Top Tips to get you through the last half of 2012
1. Get your house in order!Did you know that it is a legal requirement to provide a written statement of particulars (which we would suggest turning into a simple lightweight contract) within the first 8 weeks of employment? When were they last updated? Employment Law changes twice a year, so up to date contracts not only offer legal protection, but make your business more saleable if your FD is helping you work towards this strategy. Consider an audit of your HR files to ensure that if statutory agencies such as HMRC or the Home Office turn up to do spot checks you've got everything covered, and at the very least have a Staff Handbook of key policies such as Disciplinaries, Grievances and Equal Opportunities.
2. Review your talent!When was the last time you sat down with your team, or your Heads of Department, and gave a constructive appraisal of their work? Reviews are key to performance management if you're unhappy with things further down the line, but also act as positive reinforcements in the absence of pay rises when performance has gone well but you can't necessarily afford to reward it.
3. Do your board know what's expected of them?You have regular board meetings where you discuss the usual operational and strategic issues, but do your Directors have clear targets and Key Performance Indicators for their respective divisions that are integrated and aligned with your overall vision?
4. Do the company know when to kick you out?Your exit strategy might be clear in your own mind; the Sunseeker in Barbados is a pretty clear vision after all. But if you're planning to make your escape via a sale, your whole company needs to help you move towards that by making everything they do a more saleable and attractive proposition to the marketplace. Maybe you're handing the business down the family tree, but it's still crucial to plan your legacy and get everyone on board with your exit strategy.
5. Are your employees truly engaged with the organisation?Or are they just turning up and getting the job done? Pay freezes, restructures, lack of training all difficulties we have had to face over the last year or so. As soon as times are better, are we going to watch all your talent walk out of the door? Consider the ways in which you motivate your teams, remembering that there's no one size fits all quick win. Consider psychometric profiling and motivational mapping for some of your key players to ensure they remain by your side through thick and thin, and remember a 'thank-you' costs nothing!
Real help organisations to get the best out of their people. They advise their clients strategically and operationally, but stand out from the crowd with their commercially minded, no-nonsense approach. If you want to find out more, speak to Rebecca or any one of the team at Real on 0845 094 6242 or take a look at www.realsuppport.co.uk.
Created: July 12, 2012, 4:22 pm