

    Give the team a license to speed without getting a ticket

    Leading with radical honesty also requires getting real with yourself and your team about how willing you are to embrace failure.

    At our latest companywide offsite, I told people I want them to fail more. For a business, that isn’t as risky as it might sound. Companies that are serious about innovation should be willing to try new things and pivot fast if they don’t work.

    Take Airbnb, which didn’t begin by building an elaborate home rental website. Instead, the founders tested the waters by renting out their own loft online. Google Glass — released by a company famous for its “moonshots” — is a good example of a failed experiment. When its smart glasses didn’t catch fire with consumers, Google moved on.

    Encouraging creative destruction means removing the fear of failure, a major cause of inaction. Within reason, people should be able to fail out loud without worrying they’ll get fired.

    For me as a leader, there’s little risk because I’ve hired talented people who are laser-focused on executing well. All they really need is a license to speed without getting a ticket.

    Unfortunately, many business leaders don’t see things that way. Despite all the rhetoric around moving fast and breaking things, less than half of companies have a leadership team that regularly tolerates small-scale failures, according to a recent global survey of CEOs.

    Someone should explain to them that the rewards of letting people fail can be substantial. In a study of 120 tech startups, those committed to learning from failure produced greater scientific output, raised more capital and innovated more.

    Of course, businesses must also know when to play it safe. For Amazon founder Jeff Bezos, there’s a big difference between “experimental failure” (good) and “operational failure” (bad). It’s the same at my company, where the mission-critical computer and electrical systems that power our facilities don’t leave much room for error. But even there we get creative — for example, by finding innovative ways to keep the lights on during a blackout.

    Related: How to Allow Room for Failure and Create a Successful Work Environment

    For leaders and their teams, the biggest benefit of a culture of radical honesty is the elimination of fear: that employees will get into trouble for taking risks, that folks aren’t good enough at their jobs or that the company is actually on shaky ground.

    Ultimately, ensuring that everyone knows where they and the organization stand is a competitive advantage, thanks to a more engaged workforce, a clear view of where the business needs to grow and iterate, and a culture where people feel as emboldened to innovate as they do to ask for help. When it comes to performance, what you see is what you get. So, here’s to keeping watermelons where they belong — at the company picnic.

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    Andrew Schaap

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  • The Power of Solitude for Introverts and Extroverts | Entrepreneur

    The Power of Solitude for Introverts and Extroverts | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    History tends to mythologize entrepreneurial names in the tech world. We attribute to them black-and-white lifestyle characteristics, with very little room for gray. For example, Steve Jobs was a charismatic and publicly engaged leader, while Apple co-founder Steve Wozniak was an introvert who preferred working in solitude.

    It’s easy to invest in these caricatures, and then inquire as to which camp you belong. Are you an extrovert and a born leader, or a lone wolf better suited to behind the scenes? Do you need to find your ideally complementary co-founder, or is it better to strike out on your own?

    Before launching Jotform, I worried about whether I had the personality to lead a company. I knew there was a track record of being a proven web developer, but I didn’t know if I had the right attributes to be a CEO — to execute the necessary strategic work and successfully communicate a vision. I launched anyway, and 17 years later have discovered that, in pursuit of the right company culture, working in solitude versus a team setting — introversion versus extroversion — is a nuanced affair. I’ve observed that people seek solitude for various reasons, and that understanding these motivations helped me better appreciate the overall wellness, creative and leadership benefits that can flow from working solo.

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    Aytekin Tank

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  • Enhancing Employee Satisfaction Through Payroll Management | Entrepreneur

    Enhancing Employee Satisfaction Through Payroll Management | Entrepreneur

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    Effective payroll transcends the basic function of compensating employees; it embodies an organization’s respect for and valuation of its workforce. Ensuring that payroll is handled accurately and punctually is less about fulfilling an administrative duty and more about communicating appreciation and recognition. Here are the ways efficient payroll management can achieve that.

    Transparency

    Transparency in payroll processes is non-negotiable. An open payroll system—where employees understand how their compensation is calculated, the deductions made, and the benefits they are entitled to — builds trust and prevents potential discontent. This approach involves clear communication, accessibility to avenues for inquiries, and an environment in which employees feel comfortable seeking clarification.

    Employees, especially in specialized roles, require a clear breakdown of their compensation. For instance, understanding the mortgage branch manager’s salary involves considering regional standards, performance metrics, and market trends — all of which are crucial for the branch manager to grasp their compensation structure fully.

    Efficient Technology

    Integrating advanced payroll systems that automate and streamline processes is a game-changer. These systems reduce the likelihood of errors and demonstrate a commitment to using innovative solutions for the employees’ benefit. This investment in technology also frees up time for payroll staff to engage in more strategic, value-added activities.

    Personalization

    Recognizing and catering to the diverse needs of employees on payroll is essential. Some focus on flexible payment schedules; for others, additional health benefits or retirement plans might be a priority. Offering a range of payroll options allows employees to tailor their compensation packages to their unique circumstances, enhancing their satisfaction and engagement with the company.

    Related: 8 Best Invoicing and Billing Software in 2023

    Regular Audits And Updates

    Keeping payroll systems up-to-date is critical in employment law and regulations. Regular audits ensure compliance, fairness, and adaptability of payroll systems to evolving legal standards. This practice mitigates risk and signals employees that their welfare is prioritized.

    Communication

    Proactive communication about payroll processes and changes is essential. Educating employees about the nuances of their payroll—including tax implications, benefits, and deductions—empowers them to make informed decisions. This approach requires a shift from mere information dissemination to meaningful dialogue with employees about their payroll concerns.

    Prompt Resolution Of Issues

    Even with the most advanced systems, payroll issues can arise. The efficiency and empathy with which these issues are addressed can have a significant impact on employee trust and satisfaction. A robust system for promptly addressing and resolving payroll concerns minimizes frustration and reinforces the company’s commitment to its employees.

    Related: 3 Overarching Reasons Why People Quit Their Jobs — and How Employers Should Address Each One

    Employee Feedback

    The landscape of team members’ needs and preferences constantly evolves, making regular feedback on payroll services critical. This feedback should be actively sought, carefully considered, and, where feasible, integrated into the payroll system. This dynamic approach ensures that the payroll services remain relevant, responsive, and appreciated by employees.

    Retention And Recruitment

    A well-managed payroll system is a significant factor in retaining current employees and attracting new talent. In a competitive job market, a company known for efficient, fair, and responsive payroll practices is likelier to retain its employees and be an attractive prospect for potential hires. In this sense, payroll becomes one of the key elements of the employer brand.

    Culture Of Financial Wellness

    Beyond the mechanics of payroll, companies can enhance employee satisfaction by fostering a culture of financial wellness. This involves offering resources and education on financial planning, savings, and investments, which are facilitated through payroll deductions or company-matched programs. Such initiatives demonstrate a deeper commitment to the overall well-being of employees.

    Global Strategies

    Managing payroll across different countries presents unique challenges for companies operating on a global scale. Adapting to various payroll regulations while ensuring a consistent and fair experience for all employees is crucial. Effective global payroll strategies reflect the company’s ability to operate seamlessly in diverse environments, enhancing its global reputation and employee satisfaction.

    Data Analytics

    Payroll data analytics offers valuable insights into compensation trends, budget allocations, and overall financial health. Leveraging this data strategically can lead to more informed decision-making, aligning payroll practices with broader business objectives and enhancing employee satisfaction.

    Ethical Practices

    Ethical payroll management, including fair wage practices and adherence to labor laws, is a key aspect of corporate social responsibility. Demonstrating ethical practices in payroll management ensures compliance and enhances the company’s reputation and employee trust.

    Pitfalls Of Inadequate Payroll Systems

    An effective payroll system is not just an administrative tool but also a vital component of organizational health. In contrast, inadequate payroll systems can lead to a myriad of problems, adversely affecting both the organization and its employees. Here are some key pitfalls of not maintaining a robust payroll system:

    • Reduced Employee Morale: Delayed or inaccurate salary payments can lead to dissatisfaction and a decline in employee morale.
    • Legal And Compliance Issues: Failure to adhere to tax laws and regulatory requirements can result in legal penalties and financial losses.
    • Financial Inaccuracies: Poorly managed payroll can lead to errors in financial reporting, affecting budgeting and financial planning.
    • Administrative Burdens: Inefficiencies in payroll processing can increase the workload on staff, leading to burnout and errors.
    • Reputational Damage: Consistent payroll issues can tarnish the company’s reputation, both internally with employees and externally in the job market.

    In summary, an inadequate payroll system can have far-reaching negative impacts, making it essential for organizations to invest in reliable and efficient payroll solutions.

    Conclusion

    Payroll management is more than just adhering to best practices; it’s an evolving process that constantly adapts to new challenges and innovations. The multifaceted role of payroll in enhancing employee satisfaction has been highlighted, emphasizing that managing payroll is not just about numbers but nurturing an organization’s most valuable asset—its people.

    Organizations are at a crucial crossroads, ready to elevate their payroll systems into powerful growth and employee-empowerment instruments. Refining payroll strategies represents a significant investment in the future success of a business and the satisfaction of its workforce.

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    Kimberly Zhang

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  • The Skills Gap Is Rapidly Widening — Here's What We Must Do To Close It. | Entrepreneur

    The Skills Gap Is Rapidly Widening — Here's What We Must Do To Close It. | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Employers and other leaders, along with most employees, know all too well that it’s a challenging time to be a worker. With the adoption of artificial intelligence and social media marketing particularly, the nature of productivity and what it means to be a skilled worker is transforming. Simply being attentive and hardworking used to pass muster, but today there is a plethora of digital skills that individuals must possess to be competitive. In fact, a 2022 report, “How Skills Are Disrupting Work: The Transformational Power of Fast Growing, In-Demand Skills” detailed that need for employees with skills in AI/machine learning, cloud computing, social media and product management was the highest ever in that year — and growing rapidly.

    The trouble is — an ever-widening skills gap prevents a large percentage of the unemployed and underemployed from being qualified for such jobs. For instance, that same report stated that over its preceding five years, the average U.S. employee had to either replace or upgrade 37% of skills in order to carry out the duties of their position. A 2023 study conducted by my own organization, Amazon Web Services (along with Gallup), found that 68% of employers in the United Kingdom are struggling to find staff members with the necessary digital knowledge. A more troubling figure still is that just 11% of workers in the U.K. possess the skills needed to obtain and retain these higher-tech jobs.

    When it comes to this skills gap, small and medium-size businesses find themselves in a unique position. While some leaders might feel daunted as they try to keep up with better-resourced and larger competitors, there are also advantages to being smaller and nimble. They can pivot quickly, testing out new pilot programs that arm smaller staffs with more certifications and training.

    Related: Are You In A Dead-End Job? Here Are The Tell-Tale Signs

    How upskilling creates revenue

    Largely trained in a time before AI and machine learning took over the conversation, today’s workers are also struggling with the effects of the pandemic. How can they keep up? One answer is “reskilling” (aka “upskilling”), in which employees set out to learn new skills either on their own or with the help of work-based programs. And not surprisingly, employers offering high-quality learning and development programs benefit from such an investment.

    Owners will be cheered to note that this doesn’t have to represent a massive time commitment: Training for specific tasks associated with higher digital skills can take as little as an hour, and offer an immediate return. To be most effective, however, such instruction needs to be outcome-driven, and approachable. For example, Amazon Web Services offers free training in many areas (including basic generative AI solutions) that’s designed to be easy for non-technical people to follow.

    Offering such opportunities doesn’t just mean more talented workers: That same Amazon Web Services study showed that revenue for companies engaged in training of this type was 168% higher than those with lower levels of digital skill advancement. Better still, employees with intermediate digital skills stand to earn 40% more annually than those with basic digital skills, while those in the advanced bracket earn a whopping 65% more. A 2023 white paper by authors representing MIT, Stanford University and the National Bureau of Economic Research confirmed this — that the promise of generative AI benefits less experienced workers the most. The goal is to level the playing field, allowing those with less experience to gain skills faster — upending inequality in productivity.

    Related: How to Keep Employees Engaged and Productive in the Age of AI

    Smaller organizations usually have smaller workforces, which means that the value of every employee (as a percentage of overall productivity) is much higher in a small and medium-size business than in a larger company. Similarly, the benefits of an upskilling program will ripple faster in smaller organizations, whether that means having more highly skilled managers in place or simply spreading the word about upskilling’s benefits.

    Lastly, such programs can go a long way towards recruiting talent. Smaller enterprises, pretty much inevitably, will wind up duking it out with much larger and resource-rich ones with which they simply can’t compete when it comes to salaries. In a PwC study on HR and recruiting, however, 51% of respondents reported a willingness to give up higher salaries for personal flexibility and training opportunities.

    Related: Employees With Advanced Digital Skills Contribute $507.9 Billion To India’s GDP: AWS Report

    Investing in the future

    At first blush, the cost of helping your workforce garner needed skills might seem hefty — even out of reach for some — but they don’t have to be. There are many free resources available to help train staff in cloud computing and other areas. For example, the Amazon Web Services Skill Builder offers free on-demand labs and hands-on learning for a variety of skill levels.

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    Claire Gribbin

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