Small business owners often struggle with how they can attract top talent for positions within their company that will best grow their business. Every business started small and will have at some point struggled with how to improve internally and financially. As more and more small businesses continue to populate the globe, business success remains an ongoing urgency in the minds of business owners and managers.
Apparently, the concerns have become more of a mission to understand what business owners are missing and how to assist in seriously changing the internal dynamic that will in turn, likely change the financial trajectory of the business.
The questions that recent studies have asked and explored include – what would happen if employees were allowed to collaborate in unconventional ways? We are not just talking about the few at the top; we are talking about giving some credence and value to the thought processes of the whole human aspect of the company, the collective and not only the individuals or the “stars” of the company but alongside the stars.
Does current success of business today truly depend solely upon the education levels of administrative members? Or, does success rely so highly upon technology and how much of that technology is affordable? Is it at all possible that business owners are oblivious to the potential value of the ideas of all of their employees as a collective? These are only a few questions that business owners should consider exploring.
More studies are beginning to show that continued separation of the people who make up a company as a whole is a grave mistake, regardless of the possible conflicts contained within alternative strategies. Often encouraging everyone to participate through passive communication can be far more productive and beneficial if only business owners and leaders are willing to accept the fact that a collaborative approach, to include their followers, just may afford the company the ability to produce the golden egg that creates an amazingly successful company.
- Chief Research Officer, Kevin Martin with The Institute for Corporate Productivity, an organization that performs research to help businesses build and sustain higher levels of performance, states: “The lack of incentives and rewards is the most common and powerful barrier to effective collaboration. Yet, most talent management systems are designed to reward individual achievement, not team accomplishments.”
- It is not all about money and financial incentive, but also job satisfaction and the mere gratification that lies within being a part of a successful business in which an employee’s role in collaboration is critical to that success. An even more powerful avenue to understanding the benefits of this particular strategy can be found in the Ted Talk “Forget The Pecking Order,” performed by Margaret Heffernan. Margaret has been the CEO of five businesses and speaking within her experiences and studies; she addresses the consequences that businesses bring upon themselves by failing to explore “human cohesion,” and “social capital” among other subjects that often stunt the growth of today’s businesses. She addresses:
- Social Connectedness within the workplace.
- Helpfulness and its core importance to business success.
- Bonds, loyalty, and trust to experience confident employees that want to remain in place and become a part of the vision of your business.
- The redefinition of leadership and more.
This information is not filled with current buzzwords, but with credible studies that just may set business owners and thought leadership on a new path to internal success and profitability.
Although these strategies are not easy, (for a myriad of reasons), business owners may find that if they implement these ideas and strategies within their internal environment, the financial aspects just may begin to resolve themselves sooner than later. We would be interested in your thoughts regarding these strategies and how they may work for your respective business.
At Cogent Analytics, we never stop looking for ways to improve your business and neither should you. So, check out some of our other posts for helpful business information: